Small businesses have a huge effect on the local economy and the economic development of an area. Today, many small businesses have faced unprecedented challenges, and yet there has been a huge increase in the number of new enterprise applications. According to the U.S. White House, in 2021 alone almost 5.4 million new companies were … Continued
As the economy continues to boom, more and more entrepreneurs are opening small businesses. According to Forbes, the formation of new companies nationwide intending to hire employees increased to a historic high in 2021. There were nearly 1.4 million applications by September and over 400,000 more than at the same point in 2019. Detroit remains … Continued
If you’re wondering if small businesses have an effect on their local economies, the answer is an unequivocal yes. Plus, their impact is a positive one. According to LinkedIn, the fact that money from small companies tends to stay in their local economies is a main benefit. Let’s take a closer look at a few … Continued
Running a business is full of challenges. According to Investopedia, only 25% of businesses last longer than 15 years. During times of uncertainty, hiring a business consultant may be able to help your organization thrive. There are several ways they can help bring your company back to life. Objective Assessment One of the first things … Continued
Starting a business is an exciting venture, but you’ll need much more than just passion to ensure that it lasts. Many new businesses struggle to keep their doors open longer than a year in the competitive market. In fact, according to the U.S. Bureau of Labor Statistics, 20% of businesses fail within the first two … Continued
According to Oberlo, in 2022, there were over 33.2 million small businesses in America, which up nearly all (99.9 %) U.S. businesses. With so many small businesses in the marketplace, it’s changing the landscape of a typical American company. While so many small companies are encouraging, it also means more competition, which a community engagement … Continued
Small businesses are often called the backbone of our economy. The government normally provides grants and loans to small business owners, and everyone wants to help small businesses in times of crisis. Let’s take a look at why locally owned companies are so important and how small businesses give back to the economy and the … Continued
According to Monday.com, a company project is any initiative or program that a company undertakes to achieve a specific goal or objective. These projects can range from large-scale initiatives that affect the entire company to smaller projects that are specific to a particular department or team. Despite their varying scope, each project is critical to … Continued
The business world is changing, and more companies are taking their impact on society seriously. For example, the corporate social responsibility movement has transformed how businesses operate. Here’s what you can do to make a difference in the world. Go Green Many businesses realize that going green can help make the world better. This movement … Continued
The label “small business” only describes the relative size of your venture. When it comes to economic impact, these businesses are anything but small. You can generate positive change within your community depending on how you operate your business. Detailed in this article are the different ways your business can affect that positive change. Small … Continued