There is a lot of debate amongst politicians about how best to ensure small businesses succeed. In the current economic climate, there are many large businesses that monopolize industry sectors. As a result, small businesses are often under considerable strain as they struggle to compete. Sadly, many small business holders end up going under or being bought out by these larger firms, which means it can end up feeling like a pointless endeavor starting out in the first place.
It is imperative, then, that those in the political sphere start looking at ways to support not only small business holders but the idea of small business itself. Three issues come to mind when addressing the struggle of small businesses in today’s economy.
Undoubtedly one of the most important issues facing the small business sector is the lack of appropriate skills. Those who do move on from a successful college and university experience are likely to be looking for work in larger companies where they are guaranteed competitive wages and more stability in their careers.
As a consequence, small businesses have little option but to employ those with a substandard education. However, this is not to say that those with a substandard education cannot be as competent and effective as those who have gone on to graduate. Investment in education isn’t just about rewarding the high-achievers, but fostering a culture of life-long learning. Small businesses should have access to learning programs and training so that those they employ can level up their skills and move through their career with confidence. With well-trained employees with a stable future, small businesses will see an increase in productivity and boosted employee morale.
Investing in Small Business
Government, infrastructure and civic services can provide a huge amount of income for a small business. It is easy and often inexpensive for governmental groups to enlist the services of a large corporation to fulfill their needs, but it is of no benefit to small businesses and only serves to undermine them.
Whether you are a data analysis company in Washington or an air duct cleaning las vegas firm, scoring a government contract can be the difference between success and bankruptcy.. Where many politicians claim to have the small businessman in mind, it is frustrating to see so many contracts going to big businesses. It is high time that government agencies started showing some loyalty and generosity to small businesses by investing and supporting them in gaining government contracts.
Reducing Wasteful Practice
One major advantage bigger businesses have over smaller businesses is that they have greater resources when it comes to time-consuming administrative tasks. Whatever legislation is put in front of them, it can be handled by a large team of dedicated professionals so that the main goals of the company are met.
A smaller business may not be able to handle legislation and governmental paperwork in the same volume as a bigger company might. As any small business owner can tell you, there is a lot of paperwork which can end up sidelining the business and ruining its productivity.
If a government at a local or state level really want to support small businesses, it is important to start being realistic about what compliances and competencies should be fulfilled. Reducing the burden of wasteful or needless administration on small business may help to grow it, and thereby give it the time and resources to tackle more detailed governmental audits.