Barriers to Entrepreneurship: Tackle Them with Technology
Barriers to Entrepreneurship: Tackle Them with Technology

Barriers to Entrepreneurship: Tackle Them with Technology

Entrepreneurs have made a major impact on the US economy, even during trying times. Since 1990, as big business eliminated 4 million jobs, small businesses created 8 million new jobs. And the number of small businesses has increased 49 percent since 1982.

America has been downsizing, and start-ups have stepped into that vacant space in the economy.

Yet, according to Forbes magazine, eight of 10 entrepreneurs fail in the first 18 months. Why such a grim statistic? Consider these new realities for business owners:

1. Disruptive innovation

It’s not just something that happens every century anymore. It’s happening every day. Entrepreneurs must be poised and ready to meet the next challenge or dream up the Next Big Thing.

2. Globalization

There’s more competition for goods and services, as well as for top talent. Not only that, but economic markets are so closely intertwined that a blip 5,000 miles away can have a ripple effect on your business.

3. Stakeholder power

No longer do board members and shareholders have all the control. In this hyper-connected age, employees and consumers often can—and should—drive corporate decision-making.

4. Societal change

Environmental, economic, technological and political changes constitute threats but also opportunities for entrepreneurs, especially those who know how to bolster the bottom line while helping people in the process.

Staying on top of such frequent, large-scale change is no easy task for entrepreneurs, who commonly wear more hats at work than they have time to count!

Successful business owners build resilient organizations that have backups in place well beyond Plan B and employ future-oriented systems that can change as business needs demand. That’s where technology comes in.

Entrepreneurs can use technology to:
* Focus on strategy
* Improve efficiency
* Mitigate compliance risk
* Increase employee satisfaction and engagement

Tech can form the foundation you need to step back and think big, developing the right strategy to power your growth. But how do you get started?

Download the free whitepaper, Entrepreneur’s Guide: 4 Ways to Use Technology to Grow Your Business to learn how to overcome the barriers standing in the way of your business.


Sources: U.S. Small Business Association, Forbes

More to Discover

Executive Summary: 2020 October HR & Compliance Virtual Summit

Executive Summary: 2020 October HR & Compliance Virtual Summit

“This was the best Virtual Summit I’ve even been to!”“Such a great presentation! Thank you for this awesome experience.”“The webinar sessions were so good that I wish there were more!” This is just a sample of feedback from attendees at Paycor’s October HR & Compliance Virtual Summit!On October 13-15, thousands of HR & business leaders attended the Summit to learn from industry experts. They walked away with actionable tips and timely advice around recruiting trends, compliance, maintaining a safe and healthy work environment and so much more!Did you miss any of the live sessions? Don’t worry, we’ve got you covered. You can watch them on our On-Demand Webinars page.In the meantime, check out our executive summary for a quick...

Webinar: My Supervisors Need Training - Where Do I Start? - 11/25 @11AM ET

Webinar: My Supervisors Need Training - Where Do I Start? - 11/25 @11AM ET

This session is approved for (1) HRCI & (1) SHRM CreditWhen an individual is promoted to a supervisory role, appropriate training is often limited by the time, resources and budget on hand. It’s not unusual to find managers who have been in the role for ten, fifteen or even twenty years with no formal supervisory training. Training is often “on-the-job” – otherwise known as trial by fire. In order to have strong, effective supervisors, it is worth the investment of time and resources to provide proper training.In this session, you will learn: - Essential elements of an effective supervisor training program - How to assist supervisors in implementing what they have learned (and how to follow up with them) - How to provide proper and...

Webinar: The State of American Business: Looking Forward to 2021 - 11/24 @2pm ET

Webinar: The State of American Business: Looking Forward to 2021 - 11/24 @2pm ET

Paycor recently surveyed more than 2,000 HR & finance leaders on the state of American business at the beginning of 2021. Join us for this special webinar as we break down the responses!You learn about: The HR/Finance Relationship - only 12% of finance leaders believe HR significantly impacts the bottom line Remote Work - 30% of employees are more productive at home than in the office Benefits - 86% of business leaders are concerned about the mental health and wellbeing of employees Compliance - Only 9% of business leaders ay their HR technology is "very effective" at mitigating compliance risk Register to learn more.Speaker: Matt Bergantino As Director of Content, Matt leads a team of researchers, journalists and subject matter...

Webinar: Manufacturing & Construction Industry Spotlight: Ask an HR Expert - 11/19 @11AM ET

Webinar: Manufacturing & Construction Industry Spotlight: Ask an HR Expert - 11/19 @11AM ET

Let your voice be heard as we’re providing an hour with leading Manufacturing and Construction expert Jon Thurmond to answer your most pressing HR questions as they relate to the unique challenges in manufacturing.If we use your question on our webinar, we will send you a $25 Uber Eats gift card as a thank you.This is a great opportunity for you to get complimentary HR expertise for your organization.Simply register for our webinar and email your question to webinars@paycor.comSpeaker: Jon Thurmond Jon Thurmond serves as the Mid-Atlantic Regional Human Resources Manager for Team Fishel, a utility engineering and construction firm. His experience includes working across multiple industries in roles encompassing Employee/Labor Relations,...