Mosongo Moukwa’s findings reshape perceptions about the financial motivations of small businesses.
Chapel Hill, North Carolina – November 12, 2024 – Bestselling author and business advisor Mosongo Moukwa has revealed the results of a new study showing that the financial motivation of small business owner-managers lies in business survival and stability rather than growth. The findings, conducted over the past two years among 60 small business owner-managers in the U.S., offer a timely perspective on small business resilience, especially relevant amid current economic uncertainties. These small businesses had a minimum of 5 employees, with the largest employing 15.
“This research challenges traditional economic assumptions that small business owners are driven solely by growth and profit maximization.” Moukwa explains. “Instead, they prioritize financial sustainability and control over expansion. Understanding these motivations allows us to support small businesses more effectively, especially in times of economic uncertainty.”
This new perspective comes at a critical time for small businesses. According to the Bureau of Labor Statistics, about 20% of American small businesses fail within the first year, and nearly half fail by the fifth year. Additionally, Fit Small Business’ 2024 report estimates that approximately 550,000 small businesses in the U.S. close each year, with inflation and labor shortages among the top pressures.
The findings suggest that policymakers should reconsider growth-focused assumptions and create financial strategies that better address the needs of small businesses. Moukwa’s findings highlight the need for alternative strategies that address the needs of small businesses, as this sector is vital to the American economy.
Moukwa’s findings point to a greater need for resources, policies and financial advice that are tailored to stability, particularly as the small business sector seeks strategies to manage economic instability without focusing solely on growth. This flexible strategy meets the core beliefs of small business owners and enables stronger, longer-lasting success.
About Mosongo Moukwa
Mosongo Moukwa is a best-selling author and leading business coach who specializes in helping small business owners unlock additional six-figure incomes without increasing their advertising spend. Through one-on-one coaching, Moukwa empowers entrepreneurs to focus on sustainability and financial resilience, enabling them to achieve lasting success, free up time, and prioritize time with loved ones, leading to greater energy. and renewed purpose.
Visit https://mosongomoukwa.coach to know more.
For inquiries contact: info@mosongomoukwa.coach
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Company Name: Mosongo Moukwa
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City: chapel hill
State: NORTH CAROLINA
Country: USA
Website:https://mosongomoukwa.coach