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According to the Small Business Administration (SBA), there are 33.2 million small businesses in the U.S. that account for 99.9% of all U.S. businesses. These small businesses employ 61.7 million people – nearly half (46.4%) of the U.S. workforce.
Despite the prevalence of small businesses, the Bureau of Labor and Statistics has found that:
Nearly one in five (18.4%) private sector businesses fail within the first year in the U.S.; 49.7% fail within five years and 65.5% fail within ten years.
How can you prepare your business to beat these statistics? Harvard Business School states that business consultants circulate innovative ideas and new knowledge within their industries that can help small business owners overcome key challenges and thrive well beyond ten years.
Specifically, business consultants can help small businesses:
While owners may feel they can independently manage these aspects of their business, the benefits of working with business consultants include:
NEWITY is proud to partner with Cultivate Advisors to bring quality business consulting services to its members. Cultivate Advisors has more than 60 advisors with 500+ years of combined entrepreneurial experience and has achieved fantastic results for small businesses like yours:
NEWITY members can schedule a free two-hour session with Cultivate with no obligation. Get started today by scheduling a 15-minute initial call with Cultivate.