Small businesses are the backbone of our nation’s economy.
- They employ over half of the country’s private sector workforce
- Hire 40% of high tech workers
- Represent 97.3% of all the exporters of goods
- Represent 99.7% of all employer firms
- Generate a majority of the innovation that comes from the Unites States.
The bad news is that small businesses have a failure rate between 50 to 70%. So many dreams and great ideas never reach a point of becoming a reality. How much stronger would our nation be if we could cut the failure rate by just 10%. Unemployment would virtually disappear, manufacturing may stage a comeback and once again we can become the economic leader of the world.
Knowing how very important small business success is to our well being, we still offer little or no support to those who have launched a small business and those that would like to start a business. High schools and colleges offer very little practical information on how to start and survive in a small business. Several weeks ago I spoke to Western Business Educators Association annual meeting. While well meaning, they lack the practical experience, the “how to” needed to start and grow a business.
Support from mentors and business consultants is often too expensive, and a one-time expensive seminar only helps the person that is putting on that seminar. All the incubators and venture capital only reach a very small percentage of those who are in need of help.
In order to help a person that wants to start and grow a business to profitability and sustainability several factors must exist: the support has to be affordable, consistent (ongoing), immediately available, challenging, have an accountability factor built-in, must be easily understood, must offer interaction with a live, experienced mentor, offer practical education and have structured networking opportunities.
For the past four years I have been developing such a program. My goal is to launch it this fall. I will need a lot of help including finding 20 businesses that want to do my beta testing.
I have also applied for a grant through Chase Bank to support my program. I really need your help with this. In order to be considered for the grant I have to have a minimum of 250 votes cast prior to the 19th of June. (I think they are doing that in order to eliminate the applicants that don’t want to work for the needed votes) Please go to https://shar.es/120Zt3 and cast your vote today and ask as many people as you can to support small business with their vote.
Nick J. Petra CFP Calls at 602-989-1592602-989-1592 and e-mails at email@example.com are welcome.