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How SMEs can overcome growth barriers

admin — Mon, 06 Feb 2012 15:04:03 +0000

In the wake of a challenging economic climate, many small business owners are bucking the trend of hunkering down and instead are embarking on ambitious growth plans.

As the backbone of the economy, small businesses continue to be a source of dynamism, growth and innovations. Small to medium-sized businesses constitute 90 percent of total enterprises in most economies. In the US alone, there are more than 27.5 million small businesses and employ more than half of all US workers.

Source: BusinessDay

10 Things Start-Ups Won’t Tell You

admin — Mon, 06 Feb 2012 14:00:52 +0000

1. “Our businesses will probably fail.”

Americans are creating more new businesses now than they have in the past 15 years. But half of those start-ups will fail within their first five years, according to the Small Business Administration. Of those that make it that far, only a third will see their tenth anniversary. In 2009, for instance, 552,600 new businesses were created while 721,737 small firms closed or went bankrupt, estimates the SBA, according to the most recent data available.

Source: SmartMoney.com

Ten cost-effective ways to test your product

admin — Mon, 06 Feb 2012 13:20:56 +0000

As a small business owner, there are hundreds of tasks to deal with, but at the end of the day, it all boils down to the two most important things: your customers and your product. So how can you build a product that will be embraced by customers? Here are ten cost effective ways to test and improve a product.

Source: The Globe and Mail

Are You Ready to Make the Jump into Small Business Ownership?

admin — Mon, 06 Feb 2012 13:18:28 +0000

There are two types of entrepreneurs: those that jump into a new business headfirst, and those that dip their toes in the water. One’s not better than the other, though the second one is probably more prepared for what lies ahead. In Making the Jump into Small Business Ownership (@MakingtheJump), authors David Nilssen (@DavidNilssen) and Jeff Levy (@JeffLTheESource) guide readers into the water, so to speak. They dissect what it takes to become a business owner into easy-to-digest chapters peppered with real-world examples.

Source: Small Business Trends

(UK) Second recession fears grow as small business confidence plummets

admin — Mon, 06 Feb 2012 12:52:17 +0000

The beleaguered state of the UK economy has been underlined by three separate reports revealing that Britain’s one million small and medium-sized businesses were facing their most difficult year since the recession of 2009.

Sharp declines in bank lending to smaller firms, and a collapse in confidence across the sector outlined in the reports will add to concerns that the economy is about to enter a second recession in three years, analysts said.

Source: The Guardian

Is Facebook advertising right for your small business?

admin — Mon, 06 Feb 2012 12:39:55 +0000

Why pay to advertise on Facebook when you can create a page for your small business at no cost?

That’s the question that a small business owner and avid BizBytes 101 reader asked recently. To find the answer, BizBytes turned to Jennifer Batchelor, social media strategist at Miami-based Zubi Advertising. The firm creates social media campaigns for major brands including Ford, Crisco and Smuckers.

Source: MiamiHerald.com

Lack of demand, not regulations, holding businesses back

admin — Sun, 05 Feb 2012 13:16:09 +0000

We’ve all heard the arguments: Regulations are strangling U.S. businesses. It’s been a staple in the Republican playbook for years.

But a funny thing happened last week. The American Sustainable Business Council, the Main Street Alliance and the Small Business Majority released a survey blaming the stagnant economy not on onerous regulations but on weak consumer demand.

Source: UPI.com

5 websites with tax tips for owners of small businesses

admin — Sun, 05 Feb 2012 13:10:59 +0000

Whether operating a small retail shop on main street or running an Internet business from home, every owner of a small business faces the same challenges when it comes to paying taxes and staying abreast of the latest federal tax information.

Several websites offer a variety of information about small business taxes. Here are a few sites worth a visit.

Source: HeraldNet.com

Match Your Marketing Style to a Killer Marketing Strategy

admin — Sun, 05 Feb 2012 11:39:12 +0000

If communication strategies can be created based on personality type, why can’t there be marketing strategies based on the same thing? This idea dawned on me as I was making excuses for adding video to my website. No matter how great video is as a strategy, I just couldn’t bring myself to do it consistently.

Source: American Express OPEN Forum

Creative Exercises for Naming Your Small Business

admin — Sun, 05 Feb 2012 11:36:38 +0000

A new year; a new business. If that goal is on your list of 2012 resolutions, then listen up. Whether your next business venture is a cupcake shop, mobile app, or IT consulting firm, you won’t be very successful without a name for yourself. Sometimes deciding on a name is as simple as using your own name for your business, but often times it can be a creative struggle that haunts you in your dreams. You want it to be catchy and clever, but you also don’t want it to be so obscure people won’t recognize it.

Source: Buzz Small Business Magazine