According the SBA, there are currently 30.2 million small businesses in the U.S. making up 99.9% of all businesses.
What’s happening with SMB’s currently?
The anticipated growth of these businesses is on an upswing. There is an increased demand for small business loans as these SMBs look to expand.
What’s next for SMB’s and how can their growth be supported?
As these businesses continue to grow, they need to access talent that traditionally they may not be able to afford. These businesses are starting to get access to these resources without paying full-time salaries and benefits when their needs may be more reflective of a part-time executive resource.
Many of these professionals (e.g. CMO’s CFO’s etc.) have started businesses around supporting the growth of these SMB’s. While a company is still in its infancy, they probably can’t afford to hire a full-time CFO, for example, but they still need to forecast and scale their growth. Outsourcing this need to one of these companies will allow you to hire them and contract them according to your SMB's needs. For example, the company that is in its infancy may only need a monthly or quarterly discussion with a CFO on business proposals and areas for growth. As a business starts to grow, an owner can then strategically think about which parts of the business they may want to outsource, what they should to hire for, and what they may just want to handle themselves.
At L.A. Financial Management, we do exactly this. We love SMB’s and truly love to support the growth of all sizes of businesses. We are proud to grow with our clients and have a hand in their successes. If you are looking for the support of a CFO, contact us today to talk about what we can do for you: https://bit.ly/2MiO9KJ