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Canada

Business Support

Typical Needs and Problem Areas

According to some statistics in the last few years, 99.5% of all businesses in most western economies employ fewer than 200 people, 98% employ fewer than 50 people and 96.4% employ fewer than 20 people. These figures clearly illustrate the importance of independent businesses in the economy. Unfortunately, many such businesses fail within the first three years of starting - in fact only 15% actually make it beyond this point.

The Issues

Ongoing feedback from thousands of independent businesses reveals that the greatest problems recognized by their owners and managers are::

• Need more Sales
• Need more Cash
• Need more Funding
• Need more Profit
• Need more Time
• Lack of exit strategy
• Lack of up-to-date information
• Lack of time to keep up to date with information
• Legislation (e.g. Employment, Health & Safety)
• Loneliness
• Loss of original vision for the business
• Ineffective Marketing

The Management 'Gap'

Feedback also shows that owners of small to medium sized businesses generally have to:

• know everything
• keep up with everything, and
• do nearly everything themselves.

But business people cannot be expected to 'know what they don't know'. Importantly, it's not just the lack of knowledge or experience that can be a limiting factor, but also the available time to be effective in doing what needs to be done. More often than not, the need is for practical hands-on assistance.

practical advice that works

From research gained through face-to-face meetings with owners of independent businesses, it is understood that there simply aren't enough hours in the day to focus on non-profitable activities. The day-to-day needs of the business must be given priority.

A no-obligation meeting with an Executive Associate is the ideal way to discuss these challenges on a confidential basis, and to discover if the business qualifies for help under the Business Support Program delivering practical advice that works . A meeting with an IIB Executive Associate can be one of the most important meetings ever.