Business Aviation & The Boardroom - Small/Medium Business Predominance
Category: Business Aviation and the Boardroom
Author: Jack Olcott
Small/Medium Business Predominance
In his book The Coming Jobs War, author Jim Clayton emphasizes that the economy of America is “really run and dominated by small and medium-sized businesses,” Jack Olcott outlines.
If the approximately 6,000,000 enterprises in the USA, those with more than 500 employees account for about a single percent. It is within the 99 percent of companies, Clayton argues, that new ideas will germinate and jobs will be created.
It is thus reasonable to expect that small to medium-sized companies are the most prolific in creating new jobs. Typically, firms with less than 500 employees possess the environment where men and women with vision, confidence and persistence can invent ways to attract new customers, develop good jobs and grow the nation’s Gross Domestic Product. Small to medium-sized businesses are where entrepreneurs flourish.
Furthermore, creative people with exciting ideas by necessity start small. Case studies taught in business school contain many examples of the visionary leader who motivates a few true believers. Those few, influenced by the leader, communicate the benefits of the new product or service to others, thereby creating new customers. The message spreads. The innovated product creates its own demand. And from such creativity comes new jobs.
Business aircraft are tools that enable the visionaries and entrepreneurs to reach new markets, find new customers, and start new businesses in areas where none existed previously. Airlines require an existing demand for passenger traffic between city pairs before service can be established. Business Aviation paves the way for such growth, thereby bringing new jobs and the ebb and flow of commerce to rural areas.
It is significant that nearly 60 percent of National Business Aviation Association (NBAA) Members, the world’s largest group of companies using business aircraft, employ 500 or fewer employees. Business Aviation provides access to opportunity. For creating good jobs throughout America and growing the nation’s GDP, it should be encouraged.
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