A Lack of Access to Capital. Banks are just not getting it done for the SMB.
Limited Expertise in-house. Typically SMB owners and principals are strong entrepreneurs and have a terrific work ethic, but may be lacking in Accounting, Marketing, Sales, Finance, Legal, or Technology issues.
Lack of Access to High Caliber Accounting and Legal Resources. As the complexities of the business increase, as the size of the business increases and the stakes are higher, as the litigation risks in society increase, many SMBs are seriously “under-gunned”.
Lack of understanding and access to Operations and Financial Systems, and to Technology.
Lack of access to high quality HR Risk Limiting resources and services.
No active Advisory Board. Going it alone comes with a potentially significant cost. Successful battles are waged with many capable and reliable counselors.
Limited Exit Opportunities to realize value. (more on this one in another post soon)
Lack of experience with transactions…buying other businesses, selling your business, etc.