Business

The Small Business Owner Then & Now

I was speaking to one of my friends who also owns a small company and we began talking about how life as a business owner has changed over the decades. I began my first rather feeble entry into the world of running my own business in 1976. No, I wasn't any good at it, as I was still in high school. But hey, you have to start somewhere.

Consider: the Top Ten Small business challenges in 1976 versus 2016.

1976:
  1. The national economy.
  2. Your competitors.
  3. Market perception of your product.
  4. Word-of-mouth publicity.
  5. Trade unions.
  6. Taxes, fees, and permits.
  7. Government regulation.
  8. The world economy.
  9. Supply chain issues.
  10. Employee absenteeism.

2016:
  1. Predatory activists.
  2. Government regulation.
  3. Taxes, fees, and permits.
  4. The world economy.
  5. The national economy.
  6. Hostility and adverse publicity generated on social media.
  7. Market perception of your product.
  8. Your competitors.
  9. Supply chain issues.
  10. Trade unions.

It's a very different world today.