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Get to know these small business statistics

Sometimes entrepreneurs are working so quickly and are so focused that it can feel like we're working in a vacuum. Getting to know what's going on with other small businesses can be a crucial way to gauge what's happening in the industry and where we stand. To make that a little bit easier, we've compiled some statistics about small businesses that can help you take the temperature of the field and gain an understanding of today's climate. We sifted through reams of government data to drill down...
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How to protect your small business in the midst of the coronavirus outbreak

​With stock markets plunging and coronavirus cases surging, owners of small- and medium-sized businesses are scrambling to figure out how to deal with the disruption to their operation.  ​[Read full article on CNBC]
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5 marketing mistakes small businesses must avoid

The world of marketing is evolving, and it's a continuing challenge to ensure that your business gets the exposure it needs to thrive. Check out five marketing mistakes that you should avoid if you are looking to get the word out about your firm.   1. Counting on your marketer to solve all your problems You may have brought on the best marketing professional in town to handle your needs, but that person can't overcome fundamental issues if you have them. Poor products or services, a bad rep...
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Which type of crowdfunding is best for your small business?

So you could use a little cash injection for your small business, but you're not sure you can get a traditional small business loan. Short of winning the lottery (or draining your personal savings), what options do you have for funding? Crowdfunding may be for you.  ​[Read full article on Entrepreneur]
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Importance of estate planning for family businesses

Did you know that a huge number of family-owned businesses do not survive into the second generation (65 percent), and, on top of that, around 20 per cent fail once it reaches the third generation? The reasons for this are many and varied. Some heirs are simply not the business leaders their parents were. Others don't have the same appetite for the sector. Others might have different risk tolerance. In still other cases, family rivalries and legal issues can tear a business apart from withi...
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15 ways start-ups conquer PR & media relations

Despite being a powerful tool for building a brand, the role of PR is often misunderstood and undervalued. Some business owners think of PR as damage control when a company's reputation is at stake, while others confuse PR with marketing. Unlike marketing, which aims to boost sales by speaking directly to consumers, PR aims to build positive relationships through media coverage. To help you understand how PR can help your business, William Comcowich shares here some top tips for from PR speciali...
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16 ways grow your business without spending money

When it comes to growing your business, figuring out ways to be more organised, efficient and cost-effective is the best place to start. By saving time, effort and expense on the day-to-day running of the business, you'll free up valuable resources that you can invest in further growth. Based on "real-life ideas from successful businesses," Elizabeth Walker and Ken Burgin share here some top tips for growing your business that you can put into action "right away, without having to research, test...
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How to know which ideas your company should pursue

While some companies struggle to come up with a single idea that has great potential for success, others may find it hard to choose just one from a number of promising ideas. The problem, say researchers Dirk Deichmann, Violetta Rodopoulou and Inga Hoever, is that "there is no widely shared notion of what constitutes a good idea." Rather than focusing on the usual criteria of "novelty, feasibility and market potential," they propose selecting an idea based on efficiency. Here, they share ho...
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9 simple but important tips to leverage Pinterest for your business

Among social media platforms, Pinterest is often underrated and overlooked as a marketing tool. Consumers research products online. And as a picture-sharing source of inspiration, Pinterest helps users visualize how those products will fit into their home or lifestyle. With a highly engaged audience and a high conversion rate, Pinterest offers valuable opportunities for promoting your products, generating leads, and growing your business. Here, social media and business strategist Debb...
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The SWOT analysis challenge: A five-step guide for entrepreneurs

A SWOT analysis is a simple yet powerful tool for evaluating your competitive position and making strategic decisions for the future of your business. By examining both the internal factors—your strengths and current weaknesses—and external factors that impact the business, you can develop a business strategy that helps you maximise existing opportunities, discover new opportunities, and prepare for changes in the market. Here, Lisa Furgison challenges you to carry out a SWOT analysis and create...
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