There are many reasons a small business may consider expanding into a new market. For example, you may have been in business for many years and feel the need to grow with customers. Or you may just be getting started and need to reach new markets. Whatever the reason, it takes a lot of planning. Continue reading for tips to help you prepare.
Payroll is one of the most important (and complicated) aspects of running a small business. It involves taxes, employee deductions, and tax forms. Even though you run a small business, it might be wise to outsource your payroll needs so you can focus on other aspects of running your company. It’s essential to know what types of questions to ask when evaluating potential vendors before signing a contract.
If you’re a seasonal business owner and you’ve been in business for a while, chances are good that you’ve already figured out what works best for you during your busiest season. But if this is the first year that your business has experienced high demand, or if you’re just getting started, then it can be hard to know how best to prepare yourself and your staff for upcoming challenges. So continue reading for tips to help get your business ready for fall and winter.
Customer loyalty programs are a great way to reward your most loyal customers, the lifeblood of every sustainable business. The statistics vary depending on the source, but it’s safe to say that it costs less to engage existing customers than to acquire new ones, making a customer loyalty program an excellent retention tool for your business. A customer loyalty program can also increase brand awareness.
For small businesses, medium enterprises, and large companies of all kinds, digital marketing is an accessible approach for expanding your customer base. Continue reading for a quick overview of digital marketing and eight tips for online marketing success.
Social media can be an excellent tool to help small businesses market their products and services. It’s inexpensive compared to many traditional marketing options and has the potential to reach large numbers of potential customers. If you’re interested in learning how to effectively use social media to promote your business, this post can provide you with a few tips.
A well-designed website is vital for a small business. A polished and professional website can help boost the credibility and reputation of your business. Building a website sounds overwhelming, especially if you’re unfamiliar with the technology. However, there are several options to make it less scary.
Advanced technology, changing corporate policies, and the COVID-19 pandemic have made working remotely more common. As a result, remote work appeals to many employees, with more than 97 percent of employees choosing to work remotely, at least part of the time. In addition, a recent study found that working remotely increased business productivity by 13 percent when comparing a company’s profits to previous years.
In difficult times, it’s not difficult to see how collaborations between companies have the potential to offer mutual support and even bring a community together, be it geographical or categorical. For example, craft breweries sometimes join forces in raising funds for emergency-based or nonprofit causes by offering “benefit beers.”
However, the importance of collaboration in business can’t be overstated in good times, either: it creates the potential for multiple companies to benefit from physical, human, or intellectual capital as well as financial advantages.
More and more, social media marketing is becoming essential for business owners. As of April 2021, reports indicated that 72% of the American public use some type of social media, and the average time spent on social media each day is just over two hours.
As such, for the business owners who can do it successfully, there’s so much to be gained from social media marketing. A successful social media campaign can help businesses increase their customer base, spread awareness, build their brand, and strengthen relationships with existing customers—all of which are essential for profit and growth. Best of all, aside from services such as paid ads, social media is free.
You’ve decided to open a business, and you even have the perfect name for it. Now what? From the very beginning, you’ll need to start building your business credit. Having good credit will help you get approved for a business loan and get better terms on that loan, which can save you a considerable sum of money in the long run. But, for now, you’ll need to know how to build your business credit. Taking advantage of tips for building credit can be a significant factor in your success.
As a small business owner, you know that you might need extra hands-on deck during the winter holiday season, the summer months, or whenever you have your “peak” season.” But the seasonal hiring process can be daunting.
This blog can help! Check out our tips for hiring seasonal employees.
Maximize your brand outreach by creating a unique logo for your small business. Your logo can set your business apart from competitors and represent your brand. See this guide for tips to consider when creating a logo for your business.
Many small businesses borrow money to grow, helping them develop products and services while expanding into new marketplaces. This initial cash injection will really help you get up and running, but it’s also important to think about the ongoing cost of your loan repayments.
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Community Reinvestment Fund, USA is an equal opportunity provider.