Small Businesses face many challenges to their success today.
A recent survey conducted by the BPM Institute revealed the following major small business concerns:
- Finding and Retaining qualified workers (61%)
- Regulations, State and Federal (35%)
- Business climate (29%)
- Technology Advances (28%)
- Access to Adequate Capital (27%)
These concerns have very little to do with running and operating the day to day business that is vital for their success. In addition they face problems that lurk below the surface and can become “gotcha’s” if not cared for. The tools they need to turn things around often seem out of reach, and that explains their reluctance to bring technology or process optimization into their front and back office operations.
Although a large number of Small Businesses use the Internet(85%), less than 3% include e-commerce as an integral part of their business. Below are the 3 reasons often mentioned:
- Lack of time to plan and implement (80%)
- Cost of Implementation (80%)
- Radically changing technology (77%).
Opportunities for growth exist for those Small Businesses that are willing to:
- Increase Investments in Technology and Innovation
- Groom local opportunities with Government Agencies
- Pursue New Markets at home and overseas
- Advance employee education & training
Capstone Strategy Group resources have experience helping organizations achieve the business transformation they need to grow. Capstone Strategy Group can help these Small Businesses achieve operational excellence with their day to day activities through the use of our tools, techniques, and knowledge. Our “no commitment” 1 hour assessment will quickly enable you to understand our value proposition and areas where you can start driving growth today.