The Problem With Small Business
There are 8.1 Million Small Businesses in America today. They employ over half of all private-sector workers and almost 40% of those in High Tech jobs (approximately 130 million workers). They provide between 60% and 80% of all net new jobs annually. They produce more than half of all non-farm private gross domestic profit in the US (roughly $6 Trillion). Small Business is important.
Unfortunately, within five years of opening, according to the SBA, almost 90% of all these businesses fail. These business owners are usually very good at what they do, manufacturing something, providing a service, etc. What many of them lack is the know-how to manage all aspects of the day to day operations of that business. The high failure rate is due to the very real fact that they do not have the training, education, knowledge, or experience to do it all. To be successful, they must do it all and do it well. How do we accomplish that?