Does Your Business Have Growing Pains ? We Can Help
With over 34 years of hands on experience, Enterprise Development is the trusted specialist in Business Development. We specialize in commercial financing, business acquisitions, debt restructuring, business expansion, business start-up, franchises, business management, tax liability , are just some of the business services we specialize in.
Who We Are & What We Do....
Established in 1985, Enterprise Development Company is a Business Development, Business Administration, and Management firm specializing in the development and management assistance for small business. We assist with franchises, business expansion, commercial financing, debt restructuring, business acquisitions, crisis service, business planning, business management, credit issues, tax liability and other business administration matters.
Over time, we have earned a reputation for excellence and dedication to our clients in the field of Business Adminstration. Our unparalleled advice and success, backed by experience and expertise, sets us apart from all other business development and management companies.
Purchasing or starting a new business is exciting, but can be very involved.
We are here with every step you take and with the support you need.
Outstanding service is at the heart of everything we do. We offer commercial planning - financing assistance, accounting analysis, business acquisitions, business planning, business advice, support, accounting and bookkeeping services, payroll, tax service, and hands on management participation for every administrative process and structure within your company - from short-term measures to long-term projects, from small and medium-sized businesses to large corporations.
Grow And Expand Your Business !
Increase your inventory, add a building addition, purchase real estate, equipment, vehicles, expand your market, we are here to help you grow!
We can assist you with your business development, commercial planning -financing, working capital, credit lines, debt restructuring, tax liability, business management, credit issues, and more.
Enterprise can also assist your business with Bookkeeping, Accounting Service, Payroll, Tax Services, and more.
Big business has the resources to help them succeed, and so should you.
Small Business In America....Not So Small After All.
Effective 2016, there are an estimated 28 million small businesses in the Unitied States ! These small businesses employ about half of the private sector workforce in the United States.
Small businesses have the power to transform America. Every day, from street corner to street corner across the United States, small business owners apply their extraordinary potential to spark competition, drive innovation, build communities, and better the quality of life for citizens
Current statistics suggest that small businesses are major players in the U.S. economy.
Over 50% of the current working population in the United States works in a small business setting. ( Source )Forbes.
These individuals work for the 28 million small businesses that are currently in operation, 22 million of which are non-employer businesses. Employer-based businesses make up more than 75% of all business.
How many small businesses are in the United States?
As of 2016, there were 28.8 million small businesses, which accounted for 99.7% of all US businesses. Source: SBA Gov 2016
Pattern of Exceptional Growth
It appears that the growth of small businesses will continue to progress in 2017 as SMBs have generated more than 65% of the new jobs created in the U.S. since 1996.
This growth is occurring at an impressive rate as more than 540,000 new businesses are being started each month. This trend favors small business growth as more employee businesses shut down than start up each month. On the other hand, non-employer businesses have seen steady growth in recent years as 2011 saw the number of non-employer businesses grow by 2%.
Mobile Commerce is Exploding
This past holiday season exemplified this trend as the top 20 retailers reported an increase of more than 55% in the number of online sales conducted via mobile devices.
Sales statistics revealed that 69 percent of tablet users and 45 percent of smartphone users made mobile transactions.
Small Business Structure
The majority of small businesses surveyed are S-corporations (42%), followed by LLCs (23%). Source (NSBA)
While we can’t recommend specific business structures – as every situation is different – you may find it helpful to know that most small businesses are built as either S-corps or LLC. Partnerships, sole proprietorships and C-corps are all other possibilities.
Small Business Tax Rate
On average, sole proprietorships paid the lowest effective tax rate—just 15.1% in 2013, according to the SBA’s Office of Advocacy—while S-corporations paid double that (31.6%).Source (SBA.gov)
Tax Advantage For Small Business
Many business owners choose S-corps because their profits aren’t double-taxed. Evaluate your options carefully, though, as some SBA data suggests that sole proprietors may actually pay lower effective tax rates, once all factors are taken into account.
Small Business Lending
27% of businesses surveyed by the NSBA claimed that they weren’t able to receive the funding they needed. Source (Fundera)
Funding is a constant challenge for small business owners. Knowing that more than one quarter weren’t successful in scoring needed funds will help you develop a better game plan for securing startup capital resources.
In March 2016, big banks approved 23% of funding requests, institutional lenders (which include savings banks and life insurance companies) approved 62.8%, small banks approved 48.7%, alternative lenders approved 60.7%, and credit unions approved 42% of loan applications. Source (Biz2Credit)
If you need startup capital, knowing who’s approving funding requests can help you set a strategy for securing your lending resources. Based on the numbers above, for example, you may have better luck with institutional lenders, alternative lenders or small banks than you will big banks or credit unions. Professional lending assistance can also prove to be very beneficial.
Surprised by any of these statistics ? Will they change the way you plan for your business in 2018 ? Email or chat us with your thoughts. Enterprise Development can provide you with Commercial Lending Assistance.
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