For the last 50 years, National Small Business Week has celebrated and recognized the critical contributions of America’s entrepreneurs and small business owners. More than half of Americans are small business owners and are responsible for two out of three new jobs each year across the United States.
According to the U.S. Bureau of Labor Statistics, however, over 70% of small businesses will fail within the first seven years. Common problems among those businesses that close their doors include: inadequate business planning, poor management, overspending, general cash flow problems. Most frustrated business owners cited the lack of time or awareness outside of the daily responsibilities to identify potential or impeding red flags.
According to a recent report by Salesforce, two-thirds of SMB owners and leaders (66%) are personally responsible for three or more core business areas. The list ranged from operations, finance, sales, and marketing to departments like human resources, customer service, product development, or IT. To keep an organization growing and thriving, it’s imperative for small business owners to find time to work on their business as much as they work in their business.
But that’s easier said than done.
To create an opportunity for local small business owners to take that much-needed time for their business this month, the Chamber is pleased to announce small business seminar programming throughout the month of May. The programming will help business owners combat common problems and focus on making S.M.A.R.T. decisions – decisions in strategy, marketing, analytics, retirement planning, and technology trends – for their business. Below is an overview of the seminar series.
Did you know the number one motivator to start a business is usually a person’s desire to be their own boss?
Before diving into a business, however, there are some basic and essential steps you can take to vet your idea and develop a greater understanding your potential market, capital needs, and messaging.
Tune into the Chamber Facebook page live at 10am on Thursday, May 2nd for all things business strategy and a review local resources available to assist your business at any stage.
Did you know that 70-80% of consumers will research a business online before making a purchase, yet most small business owners only devote two hours or less a week towards marketing initiatives?
In today’s digital age, it’s crucial to consistently share your story with your audience so that they think of you when they’re ready to purchase. Small businesses can start preparing now to leverage upcoming trends so that they’re not left behind by bigger business.
Get a jumpstart marketing your business during this webinar: Marketing 2020: Learn How Your Business Can Get Ahead of the Curve (Thursday, May 23rd at 12pm).
Did you know that inefficiencies cost many companies anywhere from 20-30% of their revenue each year?
Understanding your business data – financials, marketing metrics, and point-of-sale information – as well as the most relevant market data – such as resident demographics and workforce trends – can have a major impact on making key decisions for your business.
To figure out which metrics matter most to your business, register for an upcoming seminar on May 9th: Data-Driven Decision-making (Thursday, May 9th at 8am at the Jefferson Educational Society).
Did you know 48% of business owners don’t have an exit strategy while 42% of self-employed professionals aren’t even planning for retirement?
Failing to plan for your exit from the company is an extreme risk to take. While it may seem daunting to think about and it’s easy to push to your “I’ll do it tomorrow” list, beginning your exit planning strategy several years prior to your desired retirement date is crucial.
Register for this webinar with Mike Nedreski, president of White Oak Wealth Partners: Planning for a Perfect Exit. Mike will review best practices for developing and executing a successful exit strategy. (Thursday, May 16th at 12pm online).
Did you know that small businesses account for over 58% of all data breaches?
No company is too small when it comes to cyber security. It can be detrimental to businesses of all sizes. The estimated cost of an attack can run upwards of $3 million based on employee down-time, extended outages, and systematic breaches. Give your clients (and yourself) peace of mind knowing their information is protected.
Register for How to Protect Your Business and Customer Data and learn about the simple solutions to protecting your business, your customers, and your personal assets from potential cyber security risks. (Thursday, May 23rd, 8am at the Jefferson Educational Society).
Have an idea for a business? Need assistance expanding your current business? Not sure where to turn to get guidance on your start up? Schedule an appointment with the Business Action Team at the Erie Regional Chamber. An outreach specialist is available to work with you. This service is free of charge; Chamber membership is not required. For more information, email Lesley Ridge Allen (firstname.lastname@example.org) or call 814-454-7191 x 141.