5 Professionals You Need In Your Small Business Workforce
Many people look at starting a small business as a great opportunity to carve their own entrepreneurial success story. For many, owning a small business can provide unparalleled flexibility, creative control, and job satisfaction. With that in mind, here are the 5 Professionals You Need in your business.
5 Professionals You Need
The notion has become so popular, that as of 2022, there are around 33.2 million small businesses in America. This accounts for 99.9% of all businesses in the country. However, while it’s easy to romanticize small business ownership, the reality of running it is more complicated. In fact, 2 out of 10 small businesses fail within the first two years of operation. Another 45% shut down after three more years. One of the most common reasons behind this is poor management and strategy.
One of the best ways to prevent this is to empower yourself with a well-rounded team. It’s especially important for small businesses to have the right people working with them, considering that funding and resources tend to be tighter. As such, knowing which type of professionals should be prioritized when hiring is essential. This article lists the five workers you should consider recruiting for your small business workforce.
One of the biggest risks of starting a small business is financial failure. Around 64% of small businesses are threatened with bankruptcy throughout their operations. This highlights the importance of having a budget and understanding your business’ capacity. As such, having a financial professional, specifically hiring a financial analyst, would highly benefit the team as they can ensure the longevity of your small business. A financial analyst’s responsibilities include cost control, auditing, and establishing profit plans. They’re also in charge of assessing potential investments and tax compliance. In doing so, they can protect your capital and promote cash flow for your small business.
Establishing a small business requires lots of legal dealings. Firstly, you must set up a business structure, such as an LLC, which requires multiple certificates for registration. Hiring a team and finding vendors also calls for contracts, all of which have to be written or overseen by a legal professional. However, it’s understandable that, unlike huge corporations, small businesses may not be able to afford to keep a lawyer on retainer upon launching. Still, it’ll be extremely helpful to find one that you can consult with for any legal matters, especially regarding employment. With a lawyer, you can safeguard your legal proceedings and ensure you’re abiding by the laws that govern your industry.
A 2022 survey on customer satisfaction found that 82% of consumers are likely to spend more for businesses that offer excellent online services. Thus, finding a professional that can provide Information Technology (IT) support is essential to ensure that your small business’s digital side is working smoothly. These employees will be in charge of overlooking the security of confidential business information and implementing new technology that can make business operations more efficient. In this digital age, your small business needs to be updated so that you can have a competitive edge.
In line with IT support, online branding is a factor that many consumers consider in their decision-making. Designing an effective website can compel clients to avail of your services and help boost public awareness about your business. In order to do this, it’s best to approach creative experts, such as QUIK Websites + Hosting, which is currently one of the fastest-growing professions due to high demand. Most of a web designer’s tasks involve developing and testing website interface layouts and navigation. It’s their job to guarantee a website’s optimal usability. With their help, your small business website can leave a good impression on potential customers.
Human Resources Specialist
Early in 2023, the U.S. job market recorded the highest rates ever for job satisfaction. Many employees attributed this to better working conditions and culture. Both of these fall under the scope of human resource management. They oversee employee retention by attending to the well-being of workers. Through their employee-centric initiatives, such as wellness programs, they can also improve team productivity and engagement. By having a dedicated human resource specialist as part of the team, the workforce of small businesses will have better chances of thriving.
5 Professionals You Need
While you may need more help than the above, we believe that for most small businesses, those are the 5 Professionals You Need! If you have any questions, drop us a note and we’ll be happy to help out or provide a referral.