Starting a small business is undoubtedly challenging, even for the most experienced entrepreneur; the statistics about the high number of businesses that close within a year are a testament to these challenges. However, there are certain mistakes you can avoid in the short term to make success in...
Keeping a small business going isn’t for the faint of heart. While 80% of companies with fewer than 500 employees make it through Year 1,says the U.S. Chamber of Commerce(opens in new tab), just 70% are still operating at the end of the second year. By the time they hit ...
Small Businesses Need Big Ideas: The Federal Reserve Examines the Challenges of Small Business FinancingAccording to the U.S. Bureau of Labor Statistics, small businesses accounted for 34 percent of...Farr, Jessica
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Thanks to:Peter Geisheker ofGeisheker Group Marketing Firm. 20. Focus Matters The biggest challenge facing small business is focus--not credit, jobs, or technology. During times of seismic change (like right now), customers needs shift. The services, products, and solutions they used to get fr...
Like large corporations, small-business owners also feel the tremors of any shock passing through the business world—and it can sometimes leave you with little time to prepare to weather the storm. By staying fluid and ready to adapt to relevant technologies, you’ll give your business a chan...
Being a small business owner is the very definition of “wearing many hats.” On any given day (or even within the same hour), you’re the marketing guru, the IT director, the office manager, the customer service rep… and the list goes on....
2. Tiredness affecting small business owners It’s tempting to try to do everything if you’re a small business owner, and long hours add pressure. Fatigue, one of the most commonly overlooked small business challenges, can leave you disorganised, forgetful and cranky, not paying as much att...
Financial planning is the cornerstone of small business growth. Without a solid financial plan, small businesses will struggle to secure the resources they need to grow and succeed. This section will discuss the key elements of financial planning, including detailed financial projections and budgeting,...
Small business owners often think they’re largely immune from cyberattacks. Thathackersonly target large organizations because that’s where the money lies. In fact, 82 percent of small business owners believe they’re not targets for attack because they don’t have anything worth stealing, accor...