When bigger is better

Small business is big business, accounting for nearly 98% of all the nation’s commercial enterprises. Among them, sole traders have the strength of numbers, comprising a whopping 62% of small businesses. That’s close to 800,000 businesses owned and operated by just one person.

Being a one-man-band provides absolute control plus plenty of agility. The downside can be capacity constraints. There’s only so much one person can do in a day, and suitably skilled contractors may not always be available when you need them (see breakout, “Talent on hand when it’s needed”).

Hiring employees can give your business the resources