Tips To Grow Your Small Business Responsibly

As of 2008, there were more 5,294,970 firms in the United States that operated with 20 or fewer employees. Of those firms, more than 3,617,764 employed four people or less.

That’s a lot of small business.

It’s easy to see why small business and incentives for small business are such hot political topics. Small business owners have a lot on their plate. They must deal with everything from branding and marketing to inventory management to customer service.

Sometimes it can feel overwhelming to be responsible for so many different facets of your company’s success and there are a few things you should consider when growing and managing your small business.

It’s important that a small business’ growth remain sustainable.

Just because you have a good quarter does not mean you need to double your staff. Look at trends within the industry. Did everyone have a good quarter? Is that a seasonal trend that can be attributed to something like the holiday season or summer vacations? Don’t be too quick to hire someone because you might end up doing more harm than good. If you hire someone on, train them, allow them to get comfortable in the workplace and then have to cut their hours, they may want to leave your company. That’s not desirable for anyone because the estimated average employee turnover cost for a business is between $3000 and $4000.

When you do decide that it’s time to hire, look for someone whose personality and interests fit with the corporate atmosphere you’ve created.

Corporate atmosphere may sound like a huffy word, especially if you’re working out of your living room with three other people but the fact is: every company has a corporate atmosphere, whether that’s straight-laced and conservative or more loose and casual. Remember that job skills can be learned and perfected, but if someone’s personality doesn’t fit into your company’s culture, they probably shouldn’t be considered for the job.

When one considers that the total payroll of the four-employee-or-less firms is $232 million and some change it becomes apparent how crucial this segment of our economy is. Remember to manage growth sustainably in your business, think through any new hire decision carefully, be aware of the atmosphere you’re creating and look for people who will fit into that atmosphere.

This guest post was written by Brett Thorn, who writes about small businesses and startups for the Blog Content Guild.

Natural Resources: The Next Wave of Opportunity for Entrepreneurs

Please enjoy this guest post from my colleague Becky McCray.

Natural Resources are the center of major entrepreneurial opportunities. Are you paying attention to this next wave of action for entrepreneurs?

Natural resources play a central role in business opportunities, tourism, entrepreneurship, and of course agriculture. This is especially true in small towns and rural areas, where the tie to natural resources is most evident.

Where can small businesses find opportunities around natural resources? Here are three places to look. [Read more...]

The US Business Landscape At A Glance

This is an interesting graphic compilation of business entities in the US and other related information. An interesting point for me is that Sole Proprietorships are the most common, but Corporations take home more of the revenue. Although this does not surprise me. If you would like to see a larger view of the graphic, just click on it.


American Business Entity Landscape


Business Entity Landscape: Corporation, Partnership, LLC, etc.