When you look at it that way, it’s not hard to understand why many small businesses regard digital policies -if they think about them at all -as something they’ll get to “someday”. The owners or leaders of small businesses are typically responsible for three or more of the following functions: operations, finance, sales, marketing, HR, customer service, product development, or IT.

Employees of small businesses wear many hats, starting at the top.The vast majority of businesses that fail, do so because of cash flow problems.Only 40% of small businesses are profitable.77% of small businesses rely on the owner’s personal savings for their original funding.The truth, however, is that small businesses power the economy despite lacking the resources of larger organizations: Read More: Facebook’s Libra Announcement Shows It Has No Fear of Further Scrutiny over Data Privacy, Says GlobalData When you look at the magnitude of their economic impact, it would be easy to assume that small businesses know exactly what they’re doing and would be the obvious place to look for advice and best practices. Small businesses are responsible for two-thirds of all new jobs created each year.

More than half of all Americans own or work for a small business.

Businesses with fewer than 5 employees account for 62% of all businesses in the U.S.

It’s hard to overestimate the role of small businesses plays in the American economy:

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