Small businesses are the traditional source of local and national economic growth
Twenty percent of new business ventures fail within one year (Timmons - An Obsession with Opportunity) close to eighty percent of new business ventures fail within six years.
Given the importance of small businesses to the economy of a country, these failure rates are alarming.
Small businesses are an important source of innovation and creativity - many innovations in services and technology originated in small firms.
This makes them an important breeding ground for new business ventures.
Small businesses thrive in virtually every industry.
Because they are often labor intensive, they actually create more jobs than big businesses.
It is clear that small organisations play an integral role in the growth of the economy of any country.
The question immediately arises: Why do small businesses have such a high failure rate and what can be done about it? Research on small business failure, suggests that the basic difficulty in small businesses is poor management.
Poor management is evidenced by conditions such as inventory imbalance, over-extension of credit, excessive overhead and operating costs, cash flow difficulties and competitive weakness as seen in cost inefficiencies and poor locations
A small business is one that is actively managed by its owners, highly personalised, largely local in its area of operations, of relatively small size within the industry, and largely dependent on internal sources of capital to finance its growth.
Critical success factors are those things that most affect the ability of the organisation to prosper. These factors concern what every small business manager must be competent at doing, or concentrate on achieving, in order to be competitive and financially successful.
They are so important that every small business must pay close attention to them - they are the prerequisites for small business success
Ten participants attend the first session
Karen and Helmar
Well where do we begin. It was awesome, mind blowing. There is so much to learn and absorb. Mario you present things so well that we did not want Friday to end.
I would really like to go for the assessments, and if possible send my sons for the same thing as we have decided to home school them from next year and would love to see which direction to go into.
There is so much that I need help with. Is there anyway I can make an appointment. I have started a service but would like to go about things the right way from the very beginning. As you know our financial situation, I cannot afford to make any mistakes.
Thank you for your informative and inspiring course. I am grateful for this opportunity and hope that I will be able to implement all that I learn. You have encouraged me to realize that by using biblical principles I can look forward to what God will be doing in my life and hopefully in the lives of other people I come into contact with.
I would be most interested in doing A Career Direct and Vocational Interests/Self Assessment valuation. Also, becoming a Career Direct consultant sounds interesting. I would like to know more about it.
Thank you again for your time and input in our lives and I don't think you should alter the way you present your material - it was perfect exactly the way you did it!
The course where do I begin, I didn't expexted the out come of it. I was really surprised that I could have learned so much of myself.I have completed my book and can't wait for the next session.
You were very well prepared and you kept me awake that take some doing on a friday morning.Thank you so much I need to broaden my horizen and I need all the help.
Everything is highly appreciated and well done to you.