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
Buyer's Guide To HCM And Payroll Technology
An HCM platform is the foundation of your business, and choosing the technology is one of the most important decisions you'll make.
Get ExpertiseMore to Discover
Banker
Paycor + Regions Bank: A Homerun Partnership for the Birmingham Barons
Providing fans with an unforgettable experience is paramount for the Birmingham Barons. From sales and ticket takers to concessions and ballpark operations the entire Barons staff plays a vital role in making home games at Regions Field a can’t miss event for the community. And as preparation starts for opening day, hiring takes off. With nearly 700 seasonal employees hired each year, the Barons rely on Paycor to help automate manual HR processes like payroll, reporting and timekeeping.Check out this video to learn how Paycor has increased efficiency and streamlined HR operations for the Barons.Broker
How to Help Your Clients Prove Their Value to the C-Suite
HR professionals are sitting on a goldmine of data, but they’re constantly fighting an uphill battle when it comes to proving their value to the C-suite. For starters, they aren’t data scientists and often lack the support, resources and budget needed to make sense of the data, let alone measure its financial impact.In 2015, 20% of business leaders trusted HR to use data to anticipate and help fill talent needs. By 2018, that number dropped to only 11%. The problem is twofold: some HR teams (especially if you are a solo practitioner) still spend too much time on transactional HR functions that should be automated. That doesn’t leave a lot of time for much else. Secondly, HR often doesn’t have the tools they need to access or interpret...
Webinar: Meet Paycor Analytics - The Next Generation People Analytics Platform
It’s here! Paycor Analytics, the next generation people analytics platform that will transform the way you manage your workforce, is now available. Paycor Analytics provides user-friendly insights to help you answer the right questions about your workforce by transforming complex data into trends, predictions and powerful benchmarking so you can make business critical decisions every day.Give us 15 minutes of your time and we’ll show how Paycor Analytics will change the way you answer important questions about your workforce.HR
