The Making It! Institute 
For The Advancement of Business 
Making It!

Statement Of Need

The failure rate for new and young small businesses is unnecessarily high. Without a healthy emerging business community, America cannot thrive. A recent report from the Small Business Administration (SBA) reveals the failure versus success rate of new small business establishments within the United States.


-         33% fail within the first two years

-         56% fail within the first four years

-         70% fail within the first ten years


There is a growing need for education, guidance and support. Specifically, new entrepreneurs reported a lack of business expertise in areas such as finance, hiring well, managing employees, and strategic thinking. The Making It! Institute is here to provide education and guidance to emerging and existing small business owners. By offering programs, events, and support, our goal is to increase the success rate of small businesses, supplying them with the tools to grow and prosper in today’s economic climate. From our 20 year history of working with small business owners, we strongly feel that there is also a need for help with their soft skills. Leadership, sales, managing rapid change, developing a personal support structure and flexible goal setting are necessary to help these businesses survive and grow.  


In the US Census Bureaus’ most recent Survey of Business Owners (2007), the findings list only 15% of minorities owning businesses, whereas this demographic accounts for over 33% of our US population. Veterans ownership is at 12%. The Making It! Institute aims to help reduce our country’s serious business ownership divide by targeting its programs, events and outreach toward minorities, women and underserved communities.


Additionally, there is now a growing need to earn money over a longer lifespan, so baby boomers and others over age 50 are increasingly starting businesses. A recent AARP study on self employment by the RAND Corporation found that about one in three self-employed workers age 51 to 60 made the transition to self-employment at or after age 50. The Kaufmann Foundation which studies entrepreneurial activity in the U.S. says that Americans in the 55-64 age groups start small businesses at a rate that is greater than all other age groups. The Making It! Institute is developing programs inclusive of this growing demographic.