Despite relatively strong growth in the number of women-owned businesses in the state, Rhode Island ranks near the bottom of the nation in the overall strength of that segment of the state’s economy.
By Brendan L. McKenna
Family-owned businesses are a fixture of American enterprise. According to the U.S. Census Bureau, nearly 70 percent of all businesses in the U.S. are family businesses of one kind or another. And while most of them are small, many big companies – even in the Fortune 500 – are family controlled.
Employee theft is one of the most serious problems facing small-business owners in the U.S. According to the National Federation of Independent Business, an employee is 15 times more likely than a nonemployee to steal from an employer, and employees account for an estimated 44 percent of theft losses at stores. The U.S. Department of Commerce reports that nearly one-third of business failures are related to employee theft or fraud.
Four members of the Razee family found their way – one at a time – to jobs that have turned into rewarding careers at FM Global, one of the world’s largest industrial and commercial property insurers.
Turning around a failing institution like the former Framingham Savings Bank in Massachusetts is no small feat, but it’s one that led to Irene A. Schmitt’s latest role as an agent of change in a firm she founded and owns.
A highly capable young woman I hired not long ago recently came to me with a minor dilemma. A social media account she was taking over was linked to a phone number we didn’t recognize – possibly an ex-employee. She was wondering how to contact the person via text.
Starting or expanding a business? Looking for small-business loans, venture capital, angel investors or other financial backing? Then you need a business plan, plain and simple. Every successful startup begins with a sound business plan.
Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.