Over 60% of small businesses fail due to a lack of planning and execution of a business plan. When businesses are so small it is rare to have an HR manager, because of that training and follow-up is non-existent. Who would be accountable and how could management implement a training routine to make it beneficial and cost effective?

If you’re only really asking about training, then it would depend on the size of the business. If there’s only about 1 – 10 people, then it would usually be the duty of the owner to train new staff, as he or she would be the person with the most interest in ensuring that everyone knows what they are doing. If you go into 10 – 30 or so staff, you’d probably have an operational or production manager who should take care of training.

Most businesses don’t fail because of inadequate training though. As you pointed out, it’s more about lack of planning. I ran my own Small Businesses for a few years, and I made sure to only hire people that didn’t need any training!

Is your concern that businesses fail because of no proper training programs?

This year is my last year at high school im a senior graduating in the class of 2010. I have just started to think about ideas and things i want to do in the future as well as looking up schools and finding whats best for me. My main goal for the future is to open up my own store and being an apparel business owner. When i look around places i see that Entrepreneurship and business management have a lot of similarities. So whats the best thing for me to study because im confused.

Being that you are just about to begin college, I see no reason why you wouldn’t study both. Regardless of what you want to sell, you have indicated that you would like to open your own business. Opening your own business is entrepreneurship. Managing and running that business is business management. You could also manage a business that someone else owns, this is still business management and would give you the experience in business management without the added responsibilities of owning the actual business you are managing.

Regardless, the internet is now providing the ability to "open a store" without the traditional overhead associated with a "brick and mortar" type of store; therefore, you should not only study business management and entrepreneurship, but also study the different sales channels that could make your business profitable.

Bottom line is; you have some time. Study and absorb as much as you can and diversify what you study in college. This will broaden your perspective and level of experience when you finally decide to take action on your business ambitions.

Best of luck!