Most Small Business Owners Remain Optimistic Going Into 2021
A new survey by Capital One Business reveals small business owners are cautiously optimistic. And many are looking for a return to more favorable business conditions come 2021.
According to the survey conducted from November to December 2020, about 53% of small business owners report their business financial position is the same or better than the pre-COVID-19 period. A further 67% of the owners are confident their business will return to pre-pandemic operations and revenues. So, there is growing optimism over the state of the economy and possible resilience among small businesses. Read more.
The Best of 2020: Entrepreneur Staff Picks
The story of 2020 itself has been remarkable. Our task during this pandemic year was to find the smaller stories that exemplified the trials, challenges and triumphs forged from historically damning circumstances — while still keeping an eye on the future and forward progress of innovative entrepreneurialism.
Along with our esteemed network of contributors and collaborators, the collective staff of Entrepreneur magazine and Entrepreneur.com set about that task as determinedly as we could, and we hope the results have motivated you half as much as they’ve inspired us.
To that end, and in tribute to all the small-business owners who’ve navigated this often-heartbreaking year, here is a shortlist of both site exclusives and print selections — hand-picked by members of our editorial team — that we were proud to shepherd and share. And we look forward to continuing to tell your stories in 2021. Read more.
6 New Year’s Resolutions for Entrepreneurs and Small Businesses at the End of a Very Tough Year
If you’re up for a task—a really easy one—I’d like you to commit to making 2021 better than 2020.
Easy peasy, right?
This year has certainly knocked us all on our duffs, and there still is no way to know how much longer we’re in for economic strain, stay-at-home orders, and irregular sales patterns. But I am confident that we can make New Year’s resolutions to ensure we aren’t taken by surprise by anything in 2021—save aliens taking over the planet (at this point, nothing is outside the realm of possibility).
Key Skills Of A 21st-Century Entrepreneur And Why They’re Important
Being a 21st-century entrepreneur is a demanding and exciting challenge. This is because the world is growing and changing so rapidly that it requires innovative thinking skills of an entrepreneur to stay ahead of their competitors. The 21st-century entrepreneur has to be highly organized and flexible. This means that a 21st-century entrepreneur is constantly thinking and planning. One way to do this is by creating and maintaining effective business plans. Furthermore, a good entrepreneur should also have excellent communication skills, leadership capability and the ability to lead others effectively. Read more.
How female entrepreneurs can thrive in good and bad times
Before the pandemic hit this spring, women were launching more than 1,200 new businesses every day — roughly twice the rate of men. In fact, in 2019, 21% of employer businesses had majority female ownership, according to a report by the Small Business Administration (SBA).
What a difference a year makes.
Women-owned businesses have been disproportionately impacted by the pandemic. One study by the National Bureau of Economic Research found that the number of female business owners dropped from 5.4 million to 4.0 million in just two short months, a 25% decline.
The loss of one fourth of female business owners is unprecedented and, as the study points out, may have longer-term ramifications for job losses and economic inequality. Read more.
Dear Entrepreneur, You’ve Been Brainwashed as an Employee.
My manager wasn’t happy. She pulled me aside. “You’re always the last one to arrive and the first one to leave. Why is that?”
I was working as a business consultant for a big fancy company you’ve probably heard of. Three letters. I was on the road most of the time, sleeping in hotels, eating every meal with colleagues. I’d go to the hotel gym to burn off some angst, and they’d be there too. It was driving me crazy.
So when I was back in the home office, I learned how to optimise all my processes so I could maximise my time for myself. Read more.
A Message from Acceler8Success Founder, Paul Segreto
This year was definitely not without challenges and mistakes. But in learning from the same and working towards making necessary corrections, successes were also realized. Although some gaps still need to be closed the near future looks bright and I’m excited about the year ahead. Such is the life of an entrepreneur – successes, challenges, mistakes, realizations, learning experiences, course corrections and, of course new ideas. It’s a whirlwind, stressful at times… exhilarating as well. So, here’s to putting 2020 behind and looking forward to the New Year. Yes, there’s reason the windshield is much larger than the rear view mirror. Now, it’s time for eyes on the road ahead, accelerating whenever possible, slowing down for curves and with a few stops in the rest areas to recharge. Happy New Year, my friends.