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/

In The News:


pen paper and inkwell


cat break through


Why Every Student Should Start a Business

With the economic downturn, students in all the major business... Read More

Face The Fear, Ladies

Okay, I'll begin by telling you that I've been divorced... Read More

New Rules

Last week I was working with one of my small... Read More

Achievements Outweigh Education and Experience

Q: When it comes to succeeding in business, which do... Read More

Find Out If You WILL Be Successful As a Franchisee?

Will I be successful as a franchisee?One of the soundest... Read More

Dream It, Create It, Become It! Design a Dream Board

Have you ever heard of "Dream Boards" or "Treasure Maps"?... Read More

Salon Marketing Using Wireless Broadband Internet Access

Our client in Chicago did, located right outside downtown too...a... Read More

Six Steps to Guarantee Your Business Success

Many of us slave away for years for one uninspiring... Read More

Do You Have What It Takes?

I think it's fair to say that not everyone is... Read More

Are You Sure You Want To Start Your Own Business? Part Two of a Series

Why, exactly, do you want to go into business for... Read More

Is Now the Right Time to Become An Entrepreneur?

A number of economic changes are magnifying the role of... Read More

Protect Your ASSets in Business

Many people are starting an online business without a thought... Read More

Walt Disneys Failures Could Inspire Entrepreneurs

You are a struggling entrepreneur and sometimes it feels like... Read More

Identifying the Right Venture Capital Firm Partner

Venture capital firms are comprised of individual partners. These partners... Read More

The Magic of Thinking Small

Hey!Many of you might disagree and I'm prepared for that.Many... Read More

Message to Prospective Franchisees for Franchisors

Many franchise companies fail to send the proper message to... Read More

Franchises - Emotional Fulfillment - The Challenge

Does A Franchise Meet Your Needs?Do you look forward to... Read More

Chairman Greenspan and the FED, learn more you will be glad you did

So many people work their whole life to make money,... Read More

Before Getting A Franchise

Buying into a franchise is a great way to be... Read More

Ancient Warrior Secrets For The Modern Entrepreneur

The words you see onscreen trigger subconscious responses. Dark images... Read More

Developing A Contract

As a service provider, the most important type of "boundary"... Read More

Increasing Business BIGTIME with a Successful Referral System

What I've discovered from most of my small business clients... Read More

Venture Capital Negotiating Issues

When companies enter into negotiations with venture capital firms, there... Read More

Do You Have What It Takes To Be An Entrepreneur?

Q: I am interested in starting my own business. I... Read More

Bring That Difference To Your Business!

Romans had a phrase for this- First among Equals.Online marketing... Read More

If It Was Easy Everybody Would Do It

Q: I started my business about a year ago and... Read More

What Makes a Person an Entrepreneur?

Entrepreneurship is generally characterized by some type of innovation, a... Read More

Oil Change Guys History; Part III

Studying the history of franchise companies is interesting is watching... Read More

Six Degrees of Separation

Through just five or six intermediaries, you could be linked... Read More

PTO; Justification of the Means and the Ends

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

Oil Change Guys History; Part IV

One trait of franchisors and something you will find in... Read More

10 Tips for Would-be Entrepreneurs

Every evening as the sun sets beyond the mangroves that... Read More

Find Me the Expert on This!

Many people who set up as consultants never make more... Read More