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January 30, 2007
Burning Question
What is the biggest hurdle facing small businesses?
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38 CommentsOne of our biggest hurdles is hiring and retaining good employees in today's competitive job market.
January 30, 2007 2:42 PMThe process of searching for new customers seems like the largest hurdle for small businesses, followed by keeping up with local, state and federal government regulation.
January 30, 2007 2:46 PMThis insanity of Corporate globalization to cut strictly labor costs. It is very short sighted.
Also, the abuse of corporate executive bonuses and privileges that are really unearned. Especially exec buy/out compensation. Hell, if he is fired, NO BUYOUT. That is like saying you are going to prison but you will reep big rewards for it. So it really doesn't matter what your performance is or was, directors should be held financially liable for their actions.
No wonder labor costs are out of sight due to these kind of screw ups.
Good example: if President Bush thinks so much about Iraq, then make him live there.
January 30, 2007 2:52 PMThe American corporations are run by management and
accountants, and these people have no knowedge of
any techanical know-how. In Japan, all manufacturing companies run with 66% of Engineers, and all Techanical decisions are made by Engineers.
The biggest hurdle for small business is putting together a workable forecast and financial budget that will provide growth for the coming year.
Next is having the discipline to keep revisiting your plan and making milestones for your company to achieve your planned goals.
January 30, 2007 4:34 PMStarting off without enough financing.
January 30, 2007 4:37 PMCashflow...Cashflow...Cashflow!
January 30, 2007 5:27 PMI am 66 and retired about one year. Some of the small business men are saying that they can't find and retain dependable help.
I don't want to work full time, but really want to work 3 to 4 days a week. I wish employers would take advantage of our capabilities by having folks like me SHARE a full-time job!
Example: I worked 44 years in manufacturing (hands on). Supervising & managing world-class hi-tech enviornments for Fortune-500 companies.
I noticed that they do this in Europe. I grant you, the Human Resources Dept. might have to do a little more, but people like me enjoy the social contact and could help mentor new employees using our knowledge and experience. We leave a big knowledge drain on industry as we leave and retire. We don't have to work, but we would like to work. That might be a refreshing thought!
Joe Sadlier,
Harrisburg, PA
The biggest obstacle I face is the never-ending govt. regulations, taxes, licences, etc. There are too many, and they change too much. When the rules change, you usually can't get anyone at the govt. who knows what the changes are, or if they apply to you. What a waste of productive time.
January 30, 2007 6:41 PMThe biggest hurdle in small business is getting financial back-up at the right time, and for a reasonable interest.
January 31, 2007 2:08 AMa sense of entitlement that infects the productive spirit of those willing to try, take responsibility and defend what America is losing
January 31, 2007 11:00 AMThree years ago, my company filed a federal tax return and a state tax return. Now it must file (AND PAY) in five other states as well, and the list keeps growing. This is because states are claiming nexus, due to the existance of commissioned reps present in their state.
Forget about global free trade. We need free trade between states! We are, after all, supposed to be the "United" States.
January 31, 2007 11:15 AMMost of the comments above all pretty much refer to the symptoms of the root problem of small business ... but do not drill down to the real problem.
Most small businesses are run by the founder[s] who probably have an expertise in the product and its functionality and, due to that special knowledge, feel that they are uniquely equipped to manage all facets of their business.
Look at all the comments prior to this one: tax problems, government regulations, financial planning and controls, human resources. They all reflect back to the idea that because I'm the engineer [and many are] and I conceived the product or the application of it and know how to make it, I can run a business..."ain't always so"!
Someone blames management and accountants for all the problems, but the admission that someone with business/financial talent, well utilized in a small business, could solve the root cause is something most small business owners will not admit. And if they do, it is many times too late to save the enterprise.
To most small business owners: Recognize the biggest problem facing your company ... go look in the mirror.
January 31, 2007 12:04 PMMoney? No problem bidding, completion, collecting!
Your own "financial institution-bank" will do everything in their power to keep your deposited check from you!!
The stock answer is "We'll have to hold for clearing of check"!! Or "You don't have the collateral if this check fails to clear"!!
To clear a $30,000 check recently exceeded 10 day week due to weekends + holiday.
Well, all the above goes on top of your funding the job upfront, time to perform the work, wait for the check to be cut in sequence and delivery of the check. Easily two months to have a bank tell you sit on it for 10 more days while you can't make payroll, really sucks!
Congratulations, you are heading up the group of employers who don't pay employee checks.
January 31, 2007 2:00 PMSmall businesses have always suffered financial problems, this has consistently impacted on its growth as financial institutions will not assist in funding or even partnering.
January 31, 2007 2:23 PMWith the advent of the bank consolidations and the demise of the local "hometown" banker who knew everyone and made financial decisions based on the person you were, small business has experienced a more business-like review of requests for financial help. Generally speaking,
the review may be conservative, but they are dealing with the money of others in granting you money.
To one gentleman above, I suggest you do have a bidding problem, you are clearly not realizing enough to sustain operating capital nor accumulate liquid assets to fund a check that does not clear the bank. Remenber, in winning a bid...all things equal, the winner is the guy who agreed to do it for less than anyone else...sometimes you wonder if that is really winning.
Maybe, just maybe your bank is trying to tell you something about the way your business is structured. A bank's job is not to help capitalize your business, they are not an invested partner who has risked money on the hope
of a return on that investment, they simply offer a service, just like an attorney, accountant or the power company for that matter.
If you are expecting anything more, you are in for disappointment. They too are running a business and they are careful in the "jobs they bid". They cannot risk "not paying employee checks".
January 31, 2007 4:19 PMTHIS MESSAGE IS FOR JOSEPH SADLIER
My name is Kathryn Munger. I have an invention that I've Patented and am now looking to Manufacture. I would like for you to contact me. I would like to talk with you about a possible solution to both our problems. I need your knowledge, you need an outlet for your knowledge. Definite opportunities exist for both of us.
I can be contacted through my e-mail at nyrhtakenna@yahoo.com.
This is a serious business offer.
February 1, 2007 2:43 PMThe biggest problem is competing in the world marketplace against the big boys. A lot of small businesses have already lost the battle. Many more will follow. They just don't have the resources to get it done.
February 1, 2007 11:12 PMOur biggest hurdle is trying to compete with politically connected people who are getting millions of dollars from the government which we have to pay for through taxes!
February 5, 2007 9:58 AM
