Small Business Blog Post Material

Small Businesses On What Matters:

Expansion of overtime eligibility
Department of labor’s legal counseling disclosure movement
Osha environmental regulation that affects manufacturing and farming
ESBA’s retirement reform could hinder small business retirement plans

(NFIB)

Many of the regulatory costs are fixed costs thus businesses with 5 and 500 employees pay the same costs
42% of businesses surveyed say that few or no qualified individuals applied for an open position
Many other businesses cite that attracting customers to the business is their biggest problem

Small Businesses Want to Grow: How Can they?

Numerous reports have cited that small businesses have plans to expand within the next year. An analysis conducted by the Wallstreet Journal in January 2016, highlights fifty-four percent of small businesses surveyed say they expect their employee base to increase. Twenty-seven percent of businesses interviewed for a New York Federal Reserve report, detail plans to increase their full time staff within the next year. A report in February 2016 by the National Federation of Independent businesses however, documents forty-two percent of small business have encountered obstacles in identifying qualified applicants for open positions. Similarly, survey results indicate that numerous businesses have expectations to increase profitability and/or sales revenue, while a complimentary majority cite difficulty in attracting customers and identifying new markets. To summarize the current state of affairs, it appears that small business share a desire to expand both financially and physically, but face disparities in realizing that goal. This therefore prompts the question: How should small businesses go about achieving affective and meaningful growth?

To begin to answer this question, it's important to reflect upon the foundational aspects of successful small enterprise.

The People "A chain is only as strong as its weakest link" is the mentality businesses should be employing in operation. In a small business where the marginal contribution of an employee is both noticeable and integral to getting the business of its feet, employing the right team of people is a fundamental component to success. Discovering the right talent starts with clear mapping of business objectives to candidate skills. Once the leadership has thoroughly analyzed the gaps in achieving the defined business objectives, recruitment can take place efficiently,