4 minute read
Weight of the World
Written by: Top of Virginia Regional Chamber
Small businesses are tasked with a huge responsibility. As the engine of the economy, they drive our region’s growth. Two-thirds of newly hired employees work in a small business and live within an average twenty-three-minute radius of their job. “The multiplier effect created by shopping locally generates lasting impact on the prosperity of local organizations and residents. Local spending ensures that your sales taxes are reinvested in your community, which may lead to better schools, city services, infrastructure, and more.” Christine Kriz, Director of the Lord Fairfax Small Business Development Center, recently said in an article by Matt Welch in the Winchester Star.
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We know the impact that small businesses have; now, how can we immediately use our impact as a community on their business? among the rare sectors that continue to experience significant growth in an unpredictable job market,” said Jill Quinn. For example, electricians and carpenters jumped by 10.4 percent and 8 percent, respectively, according to the Center for Employment Training.
One area small businesses can learn from a industry giants is the data analytics generated by those more prominent corporations. Smaller companies can use the data to make data-driven decisions for their business, which improves profitability and outcomes. This helps owners decide what products and services provide the most value at the best price point. Marketers can construct campaigns that focus on attentive target audiences. New staff members can be better selected through hiring processes.
Employment may be the most troubling barrier for small businesses currently. It costs quite a bit to onboard a new employee under traditional circumstances while the scope of expectations has changed drastically. Marketers have to increase budgets to attract incoming talent in a growing sea of needs. Hiring managers face new expectations from potential new staff from competing for available jobs and requests for increased flexibility. Often, we see one single person wear all these hats. So how can you help? Small businesses need employees. Desperately! If you know someone looking for work or are thinking about picking up some extra hours, point them in the direction of your favorite shop, restaurant, or trade. Word of mouth is inexpensive for owners and provides powerful referrals. Job Postings available at regionalchamber.biz
The National Federation of Independent Businesses (NFIB) reports that more than 40 percent of jobs are not being filled as 56 percent of American workers are working from home, according to a Gallup poll. Businesses have had to refine their hiring approach as workers look for remote options, higher wages, and flexible working hours. We have this in our own region. Stores have shifted hours. Staffing is often a skeleton crew. Wages have increased. It can be difficult for a local service-based company to compete with salaries offered at an industry giant, even one from a different industry.
Jerry Hickman of Shared Knowledge Technical Solutions celebrates his new location at 1521 Martinsburg Pike with a ribbon cutting on October 27, 2021.
Congratulations Shared Knowledge Technical Solutions!
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1. Nick Sabo, Executive Director of the Winchester Regional Airport reveals exciting news on the progress of expansion plans and unveils projections for what renovations will look like at Business After Hours in October.
2. A sign of the times as David Richmond of Heart of the Home gives an elbow bump to say hello to Rachel Rivera of the Winchester Rescue Mission.
3. Hugh Jean of Apple Federal Credit Union listens to Rebecca Taylor of Aikens Group Hotels.
4. Bill Pifer, Vice-Chair of the Winchester Regional Airport Board, speaks to members before Nick Sabo takes the stage.
5. Nick Sabo greets Wayne McEachern of Get Well Now LLC and Jeff Hinson of Rappahannock Electric Cooperative as they enter the terminal and grab a bite to eat from caterer, Honey Baked Hams.
6. Carly Walker, Director of Development of STEM Flights, is recognized for her work as Nadine Pottinga, Chief Executive Officer at United Way of the Northern Shenandoah Valley, listens on.
7. Jasmine Frye, Coordinator, Oncology Outreach Services of Valley Health System and Winchester Medical Center, pauses for a quick picture with Lauren of Trex.