Canadian Business Owners Cite "Sluggish Demand" and "Failure to Attract Top Talent" as Threats to Growth in 2012

Published on Thursday, 09 February 2012 09:17 Written by TradersHuddle Staff

DENVER, Feb. 9, 2012 (GLOBE NEWSWIRE) -- According to a recent survey of Canadian small business owners, finding good employees is one of the biggest threats to small business. The Alternative Board® (TAB), an international organization headquartered in the U.S.A. that provides advisory boards and coaching services for business owners, CEOs and presidents worldwide, released today the results of a North American survey conducted in December 2011 by a research firm that partners with Fortune 500 companies.

According to the TAB 2011 Small Business Owners survey, 40 percent of Canadian small business owners reported sluggish demand and the failure to attract top talent as their top two biggest threats. In comparison, the U.S. small business owners feel more overwhelmed by government regulations and fewer borrowing options.

"Small business owners face many difficult decisions during these economic times and finding top talent is a big concern," stated Jason Zickerman, President and CEO of The Alternative Board. "Through TAB, we provide tools to help owners attract top employees and determine through a DISC personality assessment whether it's a good match. These HR tools are critical for the success of small businesses."

Other survey findings include:

• Over half of small business owners report that their business improved from 2010 to 2011.
• More than 70 percent of non-TAB members believe they would increase profits up to 10 percent if they joined an advisory board.
• 67 percent of TAB members trust their advisory board most to provide overall business advice.
• 92 percent of current TAB board members support the argument that they can learn from decisions in different industries, through their advisory board, in order to make better business decisions.
• Among those surveyed, 60 percent who reported an increase in profits during 2011 belonged to an alternative board of directors.

Survey results also show that when it comes to an advisory board, owners find honest feedback, actionable ideas, and a fresh perspective to be the most valuable assets.

TAB conducted this survey with hundreds of small-to-medium-sized business owners (including 50 percent of those who are TAB members and 50 percent of those who are not members) to seek insight into the outlook of 2012's small business predictions and trends.

10 percent of the businesses surveyed were based in Canada.

Katie Knoch
Scream Agency
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About The Alternative Board

The Alternative Board (TAB) is an exclusive, membership-based organization that helps business owners achieve profitability, productivity, and personal fulfillment through the use of peer advisory boards and private business coaching. Through a platform of knowledge and guidance, The Alternative Board delivers real world advice that provides a result driven advantage to help business owners stay focused on what matters most. Headquartered in Denver, CO, The Alternative Board has been helping business owners succeed for over 20 years. For more information visit www.TheAlternativeBoard.com and www.facebook.com/TheAlternativeBoard. 

SymAction Communications, a national research firm serving Fortune 500's and mid-size companies, as well as various nonprofits and trade associations, conducted the research.

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