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/


Prescription for the Future and Technological Revolutions

The world sure has changed in the last two-decades hasn't... Read More

16 Vital Traits Shared by All Successful Entrepreneurs

The first step in deciding whether to start a business... 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

Questions For The Entrepreneur To Be

Entrepreneurial e-gnorancePart 1: Questions for the entrepreneur to beIf you... Read More

The Cockroach Test

Let me ask you a question? Imagine I would offer... Read More

Are You An Entrepreneur?

With all the buzz about everybody being an entrepreneur these... Read More

Franchisor Sample Grand Opening Launch for New Franchised Outlets

It is paramount that all franchising companies work hard in... Read More

Cut to the Quick - What is an Entrepreneur? The Inside Story

Enjoying the title of entrepreneur is a hollow feeling.If you... Read More

Starting a Company on a Shoe-String Budget

A lot of people never start businesses because they believe... Read More

Judging Entrepreneurial Ideas

Most entrepreneurs constantly come up with new ideas. Whether they... Read More

Applying The Daffodil Theory into Business Practice

At times all of us need a bit of inspiration... Read More

Entrepreneurs Just Get Better With Age

Q: I'm thinking about starting a business after I retire... Read More

Top 10 Business Plan Myths of Solo Entrepreneurs

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

Part-Time/In-Home Business - Low Expense and Low Risk

As a first time entrepreneur, there are a variety of... Read More

PTO; Justification of the Means and the Ends

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

Angel Investors: 7 Online Business Plan Scams and 1 Real Deal

We've all seen the hype: "We'll put your plan in... Read More

How To Find Focus And Turn Your Talent Into A Thriving Professional Business

There are tons of books and articles available to help... Read More

Definition of Entrepreneur

EntrepreneurAn entrepreneur is a man who organizes and manages the... 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

Strategies for Overcoming Obstacles to Discovering Your Gifts

What are the unique gifts that differentiate you from other... Read More

Double Down on Marketing

If you want to compete in the world of high... Read More

Oil Change Guys History; Part III

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

Hearing That Entrepreneurial Voice?

Women business owners are our only clients, so naturally we... Read More

100% of Nothing

What would it be worth to you to receive a... Read More

Can You Make Money Without Money?

When I ask why you don't start your own business,... Read More