BIRMINGHAM, Ala. (WBMA) — The week of April 29th to May 3rd is Birmingham Small Business Week. Events will be held throughout his week to support small business owners and connect them with the resources they need.
According to the Birmingham Business Alliance (BBA), there is a growing presence of small businesses across the region. The group says there are approximately 30,000 active small businesses in the Birmingham-Hoover region, many of which have found more stability heading into his 2024.
Victor Brown, BBA's small business director, said that in 2020 and 2021 a number of businesses were being set up and starting to gain a foothold there. Many did not have the resources or information to sustain their businesses. Looking ahead to 2023, Brown says, “2023 was a little tough. In terms of sustainability in the companies we work for, many companies saw a decline in employment.”
Two of the main difficulties identified by the BBA are workforce availability and financing. Brown said management is currently making adjustments to maintain sustainability.
Brown said finding long-term employees can still be a challenge for small businesses. “Employees with 5 to 7 years of experience have been the right type of employees for companies to retain and grow. They may join and work for a few years, and then they come back to work for a larger organization and get a significant raise,'' Brown said.
Some, like Selena Rogers Dickerson, owner of SARCOR LLC, have begun offering virtual work options to employees who need them.
“New employees may want to work more remotely. We need to make sure they are trained and equipped with the tools they need. We leverage technology and what we already have. and we're trying to incorporate them into the way we create new models of how things are done,” Dickerson said.
Some companies are prioritizing securing capital funding for their operations. It also includes long-term investments and loans.
BBA has many resources available for small businesses looking to maintain or grow.
Business Advisory Services The Business Advisory Services program targets technology adoption, productivity, innovation, and job creation for small and medium-sized businesses with 6 to 99 employees and $500,000 to $50 million in revenue. Strengthen. There are three areas of business advisory services:
- Supplier Scale: Supplier Scale is a cohort consisting of a curriculum that includes interactive class sessions, peer mentoring groups, and opportunities to gain experience from local experts in the fields of finance, marketing, and procurement. Participants complete the program with a three-year strategic growth plan and the confidence and ability to translate those plans into actions that lead to growth.
- TeamUP: Through two groups, TeamUP works with 20 local businesses to improve organizational excellence by focusing on key areas such as leadership development, talent management, culture building, hiring processes, policy improvement, and core value development. We provide comprehensive support to enhance your sexuality. Our services include interactive roundtables and individual consultations.
- Small Business Team: The Small Business Team provides general advisory services to 25+ participating companies, with a focus on “non-cohort” companies and/or companies in growth mode for program graduates.