See also on SmallBusiness.com | Encore entrepreneurs who made starting businesses their retirement “hobby.”

The researchers examined “high growth” start-ups established between 2007 and 2014 and analyzed the top 0.1 percent — defined as those with the fastest growth in employment and sales.

Quote

Using data anonymized data of 2.7 million business founders, the researchers calculated that the founders’ average age was 42. And for the founders of the 0.1 percent fastest-growing firms, the average age was 45. Firms that were successful enough to have an initial public offering or be acquired by a larger company showed the same pattern: Their founders were generally middle-aged.

The research suggests that entrepreneurial success isn’t just a function of raw intelligence and a propensity for risk-taking. It depends on a variety of ingredients, many of which appear to improve with age.

See more in the NYTimes.com article, “Founders of Successful Tech Companies are Mostly Middle Aged”

The vast majority of information and resources for starting and operating a business is helpful for any type of potential or existing small business owner, regardless of how we’re different. Yet, as we’re exploring the U.S. resources for various types of small business owners, we are reminded of the ways we need to break down historic barriers and encourage business development where opportunities have not always existed. Recognizing those needs exist, the United States has created a network of resources to address the unique needs, challenges and opportunities of emerging entrepreneurs. These resources seek to “level the playing field” for women business owners, who still face unique obstacles.

As part of our recognition of International Women’s Day, March 8, 2019, we’re sharing this directory of U.S. resources for women business owners.

SBA Office of Women’s Business Ownership

The mission of the Small Business Administration’s (SBA) Office of Women’s Business Ownership is to enable and empower women entrepreneurs through advocacy, outreach, education and support.

On the web: Office of Women’s Business Ownership 

Women’s Business Centers

Supported by the SBA, Women’s Business Centers (WBCs) represent a national network of more than 100 educational centers throughout the United States and its territories. These centers are designed to assist women in starting and growing small businesses. The SBA’s Office of Women’s Business Ownership (OWBO) oversees the WBC network, which provides women business owners (especially women who are economically or socially disadvantaged) comprehensive training and counseling on a variety of topics in several languages.

Directory of Local Business Centers

 National Women’s Business Council

The National Women’s Business Council (NWBC) is a federal advisory council created to serve as an independent source of advice and counsel to the President, Congress and the U.S. Small Business Administration on economic issues of importance to women business owners. The council’s mission is to promote bold initiatives, policies and programs designed to support women’s business enterprises at all stages of development in the public and private sector—from start-up to success to significance.

On the web: National Women’s Business Council

Related Organizations

These non-government organizations extend the network and resources of the SBA through idea-exchange and the support of volunteers and the private sector.

Association of Women’s Business Centers

Provides women business owners and entrepreneurs with a variety of support and services, including help in securing rounds of venture capital.

National Association of Women Business Owners

Provides information on an association committed to helping women entrepreneurs become effective in economic, social and political spheres of power.

Score

Free and confidential business advice from mentors, both online and in-person.

Also on SmallBusiness.com | Trademark and Copyright Information
On the SmallBusiness.com WIKI | Copyrights and trademarks

First things first | Don’t confuse the term “trademark” with the act of registering or licensing a company. When you register for certain state permits or licenses, you are not registering your company’s trademark.

Reasons why a small business might prefer a state trademark over a federal trademark

Reasons a small business might prefer a state trademark over a federal trademark include these:

Not qualified for a federal trademark | Federal trademarks are issued only to trademarks involved in interstate commerce (businesses that cross state lines). Therefore, if you don’t qualify for a federal trademark because you do not engage in interstate commerce, your only choice is to register your trademark at the state level.

Quicker to register than a federal trademark | Obtaining a federal trademark may take from 9 to 16 months, whereas obtaining a state registration is usually a quicker process, sometimes taking only a few weeks.

Less hassle, less expensive | Getting a state trademark is less complicated and costly than a federal registration

Reasons why a small business might prefer a federal trademark over a state trademark

Reasons a small business might prefer a federal trademark over a state trademark include these:

All things equal, federal trademark take precedence over a state trademark | Federal registration has priority over a state trademark registration if the federal registration was obtained prior to the state’s application date

Not useful in international disputes | State trademark registrations cannot form the basis for filings in other countries.

Not useful in custom disputes | A federal trademark registration can be used to stop unauthorized imports at the U.S. border, but a state trademark registration cannot.

Limited geographic protection | A state registration protects the mark–at most–within the borders of the state and does not protect the mark in the rest of the United States.

Use of the ® symbol | The owner of a federal trademark registration may use the ® symbol. A state trademark registration does not confer the right to use the ® symbol.

Links to trademark information in all 50 states

Photo: ThinkStock

This free and clever online start-up calculator from CardConnect enables a user to estimate the costs of starting a new business. Note: There are aways plenty of “gotcha” costs that you’ll likely discover along your start-up journey. So, use the calculater as a tool for estimating — loosely — but always seek advice from your professional advisors and other experts.

Click over to the startup cost calculator.

Bonus | While the promotional tool uses the term “start-up,” it can also be used for planning any major project or product launch. Just be sure to adjust for the specific costs you may — or my not — need to include in the project.

Also see | An overview of SmallBusiness.com resources that can help you start a business.

What are startup costs?

Startup costs refer to any costs involved in the setting up of your business, including expenses incurred in getting your business to the point where it’s ready to start selling to customers.

Click over to the startup cost calculator.

• First, pick your startup size (bootstrap, medium or large). This choice will serve as the basis for your startup calculator. 
• Next, name your project. Give your project a suitable name and then click the ‘Save’ icon to create a unique web link for your calculator, which you can return to at a later date.
• Fill in your calculator. The size of startup you selected at the beginning of the process will dictate the starting point for your overall costs.

There are six broad factors the calculator factors into the start up cost:

• Pre-trading | These are the costs you’ll incur to set up your business, including articles of incorporation and obtaining appropriate licenses.
• Administration | Fees related to accounting, bookkeeping and insurance – plus any ongoing professional fees (legal or consultant).
• Marketing | Market research and marketing for launch.
• Operations |  Cost off starting inventory/materials, in addition to general supplies, postage/shipping costs, and telephone & internet charges.
• People | Employee or free-lancer costs. (Labor)
• Space. Rental charges for office hardware and software

Contengency funds can be reflected in “costs available” in each category.

• Keep your calculator updated. As you discover new information or carry out fresh research, return to the calculator using your saved web link and update your figures.

Examples of start-up costs by category

Each calcuator “guide” contains a link to a pre-set startup cost calculator, to help you get started.

• Coffee Shop Startup Costs
• Restaurant Startup Costs
• eCommerce Startup Costs
• Salon Startup Costs
• Food Truck Startup Costs
• Retail Store Startup Costs

You will need to do a little extra research into your own state/location to ensure you are able to accurately predict your expenses.

Good luck.

Also see | An overview of SmallBusiness.com resources that can help you start a business.

• Illustrations and calculator used by permission from CardConnect
• Start illustration | Getty Images

Two-thirds of Americans dream of opening a small business, according to a recent study by Atomik Research commissioned by the UPS Store. And among individuals ages 37-57 (Generation Xers) 75% of those surveyed had the dream of opening a small business.

“Gen Xers (individuals between ages 37-57) feel the most optimistic and most willing to branch out and start their own small business,” according to Dr. Luke Pittaway, Ohio University College of Business Copeland Professor of Entrepreneurship. “This portion of the workforce is most likely well established in their career, financially equipped and starting to think about how they’ll spend the final stages of their career. In many cases, even when Gen Xers and Boomers reach retirement age, instead of grabbing their golf clubs or boarding a cruise ship, they’ll be looking for their next professional act. More and more we’re seeing that later career stages and retirement is the time professionals open a small business, and for many, it’s the first time.”

 See related | The SmallBusiness.com Guide to Starting a Business

American adults of all ages dream of starting a small business

66% | Survey respondents who said they dream of starting a small business

Respondents who are 37-57 especially want to start a small business

75% | Generation Xers who dream of starting a small business

Of these Generation Xers, what types of businesses would they start

29% | Businesses that provide technology solutions
22% | Food/restaurant services
21% | Product/consumer goods

Reasons respondents give for starting a small business

38% | Being their own boss
17% | Believing in the power of their own idea
15% | Creating their next career path

Top fears related to opening a small business

45% | Financial insecurity
39% | Financial commitment required
37% | Fear of failure

Both men and women are optimistic about opening a small business

47% | Percentage of men optimistic about opening a small business
43% | Percentage of women optimistic about opening a small business

Where would they operate a small business?

56% | Home-based business
30% | Brick and mortar retail
20% | e-commerce business

istock

Also on SmallBusiness.com

Half of U.S. Millennials Want to Start a Business During the Next Three Years

In response to our Top 20 most frequently asked questions about Small Business article, we often are asked where researchers can dig deeper into certain answers we provide. (The answers have links to sources, but it’s a challenge to find just the right answer you may be seeking when plowing through the massive vaults of data maintained by the U.S. Bureau of Labor Statistics.)

One of the most consistently asked questions has to do with the survivability of a new business. Apparently, someone once-upon-a-time said that (fill-in-the-blank) businesses fail within (any-number-you-make-up) years. There are many reasons this statistic is wrong (no matter what you put in the blanks), but here are a few obvious ones: Businesses in one industry have survivability rates different from businesses in other industries. And different regions of the country have recessions and booms at different times. And different locations within one section of a town have closure rates a block away. You get the idea.

The good news: long version

Another thing that “failure” statistics users fail to mention. The vast majority of Bureau of Labor and Statistics data is focused on job creation and “closures” of business.  And “closures” are not always failures. For example, closures of profitable businesses occur frequently. Mergers and acquisitions of businesses can result in one less business, but that’s not the same as a failure to the BLS, the most comprehensive source of statistical data related to business and job creation, survivability and length of operation.

Want to go for a deep dive into statistics related to business survivability? If so, the links below are to information maintained by the BLS that are related to jobs, businesses (or establishment)  and survivability rates in a broad range of industries and in all 50 states.

The table of size standards can also be found online in the Small Business Size Regulations published by the Electronic Code of Federal Regulations. You can also check whether your business is small using the size standards tool.

The great news: short version

Want to skip the thousands of spreadsheets linked below? In 2014, the Washington Post’s Fact Checker did the math to show that businesses don’t fail as often or as fast as the pseudo-experts may claim. Here’s what they discovered:

“As far as we can tell, there is no statistical basis for the assertion that nine out of 10 businesses fail. It appears to be one of those nonsense facts that people repeat without thinking too clearly about it.”

Washington Post Fact Checker

Jump to state-by-state data

National Data by Industry

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Agriculture, forestry, fishing, and hunting

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Mining, quarrying, and oil and gas extraction

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Utilities

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Construction

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Manufacturing

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Wholesale trade

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Retail trade

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Transportation and warehousing

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Information

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Finance and insurance

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Real estate and rental and leasing

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Professional, scientific, and technical services

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Management of companies and enterprises

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Administrative and waste services

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Educational services

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Health care and social assistance

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Arts, entertainment, and recreation

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Accommodation and food services

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Other services (except public administration)

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Establishment age and survival data by state

Alabama

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Alaska

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Arizona

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Arkansas

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

California

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Colorado

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Connecticut

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Delaware

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

District of Columbia

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Florida

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Georgia

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Hawaii

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Idaho

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Illinois

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Indiana

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Iowa

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Kansas

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Kentucky

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Louisiana

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Maine

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Maryland

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Massachusetts

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Michigan

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Minnesota

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Mississippi

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Missouri

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Montana

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Nebraska

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Nevada

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

New Hampshire

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

New Jersey

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

New Mexico

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

New York

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

North Carolina

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

North Dakota

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Ohio

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Oklahoma

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Oregon

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Pennsylvania

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Puerto Rico

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Rhode Island

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

South Carolina

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

South Dakota

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Tennessee

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Texas

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Utah

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Vermont

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Virginia

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Virgin Islands

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Washington

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

West Virginia

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Wisconsin

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Wyoming

• Table 1. Private sector gross jobs gains and losses by establishment age
• Table 2. Private sector gross jobs gains and losses, as a percent of employment, by establishment age
• Table 3. Number of private sector establishments by direction of employment change, by establishment age
• Table 4. Number of private sector establishments by direction of employment change by establishment age, as a percent of total establishments
• Table 5. Number of private sector establishments by age
• Table 6. Private sector employment by establishment age
• Table 7. Survival of private sector establishments by opening year

Last Modified Date: November 8, 2017

According to a survey released today (May 31, 2017), American Millennials (those born between the years 1977 and 1995) have a strong inclination to start and own a business. More than any other age group, Millenials have dream businesses they would love to start. Also, they have the intention of starting a small business in the near future. According to the survey from America’s SBDC, a network of small business development centers, and conducted by the Center for Generational Kinetics, the desire by Millennials to start new businesses is not just an idealistic adventure. “There is an optimistic, but also practical and calculated element as well, “Charles “Tee” Rowe, president of America’s SBDC, told SmallBusiness.com. “Millennials, more than any other generation, believe  there is more job security in owning your own business than in working for someone else.”

“What types of business can succeed in a community with a population less than 100?” That’s a question Becky McCray is asked often. The expert in rural and small town business creation and growth (and a small town multi-business owner) says starting a small business anywhere is a challenge. But technology advancements, the growth of online marketplaces, and logistic innovations during the past two decades have shrunk the world. Also, the growth of the “buy local” movement has provided the incentive to city retailers,  food markets and restaurants to seek relationships with nearby suppliers in rural areas and small towns. Becky, a longtime friend of and contributor to SmallBusiness.com, provides the following advice about starting a business in a very small town.

Innovative Rural Business Models

To help people consider the creativity necessary to start and grow a small business in a town, I use examples of companies and towns that are Innovative Rural Business Models. These are small business owners and communities that display the following characteristics.

They Think Tiny

Expecting one single business to fill an entire building is a barrier to entry. So innovative rural businesses find ways to divide large spaces up, allowing many different businesses to fill just one tiny space. For example, in Washington, Iowa, there is a business called The Village. The huge old department store sat empty for decades because no one could fill all 15,000 square feet. It has now been divided up into a little “village” of shops that have only a few hundred square feet to fill. These smaller spaces give a lot more people the opportunity to try out a business idea.

The Villiage, Washington Iowa

They Think ‘Temporary’

Businesses may pop-up for a day, week, or season. The old image of a traditional business had them lasting for years, maybe decades–with little change. Innovative Rural Business Models accept that new businesses can come and go in a flash as the owners learn something, develop more assets, and gather more fans and customers for their next venture. Think about booths at events as opportunities to test entrepreneurial ideas and products. Almost every town has some kind of special event that could allow booths that enabled more business experiments to happen.

ARTesian Galleries, Sulfur Oklahoma

They Find Ways to Work Together

Rural people know how to work together, how to rely on each other. That’s why we excel at this model, where separate businesses share a space. Small towns have many examples of a store inside another store, a business inside a business, as well as co-working spaces, maker spaces, shared studios, galleries, and shared commercial kitchens. Commercial kitchens can be expensive to certify and may sit idle much of the time. That’s another barrier to entry for traditional businesses. Sharing kitchens can lower that barrier, allowing many new experimental businesses to pop-up. Co-working and maker spaces bring together diverse small businesses to share the assets of a physical location and to connect with each other. Shared art studios and galleries, like the ARTesian Galleries in Sulfur, Oklahoma, extend the sharing and networking benefits to artists.

The Peach Truck (ThePeachTruck.com)

They go mobile with trucks, trailers & social media

In big cities, “food trucks” and “trailer shops” have become an accepted and popular part of the retailing ecosystem. Rather than depending on having a market in one town only, innovative businesses are hitting the road to round up customers. Retail stores and boutiques now commonly operate from a truck or trailer. But you can’t just drive up your truck into people’s yards (unless, perhaps, you are the ice-cream man). You must reach out to them with your unique story told in your personal way. The Peach Truck has become a four-state operation by developing a transportation network and working with peach farmers in Georgia. The credit part of their reason for their growth to Instagram. Their photos are beautiful and have led to nearly 60,000 followers who can’t wait for the summer and the arrival of the Peach Truck (and canopy stores) to arrive. Many of their Instagram posts are about the men and women in small towns who grow their peaches.

Service businesses are using this model, too: wedding planners, financial consultants. Just about any kind of business can go mobile, expanding the market size of a small business in the smallest of towns.

They see opportunity beyond the town limits

Remember that you don’t have to rely on your physical marketplace. There are plenty of location-independent ideas. If you have skills you can use via computer, you can be anywhere. Writers, graphic designers, programmers, consultants, web designers, marketers, virtual assistants, and more people can build a business anywhere they can find internet access, even if the town itself is very small.

They practice creative ownership

For rural areas where people don’t have a lot of personal assets or wealth, the traditional model of risk of ownership may be too much for one person to bear alone. That’s why community ownership, cooperatives, and employee-owned models are appealing. Cody, Nebraska (pop. 154), has a community-owned and high shool student-run grocery store, the Circle C Market. The students even built the building! Now, they run the store.

Circle C Market, Cody, Nebraska

Learn More

• Learn more about the Innovative Rural Business Models in the video library at SaveYour.Town.
• The Tionesta Market Village is a terrific example of using the Innovative Rural Business Models to nurture many small businesses together in one space, all in a town of 500 people.
• 20 Small Ideas for Small Towns is a short ebook detailing 20 different ways you can make a successful business in a small town. It also covers seven ways to generate your own ideas, so you can dream up the small biz idea that best fits you. (PDF)

Cover photo by SmallBusiness.com: Reds Eats Lobster Shack, Wiscasset Maine

Two of my favorite words are “free” and “learn.” For that reason, at SmallBusiness.com, we are always looking for the best possible ways to learn how to do something new or better without having the spend lots of money in the process. However, I’ve learned also that it’s not always a good idea to cut corners when trying to learn something about running a business: a great instructor or course can be a bargain if you are like a friend of mine who describes mistakes using the metric, “that cost me the equivalent of tuition for a year in an Ivy League college.” Fortunately, these courses are free but they are noted for being excellent ways to fill in the gaps of knowledge you might need to start, run and grow a business.

Starting a Business

My Own Business Institute (MOBI), Santa Clara University

(Note: The My Own Business Institute (MOBI) was created at the Center for Entrepreneurship and Innovation at the Leavey School of Business at Santa Clara University. Funded with a $17.5 million endowment, its mission is to support the vital social and economic contributions of small businesses worldwide.)

This course is designed for someone who wants to start a business. Compromised of 15 sessions, you can cover the coursework at your own pace and learn the essentials. The content is clearly explained and has an emphasis on learning how to write a business plan. All of the sessions of the course are available for preview.

Session   1: Deciding on a Business
Session   2: The Business Plan
Session   3: Home Based Business
Session   4: Financing the Business
Session   5: Business Organization
Session   6: Licenses and Permits
Session   7: Business Insurance
Session   8: Communication Tools
Session   9: Buying a Business or Franchise
Session 10: Location and Leasing
Session 11: Accounting and Cash Flow
Session 12: E-Commerce
Session 13: Opening and Marketing
Session 14: Managing Employees
Session 15: Expanding and Handling Problems

Business Expansion

My Own Business Institute (MOBI), Santa Clara University

(Note: The My Own Business Institute (MOBI) was created at the Center for Entrepreneurship and Innovation at the Leavey School of Business at Santa Clara University. Funded with a $17.5 million endowment, its mission is to support the vital social and economic contributions of small businesses worldwide.)

This course helps established business owners advance their business to the next level. Comprised of 15 sessions, you can cover the coursework at your own pace. Learn how to strengthen operations, seize opportunities and plan for the future. This course covers appropriate internal controls, expansion opportunities, evaluation methods and exit strategies.

Session   1: Getting Financial Controls in Place
Session   2: Getting Your Team in Place
Session   3: Customer Feedback
Session   4: Achieving Lowest Expenses
Session   5: Develop Negotiating Skills
Session   6: Alternatives for Capital Allocation
Session   7: Advanced E-Commerce
Session   8: Growth By Duplication
Session   9: Vertical Integration
Session 10: Franchising Your Business
Session 11: Global Expansion
Session 12: Buying Businesses
Session 13: Public Ownership
Session 14: Selling Your Business
Session 15: Considerations for Family Succession

Entrepreneurial Marketing

Massachusetts Institute of Technology (MIT)

This free online course is available as part of MIT’s Open Courseware program. Professor Jin Gyo Kim covers basic marketing concepts, methods, and strategic issues relevant for start-up and early-stage entrepreneurs. There are two major questions:

1. Marketing Question: What and how am I selling to whom?
2. New Venture Question: How do I best leverage my limited marketing resources?

Specifically, this course is designed to give students a broad and deep understanding of such topics as:

1. What are major strategic constraints and issues confronted by entrepreneurs today?
2. How can one identify and evaluate marketing opportunities?
3. How do entrepreneurs achieve competitive advantages given limited marketing resources?
4. What major marketing and sales tools are most useful in an entrepreneurial setting?

Because there is no universal marketing solution applicable to all entrepreneurial ventures, this course is designed to help students develop a flexible way of thinking about marketing problems in general.

If you’re considering starting a business, one of the first things you’ll need to do is develop a business plan. However, business plans come in various flavors. There’s the plan you develop to prove to yourself and others that your great idea can actually make money. There’s the plan the bank wants to see if they are going to consider lending you money (even if you provide collateral). And there’s the plan you need if you are seeking outside investors (9.8 out of 10.0 degree of difficulty if this is your first start-up.).

No matter what type of business your plan is for, there are certain parts of a business plan that must be included (or followed), according to business plan expert, Tim Berry, founder of Palo Alto Sofware, author of The Lean Business Plan and creator of LivePlan. Here are his four must-haves:

1 | Projections are not important for their actual numbers as much as for their presentation of drivers, relationships between growth and spending, key spending priorities, sales aspirations, and assumptions related to cash flow.

They have to be solid and integrated, but accuracy is much more a matter of transparent assumptions than accurately predicting the future.

2 | All business plans should include these components.

• Strategy
• Tactics
• Milestones
• Tasks
• Assumptions
• Essential numbers
• Projected sales
• Direct costs
• Expenses
• Cash flow

3 | All business plans should provide the ability to measure accountability and track results.

4 | All business plans should be reviewed and revised at least monthly.

The review should look for assumptions that need to be changed. The review should analyze the projected results vs. actual results. Revisions should be based on the variation between the two.

istock