Research has shown that 70% of small businesses that receive mentoring survive for five years or more, which is double the rate compared with non-mentored entrepreneurs.
Of those with a mentor 97% say they are valuable, 55% believe mentoring can help them succeed, 60% look for experience in a mentor above anything else, but 85% currently do not have a mentor.
93% of small and medium sized businesses acknowledge that mentoring can help them to succeed.
Only 25% of small and medium sized businesses currently make use of business mentors.
A recent survey by the UK’s Department for Business, Innovation and Skills found that 94% of SMEs using external support have seen benefits. These firms are more ambitious and have higher relative turnovers.
67% of businesses reported an increase in productivity due to mentoring.
55% of businesses felt that mentoring had a positive impact on their PROFITS.
Employees who received mentoring were promoted five times more often than those who didn’t have mentors. Source: mentorsme
84% of CEO’s in formal mentoring programs said mentors had helped them avoid costly mistakes and become proficient in their roles.
71% of Fortune 500 companies use a mentoring program and 75% of executives credit their mentors.
89% of those who have been mentored go on to mentor others.
Everyone has life skills and experience to share as a mentor. One word, one hour can be all that’s needed to effect a positive change in someone.
We all need help in this world. Mentoring gives a sense of purpose to both parties, it’s not only good for business but it’s also good for the soul!