
In this free employee engagement series, participants will shift the story from buzzwords to better connections, find the root of disengagement and increase productivity and morale.
The Tip of the Mitt SCORE chapter, located in scenic Northern Michigan, was established in 1988. We have 25 dedicated volunteers who provide free business advice, no-cost business training through webinars and workshops, and contribute to our library of numerous templates and tools.
Several years ago, the concept of strategic business units or SBUs was introduced.
In short, it proposed breaking a business into smaller businesses to better control and help capital allocation decisions. An example would be a restaurant that not only provides sit down meals but also carry out foods such as baked goods, along with catering. Let’s assume at the end of this year the business has approximately $100,000 profit after wages, profit sharing, taxes, etc. have been paid. The question is: What do I do with the $100,000?
Assuming all three can grow, and can use cash for growth
Many business owners are struggling to find and keep employees. With unemployment so low, keeping your staff happy and onboard is even more difficult. We used to have a number of applicants to choose from but now are happy to have anyone apply. Since the search for employees is so competitive, many small businesses are being more accommodating to their employees. According to American Express Small Business Recovery Report, to stay competitive in the labor market, 49% of businesses offer flexible work options, with hybrid work being the most popular option (27%). This solution has proved
In this free employee engagement series, participants will shift the story from buzzwords to better connections, find the root of disengagement and increase productivity and morale.
We believe that anyone can start and manage a successful small business. We also know that the road is harder for some than for others. Diverse backgrounds, different voices and unique needs may call for specialized resources and mentoring approaches.
SCORE is listening, recognizes these diverse needs, and provides personalized support in a wholly-inclusive platform called SCORE for All.
Since 1964, SCORE has educated and mentored more than 11 million small business owners and entrepreneurs. We're looking for people with diverse backgrounds and experiences to serve in a variety of roles — from knowledgeable business mentors to local community advocates.
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Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.