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Small Businesses As Employers
 

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

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    Small Businesses As Employers Small Businesses As Employers Presentation Transcript

    • Small Businesses As Employers Steve Adams New England Regional Advocate U.S. Office of Advocacy www.sba.gov/advo
    • 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.
    • 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.
    • United States household credit market outstanding debt
    • 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.
    • 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”.
    • 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
    • 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
    • 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.
    • 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
    •  
    • 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.
    • Small firms need help finding qualified workers
    • Small business outreach: This takes work
      • Recognize challenges faced by small firms.
        • Time, expertise, schedule flexibility, HR outreach capability.
      • Specialize.
      • Partner with trade associations.
    • 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.
    • 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
      •  
    • Thank You Steve Adams New England Regional Advocate (617) 565-8418 [email_address]