Updated: Apr 21, 2020
Small Business Management Specialist
As per recent reports published by the U.S. Small Business Administration, there are 30.2 million small businesses in the United States that account for 99.9 percent of the total US businesses. However, one in every twelve small businesses closes every year due to a lack of knowledge, loan management, and inability to grow due to ineffective business models. Moreover, due to this lack of expert guidance, only one in three businesses survive for more than ten years. Enrolling in a Small Business Management program can provide small business owners with the right skill set to improves the odds of success in their business.
Why Seek Small Business Management Specialist Program
Becoming part of a small business management specialist program equips candidates with the knowledge needed to navigate complex small business processes across a variety of industrial domains. It involves becoming aware of how franchising, partnerships, and Buyouts work, and how family businesses operate. Emphasis is put on learning business ethics, financial accounting and pricing decision making, legal structures, government-funded loan programs, and of course, filing taxes. Additionally, they are provided with knowledge on how to manage financial and business risks for small businesses in volatile and complex situations.
What you will Learn From a Small Business Management Program
Understanding the Entrepreneur and Its Challenges
Addressing Franchising and its Process
The Importance of Marketing and Marketing Plans for a Small Business
Legal Structures and Strategic Alliances
Sources of Capital and Cash flow of a Business
Importance and Different Types of Insurances
Implementing a Cost Structure and Strategic Pricing
Leadership and Time Management
Market Potential For Startups
The Role of a Small Business Specialist
Small business management specialists provide a wide range of support to small business owners and startup entrepreneurs. Because not all small business owners are well versed in banking and accounting matters, they are provided with advice on the best business credit line, sources of finance, how to raise capital, treasury management tools, and payment solutions that help a business grow. A Small Business Management Program can also help you train employees and advise them on how to turn service experiences into prudent sales and profit opportunities. For small businesses, missing on opportunities may lead to failures and only a small business management specialist is equipped with the tools to help bring balance between financial and business practices.