National Small Business Week: Must-read stories of 2023

April 30 – May 6 is National Small Business Week 2023! This week we celebrate the impact small businesses have on their employees, families and communities. And we focus on your hard work and determination as you endeavor to make the best decisions for your business. Below, we’ve curated some of our top actionable insights and member stories to help you make informed decisions for your growing business all year long.

This year, Vistage joins the U.S. Chamber of Commerce in calling on large companies to commit to paying their small business suppliers in a more timely fashion. The goal is to help America’s small businesses better manage capital, maintain a healthier cash flow, and continue to support their families and communities.

Learn more about the Prompt Pay Pledge to Support Small Business Suppliers and what you can do to spread the word!

Research & Insights

Small business confidence holds amid growing recession concerns: In our April 2023 WSJ/Vistage Small Business report, CEO confidence remains flat as pessimism about the national economy eased despite rising concerns of a recession. 

Why paying suppliers on time matters: Overdue invoices and late payments can cripple a business. Learn how the Prompt Pay Pledge can help small business suppliers get paid quicker.   

Why the strategy that got you here won’t get you there: Small business life stages evolve as the needs of the business change. So too, must the strategy for future growth for sustained success.

Run it like a turnaround (before you have to), Part 1: Generating profits: Healthy small businesses can benefit from the discipline that turnaround professionals bring to troubled businesses. Rallying around your core mission and manifesting profitable growth strengthens small businesses—even those that are already solid.

Pause, think and focus to win: Unpredictability is a defining characteristic of running a small business today, and it’s only expected to get worse. Slowing down – pausing, thinking and focusing – can actually accelerate small business success.

The top 3 priorities for CEOs in 2023: Everything has changed, but nothing’s different since the pandemic aftershocks have receded. Uncover insights that can help you minimize talent shortages in a tight labor market, improve productivity with technology and achieve growth from new opportunities.

First-Time CEO Survival Guide: Becoming a CEO is just the tip of the iceberg when it comes to leading a small business. While your experience can serve as a valuable asset, there’s no way to fully anticipate the demands of the role. First-time CEOs can find themselves feeling overwhelmed, hesitant, or isolated. This guide for new CEOs offers advice for tackling the root causes of these challenges and offers direction for creating a successful path forward.

Growth Stage Entrepreneur Resource Center: Explore a list of curated resources that can guide you through obstacles that may arise in your business journey, ranging from hiring and financing to leadership abilities and mentorship.

Member stories to inspire

A Life of Climb Episode 9 — woom CEO on the balancing act of scaling a business: Read how one small business owner reimagined a 200-year-old product by creating magical moments for customers. The result was exponential growth, allowing the company to double its workforce and far exceed its annual sales records.

How bootstrapping your company can lead to big business: If your business needs funds to achieve its next level of growth, bootstrapping your company can be a viable option to raise external funds. Here’s what you need to know about the pros and cons of bootstrapping a business.

Related Resources

Vistage Small Business Program

CEO confidence stalls ahead of economic slowdown [Q1 2023 CEO Confidence Index]

Trends for 2023 and beyond [Webinar on-demand]

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