Saddle up for Augusta Futurity.
JAN. 26—FEB. 22, 2018 • THE CSRA’S MONTHLY BUSINESS MAGAZINE
Pages 36-37
BUSINESS OWNERS THRIVE IN PEER GROUPS BY GARY KAUFFMAN
in a renaissance period.” The population has grown by 7.5 percent since 2010, but could grow by another 20 percent by 2035. The region’s per capita income has also increased during that time. “That means we’re creating good jobs,” he said. The driving factor, Bennett said, has been government spending, primarily at Fort Gordon. “Without the growth at Fort Gordon, I’m not sure we’d be at the same
Fifty years ago, the Beatles sang that they could get by with a little help from their friends. It turns out that peer involvement is still a great strategy in the business world. Local retired businessman Jeff Annis is forming a Vistage Small Business group to connect small business owners with peers in the business world. The goal is that collectively they can help each other be more successful in their individual businesses. “The reason that Vistage peer groups are necessary is because most businesses are not successful,” he said. “At worst, a large percentage of businesses fail over five or 10 years and leave the poor, discouraged owner broke and looking for a job.” The entrepreneurial peak in the United States occurred in 1989. Since then, more businesses have been sold, merged or closed each year than have been created. “Even in the successful companies, those people are working hard, working long hours, with no succession plan or exit strategy,” Annis said. “They’ll work until they become disabled or die. “It’s a very strenuous life without much track record of success.” Annis believes it doesn’t have to be that way, and that’s where peer support can help. Statistics show that business owners in a peer group grow their businesses 2.2 times faster than those who go it alone. They also weather the bad times better with peer support. “The secret sauce of the peer groups is that you have 12 to 16 people around a table you can bounce ideas off of,” Annis said. “If you have a
See GROWTH on Page 2
See PEERS on Page 2
Cyber-related technology growth, including the Georgia Cyber Innovation and Training Center under construction on Reynolds Street in downtown Augusta, is one reason for economic optimism for the area in 2018. Photo by Gary Kauffman.
BRIGHT ECONOMIC FUTURE OPTIMISM SEEN FOR GROWTH LOCALLY, ACROSS GEORGIA BY GARY KAUFFMAN
Georgia’s economy will continue to grow at a faster rate than the United States as a whole, and the greater Augusta area should be at the forefront of that growth. “The greater Augusta area is poised for growth that we haven’t seen in a generation – or possibly ever,” Robbie Bennett told the audience at the 35th annual Georgia Economic Outlook meeting on Jan. 11. Bennett, executive director of the Columbia County Economic Development Authority, spoke after Jeff
Humphreys, director of the University of Georgia’s Selig Center for Economic Growth, had outlined why he believes Georgia will continue to outpace the rest of the country in economic growth. The annual economic outlook meeting is sponsored by the Terry College of Business at UGA. Bennett based his optimism on the continued growth of what had taken place in 2017 and saw Augusta named the Mid-Market City of the Year. “The growth we saw in 2017 will pale in comparison to the growth and opportunities in 2018,” he said. “We’re