What Are the Keys to Small-Business Success? (Infographic)
Most small businesses started in the U.S. never live to see their five-year anniversary. Despite this distressing fact, 68% of small-business owners believe their businesses are operating at a successful level. Optimism in the face of tremendous odds is a powerful entrepreneurial trait—and one that can help keep failure at bay and success on the horizon.
Intuit created this enlightening infographic that looks at the secrets to staying in business for the long run.
A few interesting facts:
- 55 million people were employed by small businesses in 2010
- In 2011, more businesses opened than closed
- 79.4% of business owners do not employ anyone other than themselves
- Most businesses have fewer than 20 employees
- Today’s small businesses are responsible for 65% of the new jobs over the last 17 years
- Business owners believe that the primary risks they’re currently facing are slow economic recovery, taxes, and uncertainty about federal regulations
- 68% of small business owners believe they are successful
- The primary ways business owners are staying afloat is finding ways to cut costs, strengthening relationships with current clients, seeking out new clients, and refining business strategies
- According to small business owners, the key to success is increasing demand for products and services, cutting down on rules and regulations, and larger employee talent pool.
- The current top industries for small business include candy (the confectionery industry), mobile apps, accounting services, fast-casual dining, and green construction
Also note that Houston, Texas is one of the top 10 cities where small businesses can thrive! Not too shabby.
Click here to view the infographic at Inuit.com’s Small Business Blog.
READ MORE FROM AMERICAN COMMERCIAL CAPITAL
Business Video Roundup: Facing Conflict, Talent Acquisition & Why Most Businesses Fail
Image: Prostock-studio / Envato Elements
Facing conflict might not be everyone’s idea of a good time, but it’s a fact of life and an unavoidable part of operating a business. In this week’s roundup of great videos for entrepreneurs and business owners, Getting Along author Amy Gallo reveals why conflict doesn’t have to be painful and offers up some excellent tips on handling it with empathy, poise, and strength.…
Business Video Roundup: How to Build High-Performance Teams, Succeed in BBQ & More
Image: friends_stock / Envato Elements
“I never start my day without a success plan,” Marie Forleo says. After checking out the videos in this week’s business video roundup, you might be saying the same! In addition to some great productivity tips from Marie, Gary Vaynerchuk reveals how to build high-performance teams by leading with humility instead of fear, Harvard Business School’s Linda A. Hill explains why collaboration and partnership…
Business Video Roundup: Overcoming Fear & Self-Doubt, Running a Coffee Shop & More
Image: insidecreativehouse / Envato Elements
Fear and self-doubt come for all of us, eventually. Well, maybe not Kanye West, but everyone else. In this week’s roundup of great videos for entrepreneurs and business owners, Gary Vaynerchuk reveals why it’s best for everyone to eliminate fear in the workplace, Marie Forleo drops some sage advice on how to conquer self-doubt, and Brendon Burchard dispenses some leadership lessons that will help…
