Dazzle Issue 5: Growth

RISK FACTORS
IN IT FOR THE LONG RUN
A LOOK AT SMALL BUSINESS LONGEVITY
AMERICA’S SMALL BUSINESSES AT A GLANCE
55 MILLION
WORKERS
were employed
by small
businesses in
2010, mostly in
firms with 20-
499 employees.
RISKY BUSINESS
Today’s small businesses have
generated 65% of net new jobs
over the past 17 years, but many
owners believe the current economy will
hinder their opportunities for growth.
Slow Economic
67% Recovery
59%
56%
Taxes
Uncertainties about
Federal Regulations
Despite these hindering factors,
33% of small business owners
are optimistic that the economy
will get stronger.
79.4%
of business
owners have
no other
employees,
and most have
fewer than 20.
WORKING
TOWARDS
SUCCESS
When it comes to
running a successful
small business, owners
are crediting several
factors for keeping
their doors open,
including their
employees’ hard work
and fewer regulations.
68% of small
business owners
feel their businesses
are operating at a
successful level.
In 2011,
more establishments
opened than closed.
Quarterly Established Openings
Quarterly Established Closings
OPEN
2010
1,433,703
Bankruptcies 47,806
With 50% of the nation’s
small businesses closing
up shop in their first year,
it can be hard to stay
optimistic about small
business longevity. What
are the secrets to staying
in business and locking
down success?
Let’s take a look.
% change
from 2009
1.4%
1,424,390 -0.7%
-15.1%
STAYING ON TOP
Business owners are working hard to stay in business. Here are
some of the steps they actively take to keep their doors open:
80% 76%
69% 65%
Finding ways to cut costs
Strengthening existing client relations
Looking for new clients
Refining business strategies
A larger pool of
qualified employees
47%
Improved demand
for products &
services
CURRENT TOP INDUSTRIES FOR SMALL BUSINESSES
According to small business
owners, their success can be
attributed to:
43%
Fewer rules
and regulations
57%
FROM MY PERSPECTIVE:
Growing as a
women-owned business
Earlier this year, individuals around the world recognized International
Women’s Day, celebrating the many commendable achievements and
advancements women have made in the workforce and beyond.
As I reflect on women’s many achievements and what they mean for
Ideaworks, I am grateful for the opportunities we have had through the
years to grow and develop as a WBENC-certified women-owned business.
This year marks our 20th year in business, and it is an honor to work
with such a talented group of career-minded women, including
Ideaworks’ president & CEO Donna Hansbury, vice president of creative
and operations Patty Pugh and director of marketing communications
Chelsey Tupper. Together with these ladies and the rest of our talented
team, we have dedicated ourselves to delivering the best marketing and
creative work for our clients. Our entire team showcases attributes that I
believe are crucial to have not only in a women-owned business but in
any business enterprise. Characteristics like sheer talent, respect for one
another’s unique abilities, and a willingness to work hard, dive deep, and
actively immerse ourselves in each client’s industry. These are the qualities
that make our agency valuable to our clients and competitive in today’s
ever-changing marketplace.
It’s an honor to have built this business and team with my fellow female
executives. I am genuinely grateful year-over-year that Ideaworks is a
women-owned business, dedicated to solving clients’ most pressing
marketing challenges with innovation, creativity and an exceptionally
talented team.
CANDY
The confectionary
industry, as a whole,
grew 3.7% during the
52-week period
ending April 19,
according to the
National Confectioners
Association.
MOBILE APPS
Venture-capitial firms
such as Kleiner Perkins
have begun investing
in app producers to
capitalize on this
growing trend. The
Sand Hill Road firm
has earmarked $100
million for the market.
ACCOUNTING
SERVICES
Private accounting
firms have seen a
20.9% growth in
profit over the last 12
months, according to
data from Sageworks.
FAST-CASUAL
DINING
With a growing trend
in gourmet food
trucks, business has
the potential to boom.
It’s predicted that food
truck industry
revenues will grow
over the next 5 years.
GREEN
CONSTRUCTION
The overall green
building market is
expected to more than
double from $49
billion to $140 billion
this year, according to
a report from
McGraw-Hill.
-Judy Steve,
Owner
WHERE TO THRIVE
1. AUSTIN, TX 2. OKLAHOMA CITY, OK 3. DENVER, CO 4. RALEIGH, NC 5. SALT LAKE CITY, UT
6. DURHAM, NC
8 DAZZLE: ISSUE FOUR
7. SEATTLE, WA 8. HOUSTON, TX 9. NEW YORK, NY 10. SAN JOSE, CA
Original Source: The Hartford, U.S. Small Business Administration, Business Journals, Inc.com
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