According to the Small Business Administration, two thirds of new jobs are created by businesses with fewer than 500 employees. On the other hand, the SBA says, only about half of those businesses are still open after five years.
So if you’re running a business – or thinking about starting one – how do you increase your odds of still having your doors open after a few years of hard work and a big investment?
One of the best ways is to learn from others who have been there. In that spirit, BCBSNC hosted the Shop Talk breakfast with The News & Observer on Tuesday. In a session moderated by N&O publisher Orage Quarles III, four Triangle small business owners shared their experiences and took questions from a room full of business owners, entrepreneurs and other business professionals. And our CEO, Brad Wilson, offered remarks on how small business is an essential ingredient to a healthy economy.
The N&O has put together a blog post and video, as well as a photogallery, and will be sharing more coverage in its print editions. You can also pick up on the nature of the discussion from the Twitter feed from the event.
If there was one theme that emerged, it was that success is dependent on building and keeping the right team. Knowing who to hire, what positions to put them in, and when to part ways can make or break a small business.
Shop Talk offers valuable insight for the Triangle’s small business community. We’re pleased to have had the opportunity to work with The N&O to bring together business owners for a lively discussion.