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Small Business Matters
Entrepreneur and founder of The Body Shop Anita Roddick once said: “Nobody talks about entrepreneurship as survival, but that's exactly what it is and what nurtures creative thinking.” The first few years of small business ownership are undoubtedly the toughest, a huge test of entrepreneurial character. And data proves that getting it right is as challenging as ever. According to the SBA Office of Advocacy (PDF), the survival rate for new employer firms stacks up as follows: Seven out of 10 new employer firms survive...
Next month our nation’s entrepreneurs will come together in Washington, D.C., and virtually via the Internet for a three-day celebration of National Small Business Week – the 49th straight year. The centerpiece of a variety of week-long celebrations is the annual National Small Business Week Conference, May 20-22 at the Mandarin Oriental Hotel. Hosted by SBA, the event includes educational forums, networking sessions, and an awards ceremony recognizing the impact made by outstanding American entrepreneurs and small business owners...
Are you writing a business plan? Planning to expand into new markets? Then it’s worth knowing that Uncle Sam offers access to free data that can help you understand your market and analyze consumer trends and demographics. In fact, the federal government is the largest producer of data in the U.S. with numerous offices dedicated to collecting, analyzing and providing free access to their findings – good news for budget-conscious small business owners. Here are five government sources of market data and statistics that may...
How do you describe your business to the world? What words sum up your brand identity and what you have to offer? Are you clearly explaining your business value? It takes a little time and thought to get your marketing message right, which is why so many small businesses fall back on their “About Us” page or product descriptions to describe what they do and for whom. The problem with this approach is that this message is always about the business itself, and not about those you are trying to connect with – your customers....
There’s no doubt about it, women are a rising force in American entrepreneurship. Here are some fast facts on women-owned businesses: The latest Census data indicates that 7.8 million U.S. businesses are owned by women. This represents a stunning 44% increase from 1997-2007, twice the growth rate of men-owned businesses. Women-owned firms now make up close to a third (29%) of all nonfarm businesses across the country. These firms generate a total of $1.2 trillion annually and employ 7.6 million people. Clearly, women-owned...
Do you engage in public relations to market your business? Public relations, or PR, isn’t just for large companies or something for times of crisis. A well-planned public relations strategy can reap the following benefits: It can extend word of mouth news about your business beyond the reach of any advertisement, flyer, postcard or email, and help you reach new markets. It reaches both influencers (journalists and bloggers) and those they influence (your customers), giving credibility to your business. However, PR is more than...
Whether it’s Main Street or Silicon Valley, your business location can mean the difference between success and failure. But more than that, your business location is the linchpin for your reputation, your brand, and your profits. In fact, choosing a business location is perhaps the single most important decision a small business owner or startup will make, so it requires precise planning and research. It involves looking at demographics, assessing your supply chain, scoping the competition, staying on budget, understanding how state laws...
Social coupon sites have been around for a few years now, and they still continue to attract and perplex small business owners. Companies such as Groupon, Living Social and EverSave have created a marketing phenomenon, delivering huge benefits to consumers – but not always delivering the return on investment that businesses might have expected. If you’re exploring the use of social coupons, here are some tips for assessing whether they will work for your business and how to plan a successful campaign. What Can Social Coupons Do for...
How are you backing up your small business data? If you are like most small businesses, you could be compromising your business and its data on a daily basis. A 2011 survey by Carbonite, a provider of online backup solutions, found some facts about data loss that may surprise you: Forty-eight percent of American small businesses with between two and twenty employees have experienced data loss, up from 42 percent in 2010. Top causes of data loss include hardware/software failure (54 percent), accidental deletion (54...
How’s your business networking strategy doing? Have you even got one? It doesn’t matter what type of business you run, networking with potential partners, customers, suppliers and even your peers is an essential part of business ownership. For many of us though, the term “networking” conjures up images of schmoozy sales pitches and painfully difficult networking events. Let’s face it – it can be downright scary throwing yourself into a room with a glass of wine in your hand as your only defense from the...
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by Caron_Beesley, Community Moderator on Thursday, April 12, 2012 - 07:11