SAN DIEGO, CA, September 21, 2013 /24-7PressRelease/
-- As a seasoned, trusted business development professional, Adam Harriss
, MBA, has proven a major influence in helping new enterprises secure foundation for growth. As Harriss has become a reliable resource for determining viable startup strategies, he recognizes that in today's economy many small business owners and entrepreneurs face a distinctive collection of pitfalls that may prevent growth--and success--from occurring. According to Harriss, one of the most considerable hazards facing small business owners today is that of financing.
Although the small business sector has gained much attention in the national economic spotlight, new statistics reveal that entrepreneurs are not having as much success as some may expect in receiving funding. Specifically, a recent article
from Fox Business reports, "While the economy seems to be getting back on track, new entrepreneurs aren't on such sure footing, according to one recent survey. According to small-business insurance provider Hiscox's latest DNA of an Entrepreneur report, 95 percent of respondents ages 30 to 39 say getting funding for a new business isn't easy--an increase of 33 points since 2011. Hiscox surveyed 500 business owners across the U.S. for the report."
Adam Harriss responds, "It is important to recognize that many small business owners have come into existence as a result of the recent recession. Having been let go by previous employers, many professionals have sought to establish a business on their own. However, without the right credit history and track record, entrepreneurs are not able to attain favorable, conventional loans without difficulty."
Although emerging alternative financing solutions--such as crowdfunding--have arisen in recent years, Adam Harriss reveals that either entrepreneurs are unaware of the sources or don't know how to market to the crowd of funders. The Fox Business report reveals just how ineffective these alternative methods may actually be and states, "...despite the tight lending conditions, small-business owners say they aren't looking for alternatives to traditional loans and funding options. While sites like Kickstarter, Indiegogo and Crowdfunder have made crowdfunding a household term, the majority of business owners surveyed say they haven't considered this route for funding. Ninety-two percent of men and 94 percent of women say that for them, alternative funding options are not on the table."
"The success stories of crowdfunding and other alternative lending options have created many false expectations in small business growth. However, as this survey reveals, most small businesses are not in spaces that can benefit from these convenient, easy funding options. As such, it is critical to understand that while alternative lending options can sometimes prove viable, entrepreneurs must approach any financing plan with a strong strategy that is customized to their specific growth plans," Adam Harriss concludes.
Carrying an MBA from Columbia Business School, along with 15 years of business experience, Adam Harriss is a great asset for those seeking advice on new business creation and marketing. In fact, Harriss has spent much of his career creating new businesses and is called on as an expert to comment on building new companies. With experience growing businesses in both SMB and enterprise markets, he can provide advice centered on lean start-up principles and business model selection. Using his comprehensive knowledge, Harriss has founded Pandorium and PerkCounter, allowing him to gain firsthand experience of what it takes to put new businesses into action.