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What You Need to Know About Building a Small Business Advisory Board (and Why You Need One)

May 3, 2023

Small business owners these days have a lot on their minds β€” and too much on their plates. Sky-high borrowing costs, corrosive inflation, a slowing economy and tighter credit conditions are keeping them on edge.

Along with your entrepreneurial cohort, you’re probably working overtime, redoubling efforts to drive revenue and shifting into overdrive mode. Here’s one more thing for your to-do list: Form an advisory board.

If you’re a builder, a restaurateur, an online retailer or run any other type of small business, you need an advisory board. Relationships with trusted advisers will help you weather a downturn or an economic shock β€” something that’s happened with more frequency over the past few years. Uncertainty, above all else, is the watchword for this year.

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