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Small Businesses As Employers

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Steve Adams …

Steve Adams
New England Regional Advocate
U.S. Office of Advocacy
www.sba.gov/advo

Published in: Business, Economy & Finance

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  • 1. Small Businesses As Employers Steve Adams New England Regional Advocate U.S. Office of Advocacy www.sba.gov/advo
  • 2. The Small Business Market
    • What does post crisis economy mean for jobs?
    • What is the small business sector?
    • How is the small business sector different?
    • Engaging the small business sector.
  • 3. Economy that emerges from recession will be very different.
    • High consumer debt + slow income growth = Weak consumer spending in US.
    • Less capital sloshing around the world + weak demand = much lower investment returns.
  • 4. United States household credit market outstanding debt
  • 5. Small firms will be source of most net new jobs
    • General demand will stagnate causing large companies to shed jobs.
    • Growth will come from serving niche markets and providing specialized goods and services.
    • Small firms will be best suited to exploit growth opportunities.
  • 6. Small firms are the market
    • Small firms employ 50% of workers.
    • 86% of all NE and US employers have <20 employees.
    • Small firms represented 70% of net new jobs in last decade.
    • Smalls dominate all sectors, not just “mom & pops”.
  • 7. Massachusetts small businesses Company Sales Emp Business Cantata Technology $95,000,000 200 Computer software development; Haley & Aldrich Inc $92,229,903 200 Business Consulting, Engineering Services Conversent Communications $70,000,000 200 Data Telephone Communications Wsi Corp $75,000,000 190 Data Processing/Preparation Princess House Inc $90,634,000 166 Wholesale Nondurable Goods Universal Millennium $95,000,000 150 Commercial lithographic printing Hallmark Health Corp $91,300,000 150 Health Services Business Services Newbury Comics Inc $74,481,176 125 Retail Records/Cd's/Tapes Ret Gifts/Books Dover Saddlery Inc $81,392,373 120 Retailer Of Equestrian Equipment E & P Enterprises Inc $100,000,000 110 Travel Agency Edgewater Tech $73,743,000 100 Technology Management Consulting Sleepmed Inc $89,975,000 96 Medical Laboratory Home Health Care Services Vertical Communications $72,594,000 71 Business & professional software publishers
  • 8. Massachusetts small businesses Company Sales Emp Business Dotcommerce Ltd $35,000,000 21 Internet Web Page Design Northeast Interiors $34,834,018 24 Residential Construction Jfs Inc $32,115,063 10 Data Processing/Preparation Computer Services Data Associates Business Trust $28,000,000 30 Prints promotionals May Technolgies Inc $26,000,000 5 Manufacturing Representitives Harpell Inc $25,800,000 15 Transactive Marketing Allied Supply Chain Solutions $22,432,890 13 Supply Chain Management,Consumer Electronics Daymark Solutions Inc $22,000,000 25 Whol Computers/Peripherals Intra Systems Inc $20,000,000 23 Computer Systems Design Ebizbrokers Inc $17,500,000 7 Business Services Overdrive Interactive LLC $15,000,000 30 Management Consulting Services
  • 9. Small firms can be attractive
    • Opportunity to get diversity of experiences, play numerous roles.
    • Willingness to train to suit need.
    • Can be more cohesive environment.
    • High-energy, more purposeful.
    • Differences between small and large firms are shrinking – that post-crisis economy thing.
  • 10. Small Businesses Don’t Always Stay Small
    • Inc 500 companies
      • 56% started in founder’s home
      • 93% from working or middle-class families
      • 46% founders had less than a 4-year degree
      • 24% started with less than $10,000
      • 70% started with less than $50,000
      • 62% started with at least one partner
      • Average age of company - 8 years old
  • 11.  
  • 12. Workforce Issues Top Small Business Concerns
    • Finding qualified workers is among top 3 barriers to small business growth.
    • Rising cost of health care insurance is #1.
  • 13. Small firms need help finding qualified workers
  • 14. Small business outreach: This takes work
    • Recognize challenges faced by small firms.
      • Time, expertise, schedule flexibility, HR outreach capability.
    • Specialize.
    • Partner with trade associations.
  • 15. Small business outreach
    • Innovative (?) approaches:
      • Have students ID firm-types and firms with data bases, e.g. Dunn & Bradstreet.
      • School facilitate match-making.
    • Facilitate strategic partnerships between College department and businesses:
      • Provide access to continuing education, pipeline of workers, access to workforce programs.
  • 16. Resources/Trade Associations
    • Hitachi Foundation Report: Building Strong Partnerships with Businesses Maximizing Your Organization’s Workforce Development Potential . www.hitachifoundation.org /pdfs/pocket_guide_nonprofit.pdf
    • Smaller Business Association of New England: Trade association of small businesses. www.sbane.org/
    • Massachusetts Innovation & Technology Exchange: industry association where digital marketing, media and technology converge. www.mitx.org
    • Greater New England Minority Supplier Development Council: Local affiliate of national organization created by large corporations to certify minority-owned suppliers. www.cmsdc.org/
    • Regional Technology Corporation: Western Massachusetts organization of technology firms. http://rtacentral.com/ .
    • New England Technology Sales Executives Association. www.netsea.org
    •  
    • National Federation of Independent Businesses.. www.nfib.org
    •  
  • 17. Thank You Steve Adams New England Regional Advocate (617) 565-8418 [email_address]