• Nearly 80 percent recognize the importance of technology to the growth
of their business, but are concerned
about awareness and affordability of
• Over 40 percent feel ill-prepared
about cybersecurity and intellectual
property exposure, and nearly 25
percent have been victim to cyber-at-tacks.
About half of all new establishments
survive five years or more, and about
one-third survive 10 years or more, with
the probability of survival increasing
with a firm’s age. These rates have
changed little over time, according to
the U.S. Bureau of Labor Statistics.
Among ways to address these challeng-
es and ensure further growth include:
• Educating small businesses on a va-
riety of lending sources, models, and
financing products available.
• Forming public-private partnerships, especially with community
colleges, to address employee and
business owner skills and provide a
source of qualified labor.
• Offering healthcare as a competitive
advantage and retention tool.
• Expanding entrepreneurial training programs’ emphasis from the
development of technology-based
businesses to the development of
businesses through technology.
• Providing better information about
ecosystem resources available to
support innovation activities.
small business economy on the industrial side.”
Most of these businesses are in the
10,000- to 25,000-square-foot range,
which makes up approximately one
quarter of his firm’s regional business.
Royce recently completed two tenant
transactions in Beltsville, Maryland:
12,000 square feet for a waterproofing
company based in Boston that expanded
to Maryland for business opportunity,
and 20,000 square feet for a heating and
air conditioner supplier that has locations in Annapolis and Pennsylvania but
wanted to be closer to Washington, D.C.
Will Threats Temper
Growing small businesses is not with-
out challenges. In June, Babson College
released its State of Small Business in
America 2016 Report, which highlighted
some of the trials its surveyed small
businesses face. Among them:
• Respondents, who rely on banks
as their primary source of funding
receive less than half of the amounts
• Nearly 60 percent identified some
level of difficulty understanding and
managing government regulations
and laws, spending four hours per
week dealing with them.
• Over 70 percent find it difficult to
hire qualified employees, because
potential candidates lack the requisite
But while improved and expanded
training and education is a key path
to enabling the success of small businesses, it is not sufficient, the Babson
“Changes in policy and practice are
also needed to enhance the business
environment, reflecting the capacities
of the vast majority of companies in
the country: the small ones. Small
businesses—enabled by education and
support systems—have the power to
transform America. ”
"Small businesses—enabled by education
and support systems—have the power to
SIOR, LEED AP
Winter 2016 | 15