Technical Assistance

Improve your odds, learn how to run your small business better

Yes, successful small business owners do make running a business look so easy.

Make no mistake, no one was ever born with expert business skills, successful owners have learned a great deal.

Unfortunately, small business owners are rarely able to take the time to become experts in the principles and practices of business before launching their entrepreneurial endeavor.

Then of course it is not surprising that data from the U.S. Bureau of Labor Statistics, indicates 20 percent of small businesses fail within their first year. By the end of their fifth year, roughly 50 percent of small businesses fail. After 10 years, the survival rate drops to approximately 35 percent and after 20 years only 20 percent of the original businesses remain.

While business owners list lots of reasons for their failures, research indicates that 90 percent of business failures were due to the owners' lack of skills, knowledge or understanding. In other words, they don't know what they don't know.

In support of this findings, independent research by the United States Small Business Development Center concludes that 90 percent of small businesses getting assistance from an established source of expertise were still in business after five years.

Over the last 150 years, the Business Apprenticeship programs that once spanned our nation have faded into history as business schools were introduced into the university system. Today, programs like the Kauffman Foundation's FastTrac program and the Goldman 10,000 Small Business program strive to satisfy the demand for small business knowledge.

 

NEW! - free online digital learning platform for women entrepreneurs

The U.S. Small Business Administration recently announced the launch of Ascent, a first-of-its-kind, free digital e-learning platform geared to help women entrepreneurs grow and expand their businesses. Ascent has valuable content such as tips on preparing and recovering from disasters, strategic marketing and business financial strategy development. Visit Ascent.SBA.gov and register for your free access today.

Play it smart, use these resources

SCORE Workshops

Get training on a variety of business topics including marketing, finance and accounting, management, and others in free or low cost workshops.

SBDC Workshops

Washington SBDC training provides practical, real-life solutions tailored for the entrepreneur and facilitated by knowledgeable business professionals.

Milgard Assistance

The University of Washington, Tacoma, Milgard School of Business will provide free assistance to help companies solve their business problems.

Ventures

Ventures offers an initial eight-week Business Basics course to help people reach their goals and move their businesses forward.

Impact Northwest

Business Impact NW provides the coaching, classes and capital you need to successfully launch and grow your business.

Goldman Sachs

Providing access to education, capital and business support services - hosted by Craft 3 in Washington State.

Kauffman FASTTRAC

A flexible course with a solid framework to support you as you start a business and begin your journey to success.