small business news and trends

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You can also use geo-targeting to reach out to potential clients who are in your area using Google ads, which allows advertisers to target mobile users in specific geographical locations. Using print-on-demand, items will be created on the spot only after they’ve been ordered. Year over year, the business services, retail, and food and restaurant industries remained in the top five most popular small business industries. It’s clear that interest rates are in the top three biggest concerns for small owners, as 39 percent of respondents used one or more forms of debt financing to start their business. These Gen X small business owners slightly lead baby boomer small business owners (55 to 73 years old), at 41 percent. This emphasis on business fundamentals shows with more than three-quarters of respondents focusing on growing their current business location and a 13 percent year over year drop in those interested in opening an additional location. Instead of being distracted or unproductive, they put in more work, and they don’t have to waste time commuting to the office. Another important small business trend is the surge in remote work and freelancing. You can also take it up a notch and create a Members Area, where you’d be offering a dedicated space for your most loyal customers. Due to this it’s crucial that your business is active on platforms like Facebook, LinkedIn, Twitter, and Instagram. 2020 is an important year for small business with a historically tight labor market, a major election, and significant global economic and political change on the horizon. Creating a blog can also help solidify your voice in your field of business and continuously link you to your audience. But research shows it’s quite the opposite. Seen any recent examples of where it's done well or poorly? Technology Will Help Businesses Improve Customer Service, 8 Bank Loan Requirements You Should Know About. They are entering and graduating from college at a higher rate than men and are expected to have an increasing presence in the health, education, and service sectors in the coming years. Forty-four percent of small business owners are Gen Xers (39 to 54 years old). Google wants your site to be mobile friendly - Way back in April 2015, I warned you about Mobilegeddon, the change that, Millennials have officially surpassed Baby Boomers as the nation's largest living generation, dominating the workforce and, As an entrepreneur, you are constantly "on". After all, as smartphone ownership continues to grow rapidly around the world - with an estimated, You can also use geo-targeting to reach out to potential clients who are in your area using, More people are using their mobile devices to conduct daily transactions than ever before, from doing groceries to booking fitness classes. Millennials (23 to 38 years old) come in third, at 12 percent, while only two percent of small business owners are 74 years old or older. The average small business owner answered “somewhat happy” when asked how happy they are as a small business owner (on a 5-point scale from “very unhappy” to “very happy”). Find out how to take your business to the next level, The Ultimate Guide to Small Business Trends: 2020 & Beyond, Fora Financial is a working capital provider to small business owners nationwide. This year we lost an incredible WWII veteran and award-winning entrepreneur, who many considered to be one of the nation's top thought leaders and grandfathers for the "vetrepreneurship" movement to inspire more veterans to explore entrepreneurship as a career path. More people are using their mobile devices to conduct daily transactions than ever before, from doing groceries to booking fitness classes. While these provide unique benefits such as flexible scheduling and forgoing a long commute, many who are operating outside of a traditional office space may face additional challenges, such as maintaining a work-life balance. Take New Jersey entrepreneur and Wix user RanD Pitts’ personal testimony as one of several success stories about transitioning into eCommerce. You can also up your marketing strategy by sending mobile push notifications from your app. With three quarter-point interest rate cuts in 2019, the Federal Reserve undid nearly all of its rate increases from 2018, despite a growing US economy and unemployment rates at near-historic lows for most of the year (before reaching a historic low in November 2019). These professionals specialize in increasing engagement rates and can leverage their large following to bring attention to your products or services.

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