Unemployment in America has been at historic lows recently. As such, the optimism driving small businesses seems to be at an all-time high. As those numbers soar, so also is the demand fo small business loans, with entrepreneurs around the nation reaping the benefits. All this shakes out into a serious quandary about what small-business owners think is most important to invest in. Consider this: Investing in the right employees could be one of the most important choices you make about the longevity of your company. If you want things to continue trending upward, then you should be looking into investing your capital in more employees — even if that means taking on a little bit of manageable debt in the short-term.
Finding the right employees in a competitive market means being able to offer the income it’s going to take to be able to retain them. If you want somebody to stay at your company and commit themselves to it, then you’d best have the means to keep them happy, with a few perks tossed in for good measure. This is where small businesses get tripped up in comparion to their corporate adversaries. If, after a period of educated deliberation with finance professionals, you decide that hiring more employees would be the right move to scale your business to the next level, then it may be worth pursuing a small loan — if that’s what it takes to raise the capital.
Expansion takes manpower, and it oftentimes takes a risk or two. There is no better way to invest your money than right back into your company through qualified candidates who are able to take you and your business to the next level. If you don’t feel you need employees, then you need to look into employee development. Training your staff to handle more tasks, with pay raises along the way, can be a useful tool to reducing workloads and bringing your office space closer to a more harmonious — and productive — existence.
Article by
Wayne Goshkarian,
Senior Advisor