Infrastructure Would Spur Small Business Growth
Our Infrastructure is in horrible shape
Therefore, it’s not a surprise. The “latest report card published by the American Society of Civil Engineers gave our infrastructure a D+ rating.”
Top 3 Drivers of Small Business Growth are the Most in-need of Infrastructure Investment
While the antics in Washington may make for good TV, they distract us from more pressing issues.
Small businesses employee nearly 1/2 of the US workforce. Poor infrastructure is its growth. As a result, it also hinders job growth and economic growth. Nearly everyone can agree both job and economic growth are good things. So, why can’t we support a few key infrastructure investments have the best shot at spurring small business growth?
Top 3 Infrastructure Invests that Small Business Owners Say Will Spur Growth.
Most business owners say that investing in 3 key infrastructure projects will spur their small businesses. High-speed internet (64%), local roads and bridges (57%), and cell networks (55%) ranked in the top 3.
Top 3 Infrastructure gaps highlighted by Small Business Owners
Want to guess which infrastructure projects are in the worst shape? You got it. The top 3 which spur small business growth. More the 6 out of every 10 business rate road quality average to poor. In contrast, 57% of small business owners say they very important to their success. Sticks out like a sore thumb, doesn’t it?
The problems are similar for high-speed internet and cell service, but just not as severe.
Investing in technology and basic transportation infrastructure would do much to spur small business growth.
For instance, The Chamber Technology Engagement Center (CTEC) and Amazon studied the problem.
“Small businesses in rural America could experience more than 20% growth with better access to online tools and technology. ”CTEC & Amazon
Furthermore, National Electrical Contractors Association reported that for
“…every $1 billion invested in infrastructure creates 28,500 direct and indirect jobs in our industry.”NECA
Thus, isn’t it time to put aside the partisan squabbling on policing bedrooms and immigration? Instead, shouldn’t we focus on what can really help spur small business growth in America?
The good news is that not all parts of the country are in the same state. There are states where infrastructure spending is a priority. Most are in the large urban centers, for instance. Therefore, those small businesses should start to plan on how to capitalize on these infrastructure investments. Reviewing your business model is a great place to start.
Knowing how it can impact you, enables you to make smart choices about how to spur your business growth. If you need help in understanding how to spur your small business growth, ProStrategix can help.