We have chosen to recognize them for a number of reasons:
1. They are significant job creators for our community
2. Many have established national and global markets that bring outside dollars into our community
3. Others want to learn from their success
The articles and video interviews in Small Business Insight follow our approach of “small business owners talking to small business owners.” We think that offers a relevant and different perspective than interviews conducted by professional journalists.
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* Second-stage companies are those that have grown past the start-up stage but have not yet grown to maturity. They have enough employees to exceed the comfortable control span of one owner/CEO and benefit from adding professional managers, but they may not have a full-scale professional management team.
A business typically begins to enter its second stage when it approaches $1 million in total receipts. The transition process may continue until it hits $100 million in receipts, although for most companies $50 million represents the upper limit of second stage. By $100 million, a firm will have to be professionally managed in order to continue to thrive and grow and be in its third stage of development. Employee numbers and revenue ranges vary by industry, but the population of firms with 10 to 100 employees and/or $750,000 to $50 million in receipts includes the vast majority of second-stage companies.
–Edward Lowe Foundation Read More…