By any measure, retailers are overwhelming small businesses. More than 95 percent of all retailers have only one store. Almost 90 percent have sales less than $2.5 million (USD), and more than 98 percent have fewer than 100 employees. To compete, small businesses need to be innovative, and understand both personalization and value, and how to execute best practices to build success.
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if you don't know how to do it, there are support mechanisms in your industry that will help you accomplish it, support that will take you through all the steps, no matter what level your company has evolved. Succession planning is an important topic for many owners. The vast majority of U.S. businesses are family-owned, yet statistics show that only a small percentage of family-run companies succeed into the second generation. An even smaller number survive into the third. The reason, according to many