How To Grow Your Micro-Business

If you want to grow your micro-business (defined as a business with fewer than five employees), you might consider some of the findings of a survey by Statistics Canada.

1. The Findings

According to "Growth Determinants of Micro-Businesses in Canada" (Evangelia Papadaki and Bassima Chami, Small Business Policy Branch, Industry Canada), the survey by Statistics Canada revealed the following:

Micro-businesses get much of their advice from family, friends, customers and suppliers. Accountants are more commonly consulted for business advice than lawyers and bankers.

Completion of high school was cited as a factor for growth in the micro-business. Perhaps surprisingly, college or university education was discounted as a factor for success.

Age or sex of business owners did not affect business growth. Nor was being an immigrant a significant factor.

For growth, being willing to delegate, assume risk, and share ownership all seemed to be factors for success.

Expansion of the local market was more important for growth than the export market for the micro-business.

Growth micro-businesses innovate and engage in e-commerce activities.

2. The Opportunities

This is encouraging news for entrepreneurs. You don't necessarily need a lot of money for professional advisors to grow your micro-business. Higher education is not a prerequisite for success. Age, sex or country of origin are not relevant factors for growing your micro-business.

If growth of your micro-business is your goal, you can't do everything yourself. You must be willing to delegate (or perhaps even share ownership of your business with others). Innovation, a willingness to take risks, and use of the Internet are also important to your growth.

Are you willing to delegate, take risks, and partner with others? Are you innovative? Do you employ e-commerce in your business? Are you using the Internet to expand your local business?

RESOURCE BOX:

J. Stephen Pope, President of Pope Consulting Inc., has been helping clients to earn maximum business profits for over twenty-five years. For valuable Work at Home Small Business Ideas, visit: http://www.yenommarketinginc.com/

---

Lessons Learned from One Entrepreneur on Vioxx

For the past ten-months, I tried every drug from the... Read More

Raising Capital for Your Business ? How Long Does it Take?

Most companies vastly underestimate the time commitment necessary to successfully... Read More

Innovation incubator: Build it and keep it running

If your company is like the one I work for,... Read More

Playing Hookey Can Help! A Surprising Secret To Small Business Success!

Would you like to increase your chances of business success... Read More

Entrepreneurship: Insight and Closer Look At The Entrepreneur

Life as an entrepreneur is the American Dream. To be... Read More

How A Woman Became A Successful Bill Collector In A Mans Industry And How You Can Too!

I have worked in the credit industry for over 17... Read More

10 Secrets of Successful Entrepreneurs

Running a one-person business is a creative, flexible and challenging... Read More

Answering Why You, Why Now Critical in a Winning Business Plan

Business plans continue to be an essential element of the... Read More

How to Start a Franchise

Franchising InformationFranchise oppotunities are all around us today. You may... Read More

Entrepreneurial Ongoing Education Advice

I would like to give some advice to all the... Read More

Book Yourself Solid: The Simple Selling Process

As a service provider you may not want to think... Read More

What Part of Handwriting on the Wall Dont You Understand - They Dont Hire People Over 50

In a recent talk to the Detroit Economic Club, President... Read More

The Perfect Little Coffee Shop: Are You Afraid of Failure? Are You Letting that Failure Cripple You

Ah, coffee, the drink of choice when I want to... Read More

Raising Entrepreneurs: What to Do When Your Kid is Born to Think Differently

Adolescence brings with it many challenges ? for both parents... Read More

Be Where the Pucks Going To Be

The "Great One" said it bestHockey legend Wayne Gretzky, when... Read More

Could a Book About Your Company be Worth $1.7 Billion? Building Value Through Publishing

"Berkshire Hathaway (NYSE: BRK.A) to purchase Clayton Homes for $12.50... Read More

Independent Auto Detail Shop VS Biz Op or Franchise

Owning a detail shop can be an exciting and rewarding... Read More

An Entrepreneur and a Life To Be Remembered

I was reminded of my own mortality today. I guess... Read More

Starting Your Business By The Book

I've gotten several questions recently about the legalities of starting... Read More

History of Enterprise Car Rentals

So few really understand the drives and motivations of entrepreneurs.... Read More

Business Is No Guarantee of Riches

Q: I'm thinking about starting a business since that seems... Read More

Online Women Entrepreneurs Need To Pace Themselves

Saving time means pacing yourself, being organized, and always prioritizing... Read More

Lessons Learned from Successful Entrepreneurs

Entrepreneurs are a special breed of high achievers. They create... Read More

PTO; Justification of the Means and the Ends

Some would say about certain issues that the means do... Read More

Youve Found Your Guru, Now What?

In my last article, "Follow That Guru", I told you... Read More

How to Be an Entrepreneur and Keep Your Sanity

Define for yourself what an Entrepreneur is:What makes you think... Read More

Leadership Attributes for Business Success

Business success is essentially the result of successful leadership. Contrary... Read More

The Entrepreneurial Difference

Who would ever have imagined that going door-to-door in my... Read More

The Role of Statistics in Prospect Modeling

Identifying prospects has come a long way since the days... Read More

Defining a R&D Framework for Entrepreneurship and Innovation on Information Product Generation

IntroductionKnowledge is the key resource that forms the institutional basis... Read More

Top 10 Business Plan Myths of Solo Entrepreneurs

Don't let these stop you from having a business plan... Read More

What It Takes To be An Entrepreneur Series: Action

Many people have the professed desire to be their own... Read More

Everything You Wanted to Know About Public Domain Info, but Were Too Afraid to Ask!

What to Look Out For:Copyright - you absolutely must check... Read More