Small businesses are the backbone of the American economy. They account for 99.9% of all firms in the country and employ almost half of the private workforce. Still, despite their critical role, the odds are usually stacked against them. After all, around 20% of small businesses fail within their first year, and nearly 50% don't make it past the five-year mark. The reasons are varied, but the pattern is unmistakable.
Enterprise risk is a universal challenge. It's not uncommon for companies to encounter financial vulnerabilities that can unravel hard-earned progress. The question "What do businesses do to manage the risks that threaten their growth and longevity?" then emerges. Upon realizing that managing success is as complex as achieving it, Alfred Longtin, founder and CEO of Longtin Family Companies, made it his mission to support businesses that have worked tirelessly to reach a place of stability and continuous growth.
