Small businesses are struggling to hire and retain workers, with over 63% having difficulty during the COVID-19 pandemic. Employee engagement is important for a small business's success, and "quiet quitting" can be damaging. Small businesses must exercise creativity and flexibility to motivate and inspire their teams, attract new talent, and achieve success.
Because of the outsized impact that small businesses can have in rural communities, rural entrepreneurs are the subject of SCORE’s latest “Megaphone of Main Street” series.
This “Megaphone of Main Street” data report by SCORE examines how small businesses are being impacted by the current economy and inflation, how turbulent economic factors have affected their profitability, and what they have done to protect their businesses in response.
SCORE’s latest “The Megaphone of Main Street” data report series delves into the story behind the impact of COVID-19 on small business hiring and the challenges small business owners face in their search for employees.
There are three groups of entrepreneurs who contribute more to the economy than any other. They are first-generation or immigrant entrepreneurs, veteran entrepreneurs and encore entrepreneurs (those age 55 and older). For the past 25 years, despite many challenges, these “unsung entrepreneurs” have contributed to entrepreneurship at a greater rate than the general population.
The report specifically looks at Black- and Hispanic-owned small businesses, using both qualitative and quantitative data directly from a diverse group of roughly 3,500 small business owners across the nation.
The first year of operations is a critical time for any small business, with decisions made about market focus, finding financing and hiring a team that will have a significant impact on the business’s success or failure in the future.
research continues to show significant gaps between women including men-owned businesses in several key areas including financing, revenue and hiring practices.
This data report unveils statistically significant survey findings drawn from 18,000 respondents, enhancing existing available data on American small business ownership.
SCORE’s latest “The Megaphone of Main Street” data report series delves into the story behind the changing face of U.S. small business hiring and employment.