Together  By Design

Business Diversity Newsletter

Tammy Martin

Business Diversity Program Director,
Burns & McDonnell

in

Empowering Small Businesses Through Mentorship

With half of small and diverse businesses failing after five years, there are several trends that impact these companies now more than ever.

  1. Field of dreams fallacy: neglecting proper product and market research.
  2. Growing use of artificial intelligence and costly technology.
  3. Lack of resources and business acumen resulting in inability to compete.
  4. Market unpredictability that causes expenses to rise and profit margins to shrink.
  5. Difficulty in hiring and retaining top talent.

Our Accelerate mentorship program aids in mitigating the effect of these factors and others for small businesses.

With Burns & McDonnell built more than 125 years ago by two driven entrepreneurs, we're grateful to be able to help other small businesses succeed. To date, leaders from more than eighty companies have participated in our Accelerate mentorship program. The latest edition of Together By Design highlights two of these companies: Corporate Environmental Risk Management (CERM) and MJC Strategic Consulting.

Read about these businesses and their fearless owners and then review our other articles that highlight the value of cultivating an inclusive and equitable business landscape. As you peruse the articles, I hope you will be inspired in new ways to not only fuel your company’s growth but help with the growth of your smaller business partners, in an effort to build improved economic stability throughout the communities you serve.

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