Posted On Monday 19th June 2017 10:08 AM
According to the 2017 Social Media Marketing Industry Report from Social Media Examiner, 92% of marketers said that social media is important to their businesses (that included business owners as well). So obviously businesses are getting the message.
This year, not much has changed, you still need to use social media for your business, however, it’s more important now to have an exact plan, or strategy, about how you are going to implement your social media marketing.
Get this 41% of Americans say it’s important that the institutions they engage with have a strong social media presence and of those Americans who have a social media account, 28% would rather engage with a brand/organization on social media than visit a physical location.
So let’s do some math. There are roughly 326 million Americans. According to Pew Research Center, 69% of adults in the U.S. use social media, which makes approximately 225 million people. If 28% would rather engage with you on social media than walk in your door, that means 63 million people prefer interacting with businesses on social media than in-person. And that includes me.
The top choice for a customer care channel is social media (Sprout Social) so now is the time to start crafting that oh-so-important strategy to make it all work.
Social media marketing is more than just posting content to Facebook. Or Twitter. Or Instagram. It’s more than sharing articles or videos. It’s connecting with your audience in a precise manner. To me, there’s an art, or science, to it.
Before you start doing anything on your social media platforms, you have to know why you are using it :
In the 2017 Social Media Marketing Industry Rep
Posted On Friday 9th June 2017 12:52 PM
Almost half of small and medium enterprises have turned down a contract or order due to not being able to deliver the work, new research has revealed. The study, from Hitachi Capital Invoice Finance, shows how ‘unfair reasons’ are the predominant cause for SME’S having to say no to paid work.
This includes how the contract would not pay enough, or it was priced too cheaply (25%), a lack of management time and the customer known to be a bad payer (24%) or that they were offered unfair payment terms (23%).
Of 501 business owners surveyed, half (50%) have lost out on up to £10,000 in the past year due to rejecting contracts, with initial ‘start-up’ businesses at the most risk, with 28% having lost between £20,001 and £30,000 by doing so.
Manufacturing businesses appear to struggle the most, with 42% of their business owners stating they have turned down orders on several occasions, due mainly to the unreasonable demands made by customers.
Outlook remains positive however, with a majority of companies (60%) agreeing they don’t think that Brexit will impact on them rejecting more, or acquiring less work in the years ahead. An even higher percentage (66%) have not had to invest personal funds into their business in the past 12 months.
Andy Dodd, managing director at Hitachi Capital Invoice Finance, said: “SMEs are unfortunately having to decline contracts and orders due to unfair payment terms and unreasonable asks, not because they can’t deliver the work. Bad payers and unrealistic contractual terms can have a hug
Posted On Thursday 8th June 2017 12:00 PM
Europe considers small and medium enterprises commonly referred to as SMEs – as the backbone of its economy. Considering these businesses represent around 99% of all the businesses in the region, it’s not hard to see why.
In the past few years alone, these SMEs were responsible for creating around 85% of new jobs, providing two-thirds of the employment in the total private sector of the EU. It comes as no surprise that the European Commission would consider entrepreneurship as well as these small and medium-sized enterprises as vital to the continued innovation, economic growth, social integration, and job creation in the European Union.
But just what kind of support do these SMEs receive? Learn about what the EU does for them below:
Europe creates a business friendly environment:
The European Commission has at its core the SBA or the Small Business Act for Europe, which provides a thorough SME policy for both the EU and the countries that are a member of it. This Small Business Act promotes an entrepreneurial spirit among all European citizens by promoting a “Think Small First” principle aimed at encouraging small and medium businesses.
The Europe promotes entrepreneurship:
Entrepreneurship is well promoted by the EU through the Entrepreneurship Action Plan. The Commission also provides the necessary support tools for those who aspire to become entrepreneurs.
With the “Think Small First” principle, SMEs are moved to center stage, whereby their needs are looked into in order for new laws and legislation that might impact their operations to be introduced. This move not only helps set the focus on small and medium-sized busin
Posted On Monday 5th June 2017 12:36 PM
In a world where social media is (almost) everything, there is no denying the benefits of an engaging online presence for your business.
More than 1 in 10 surveyed Australians have now shopped via a social media platform. Successful social media strategies allow small businesses to convert customers to unofficial, yet involved, brand ambassadors who are genuinely excited about products and services, and are willing to share them with family and friends. Additionally, we’re seeing a rise in consumers ‘browsing’ on social media before they buy, so a strong presence is increasingly important.
But, like everything, there is always a flip side.
As social media platforms increasingly become a key way for customers to interact with your business, the potential risk of malicious brand damage from online fraudsters increases. In fact according to a study by Proofpoint, close to 600 new fraudulent brand accounts were created each month between April and June 2016 on Facebook, Twitter, YouTube and Instagram.
These fraudulent brand accounts, run by cybercriminals, hijack brands by creating fake pages and accounts with the business’ name and credentials in an attempt to convince potential customers of its credibility. They have also been known to offer free perks and customer service actions which, in reality, do not exist.
PayPal is no stranger to this phenomenon. We’ve discovered accounts purporting to be the company on Twitter and Facebook. Whether you run a small business or work in a multi-national company, protecting your brand’s reputation, and the experience your customers have with your business, is essential.
While the complete prevention of social media fraud is ideal, it is not
Posted On Friday 2nd June 2017 10:01 AM
With a staggering 5.5m businesses in the UK and 99 per cent of these being classed as SMEs (employing 0-249 people), it is vital these companies avoid mistakes when recruiting.
The overall cost of employing the wrong person and finding a replacement is worryingly high, with a 2014 Oxford Economics Report highlighting the loss of an employee on £25,000 a year carries an average financial impact of £30,614. This is costly for a growing business, so it helps to know how to avoid mistakes when recruiting.
There are several factors to take into consideration before you make that final decision. It is vital for SMEs to recruit for the talent that a candidate brings and also for their ability to support future growth of the company. Both of these can be achieved by avoiding common mistakes when recruiting, and instead following these six tips.
1) Look for a balance between autonomy and following processes
Working for a growing SME often involves a need for autonomy as it is essential that a candidate can cope with the level of independence required. Likewise, they will need to be able to adapt and follow the processes already in place in order for the business to achieve steady growth.
2) Don’t assume career “downscaling” is bad
A candidate wanting to move from a large company to an SME should be seen as a positive. They can bring ideas, processes and knowledge which can be scaled down to fit the exact needs of the SME. Many business leaders see career downsizing as a negative thing; however often it is because the candidate is striving for more responsibility and the opportunity to broaden their experience.
3) Be 100 per cent sure
Each and every employee in an SME has a large impact on the bus
Posted On Wednesday 31st May 2017 10:49 AM
The arrival of Goods and Services Tax (GST), a single window taxation system, is supposed to help SMEs which are often burdened with taxes and its compliance. Whether the GST will be a boon to SMEs or not is still to be seen, but it is expected that all the states will pass this Constitution Amendment Bill in their respective Assemblies, helping in initiating a single window indirect taxation system.
With over 51 million SMEs in India, it contributes 50% of the industrial output and constitutes India's 42% export earnings. Thus SME, the leading employment generating sector other than IT, holds the key in the post-GST era and understanding of its impact.
Marginal reduction in tax payments
For most SMEs, tax payment is a big issue when the organisation is yet to flourish. Before GST, business organizations having a turnover of more than Rs 5 lakh had to pay VAT registration fee. With GST, the lower ceiling for such businesses will be Rs 20 lakh (Rs 10 lakh for NE states), providing a huge relief to young entrepreneurs, allowing more categorical investment, leaving a room for reaping benefits in the near future.
The CEO of Honcho Commercial Pvt Ltd, Tanay Ghosal says, "Exemptions up to Rs 20 lakhs, along with the registration required for individual or company having a turnover of Rs 20 lakh or above which was previously Rs 10 lakh will help the startups. All SMEs will benefit as they would not need to register if they have a turnover less than Rs 20 lakh."
Advancement in logistic application and faster delivery of goods
The GST bill ensures that a company or organization does not need to pay any entry tax to manufacture or sell any product in India. Bureaucratic complication is considered as the biggest problem for SMEs, where socio-economic and polit
Posted On Saturday 27th May 2017 10:31 AM
In developed countries plus China and India, small and medium-sized enterprises (SMEs) generate about a half of the GDP and jobs. In other developing countries, their share in the economy averages 33%. In Russia, SMEs make up 20% of the GDP, employing just a quarter of the population. While China has more than half of its exports coming through SMEs, in Russia this figure does not exceed 7%. The Russian authorities are taking steps towards giving SMEs a more pronounced role, viewing it as a way to improve the structure of the economy, spur innovation, and promote higher employment.
Small and medium-sized businesses drive many economies worldwide.
* According to the Organisation for Economic Co-operation and Development (OECD), SMEs provide jobs to between 60% and 70% of the employed population in developed countries and to 80% in China.
* The SME contribution to the economy is around 50% in the US, 47% in the UK, 57% in Germany, 60% in China, and 45% in India.
* In China, small and medium-sized businesses account for 65% of patents, 75% of innovations in technology, and more than 80% of new products.
* According to the World Bank’s estimates, over the next 15 years, SMEs will be creating four out of five new jobs in developing countries.
A considerable share of products made by SMEs is exported.
* The OECD estimates that share at 25% to 35% for developed countries, adding that for certain economies the number can be even higher: around 40% in South Korea, more than 40% in the US and Germany, and over 50% in China.
In most co
Posted On Friday 26th May 2017 12:31 PM
Working on promoting an SME can be one of the most rewarding PR roles out there; catapulting a small business into the public eye and boosting their reputation so that they’re sharing column inches with bigger entities is an addictive buzz.
That said, as with any PR function, an important part of the role of an SME PR is managing expectations, to ensure that clients have realistic ideas of what can, and should, be achieved for the benefit of their business. Here we look at some of the most common misconceptions among small businesses when they take on a PR firm.
“I want to be on the front page”
Many small businesses want to appear in the national newspapers, without really knowing why. The misconception is that the bigger the publication, the more beneficial it’ll be to your business – but this is not always the case. A publication could have monthly visitor traffic of 1 million, but if few of them are interested in what your business has to say, what’s the point? Conversely, another publication could have just 10,000 readers, but, because that particular publication is read by your target audience, the chances are, they’re listening.
“I want to be on TV”
Many SME owners want to become famous, believing that fame alone with drive their business to success. In fact, a more tailored approach to PR, such as press coverage in appropriate outlets for your business, is more likely to achieve the positive results that you so desire. Although broadcast media can be a helpful tool to promote your product or service, it may not always be the most beneficial outlet for you. A good PR agency should identify the most useful outlets to your particular business, explain w
Posted On Thursday 25th May 2017 11:35 AM
While small and medium businesses are expected to face teething trouble in complying with the Goods and Services Tax regime, the new tax system will also open an opportunity for them to access credit as GST filings are set to become a significant data source for flow-based lending.
Both banks and digital lending players say GST filings can be the best trove of information to lend to small businesses and will also reduce risks and cut costs while scoring these businesses for credit worthiness.
“GST will help make invoicing and data analytics around businesses more credible. In the long term, it will be beneficial for both SMEs and lenders,” said Rajeev Ahuja, head of strategy, retail and financial inclusion at RBL Bank.
“For banks like us, it will help reduce costs of doing business. Today, assessing small business involves feet on street and operational work. With GST, there will be a significant opportunity for many service providers to leverage that data. There will be more authentic information on small businesses, which can also help reduce risks in lending,” he added.
GST, which is set to roll out from July 1, is expected to see eight million taxpayers come under the new tax regime, with more than 2 billion invoices expected to be filed every month.
The GST filings are expected to be one of the most significant data points for flow-based lending, given the authenticity and complete information of an SME’s financial health. Flow-based lending entails lending based on cash flows of a company as opposed to collateral or asset-bas
Posted On Wednesday 24th May 2017 11:39 AM
Women entrepreneurs may have been few and far in the previous decades, but their tribe has steadily increased, and has reached an astonishing number today. Driven by a wish to exercise more control over their career and be their own boss, women are putting their skills to good use successfully. Not only are they multitasking, they are now more confident and not afraid of taking risks.
If you are one of those self-willed women, desirous of starting or expanding your business unit, this article is for you. Handling a business is not an easy task. Apart from the inflow of ideas and planning of resources, a major part of any business is dealing with finances.
Here are some finance options available to grow and sustain your business.
After starting off with personal funds, you will find the need to look for more funding and as your business grows.
Bank Loans: Taking finance from banks is one of the safest options. Various schemes are being implemented by banks and financial institutions to cater to the financing needs of the Micro, Small & Medium sized businesses. Several banks even have special cells for female entrepreneurs. They provide on-ground training and counseling to women entrepreneurs and show them avenues for promoting and marketing their businesses.
A well-prepared business plan is all that the banks look for. It is important to note that the business plan must be based on realistic assumptions and must not be over ambitious or designed merely to secure bank loans.
Angel Investors/ Venture Capitalists/ Private Equity Players: Angel investors are affluent individuals. They take on the business from the seed stage and facilitate mentoring for budding entrepreneurs. VCs finance for start-ups and do
Posted On Tuesday 23rd May 2017 2:31 PM
Small businesses may struggle to adopt new technologies, but that doesn’t mean they don’t want their accountants out of the loop, too.
A new report from SME cloud accounting company Xero, in conjunction with World Wide Worx, found that South African small business owners want their accountants to have the latest technologies and warned that several technologies are critical for SME accountants and accounting platforms to stay relevant and retain customers.
We are entering a period of rapid technological change within the accountancy profession, reflected Colin Timmis, Xero’s South Africa head of accounting, in a statement. From automation to artificial intelligence, accountants are having to upskill and evolve their offering.
“The report has shown that South African accountants are preparing for change, but they need to ensure they’re clued up on the next big tech innovations and affirm their status as the SME owner’s most trusted advisor,” he continued. “If they can do that, the future looks bright, as 42 percent of accountants peg South Africa as the country to watch for future innovations in the profession.”
It’s an interesting statistic, with Xero finding that South Africa surpasses the U.S. and U.K. as the leading market for innovations in the accounting industry.
Xero’s 2017 State of Accounts report below:
93 percent of SME accountants admit they could add more client value with the spare time they have every da
Posted On Friday 19th May 2017 11:01 AM
Getting into business is easy, selling is difficult. Business is about generating revenues and cash flows. If you can sell, you cannot be in business.
In business, only the right story wins the sales deal. In today’s fast-paced business environment, the best financial results are obtained when a good marketing strategy meets an equally efficient sales strategy.
Marketing and sales teams must work together. The alignment of marketing strategies to sales efforts is key for organisational success.
Today we engage in a conversation to help small business grow their sales and marketing capability.
Have a clear marketing strategy
The primary role of marketing is to create a support structure on which the sales effort will be built. Without a marketing plan, it will be difficult to generate sales. Marketing strategy deals with how your business intends to generate sales leads.
Your marketing strategy must deal with issues of customer relationship management, and the marketing strategy must be simple, effective and easily implementable. Here are a few tools one can use as marketing tools.
Use strategic e-mail lists
Creating a database of emails of potential customers is incredibly valuable for a business. It provides your marketing effort with the ability to target specific segments of the market and individual clients can receive specifically tailored messages.
Getting the right product information out to potential customers at the right time can be extremely profitable for a business. However, avoid spamming potential customers and avoid sending out generic blanket or group/bulk emails.
Potential customers are likely to respond to personalised emails. You must, therefore, take time to
Posted On Tuesday 9th May 2017 10:51 AM
Digital transformation is not just about replacing the old with the new. It is about harnessing technology to create a culture that will enhance every aspect of an organisation. It involves reshaping and redefining businesses from the ground up and pulling together all parts of the business towards a single goal. This year, SMEs must take bold steps to put their digital transformation plans into concrete action that will ensure their business survive and thrive against disruptions in the era of digital. According to Capgemini Consulting, companies that become digital enterprises can look forward to a 26 percent increase in profitability, a 12 percent increase in valuation, and a 9 percent increase in revenue to asset ratio. The Singapore government has created the new Government Technology Agency to help drive digital transformation in the public sector, underscoring the importance of technology innovation in both public and private sector. How can local SMEs embrace this notion and incorporate what may seem as a far-reaching idea into their business processes?
Align for agile delivery
In order to react quickly to market changes and exploit opportunities, SMEs need to remain agile. This includes adopting continuous development cycles that inspire incremental improvements, balancing between speed and quality of innovation. SMEs must roll out digital platforms and put processes in place that will allow them to continually refine existing products and seamlessly rollout new initiatives without impacting core operations or customer experiences. This helps create the conditions for companies to lead with entries into
Posted On Saturday 6th May 2017 11:42 AM
The Goods and Services Tax (GST) bill was passed with a full majority in the Lok Sabha on March 29, 2017, and on April 6, 2017, in the Rajya Sabha. President Mr. Pranab Mukherjee on April 11, 2017, signed GST bill and made it a law, introducing the biggest indirect tax reform in India. The expected rollout date of the GST was April 1, 2017; however, it is now scheduled to be implemented from July 1, 2017.
At present, the structure of indirect taxes in India is very complex as there are many types of taxes levied by the Central as well as State Governments of India on goods and services. Some examples are - Entertainment Tax on movies, Value Added Tax (VAT) on products and services, Excise Duties, Luxury Tax, Import Duties, Service Tax, Central Sales Tax, and so on.
Wouldn’t it be convenient for both of the buyers and sellers if there is just one unified tax rate in India instead of multiple taxes?
This is possible with GST! If you are not aware of this standard taxation policy which is soon going to be implemented all across the country, here is everything you should know about it:
GST: A Brief Introduction
GST (Goods and Services Tax) is a “single taxation” system which is expected to abolish all forms of indirect taxes on goods and services in India. Any individual, who is supplying, providing or consuming goods and services, has to pay GST.
It is collected at each stage of the supply chain on value-added goods and services. Once implemented, the manufacturers, wholesalers, retailers and consumers will have to pay the applicable GST rate. They can claim it back too, via tax credit mechanism.
GST is levied at the place where consumption of goods and services takes place. It can be char
Posted On Tuesday 2nd May 2017 12:39 PM
How can SMEs harness the digital wave to their advantage?
Issues discussed at the SME Centre Conference 2017 centred around how SMEs can utilize digital to transform the business and improve people and resource management.
Jointly organized by the SME Centres and supported by SPRING Singapore, the conference focused on how SMEs can transform their businesses to embrace today’s fast changing business climate,
Benefitting from the digital wave
Technology has many apparent benefits, from better organization and archiving of information and data, to automating and streamlining procedures and processes, which are highly beneficial with the looming labour shortage in Asia.
“Transformation isn’t easy. It is complicated and expensive,” said Arrif Zaiaudeen, CEO of The Chope Group Pte Ltd. “Many factors need to happen together for transformation to happen, and all of them won’t happen at the same time.”
When asked about the top two pieces of advice he can give, Zaiaudeen brought up perseverance and timing. ”Time it right so that all the right trends are coming in at the same time. Timing is everything.” he said.
Making the best of human resource management
With companies competing for the same talent pool, it appears that MNCs have an edge over SMEs with respect to brand awareness and job security. However, SMEs are able to individualize the career paths of their employees, providing more varied
Posted On Monday 1st May 2017 2:41 PM
Owner's Equity is rarely enough for running and growing a business. Every business owner thus aspires to make his or her business attractive for capital providers. Before approaching these capital providers, be they equity investors or lenders, it helps to do plenty of homework.
Capital providers undertake rigorous assessments of the business to ensure that their investment is protected. While there are a lot of commonalities in the criteria used by equity and debt providers, there are some aspects that one category focuses on more than the other. An equity provider will look less at liquidity and more at long-term growth prospects given the longer horizon. Strategic aspects of the business's product or service will also get more attention from equity investors. Debt providers meanwhile will have a hawk-eye focus on liquidity, short-medium term prospects, leverage levels, and promoter credibility. Let's look at the most critical aspects that a business owner needs focus on before approaching a lender.
To put it simply, any lender will focus on the '3 Cs': Character, Collateral, and Cash Flow.
Why is CIBIL so important?
CIBIL is a tangible proxy for the first 'C', Character.
Prior to 2006, lenders relied on their credit teams to perform detailed assessments of a business's creditworthiness. This was especially true for MSMEs, which typically did not have an independent credit rating.
CIBIL collects and maintains records of an individual's payments pertaining to loans and credit cards. Banks and NBFCs submit details to CIBIL on a monthly basis and these submissions are used to create Credit Information Reports (CIR) and credit scores. These scores are provided to credit institutions to help them evaluate credit w
Posted On Thursday 27th April 2017 11:41 AM
Start-ups and SMEs may feel under pressure, or confined by their workloads, especially a start-up which booms and needs to take action to rapidly expand in order to meet demand.
Having appropriately trained staff is a must but apprentices shouldn’t be brushed aside without thought. As it happens, the benefits of taking on an apprentice as an SME could outweigh the costs involved in taking on an experienced member of staff.
There are a number of ‘hidden’ benefits that apprentices can bring to an SME that a larger corporate organisation wouldn’t have the same experience of :
Grow your perfect employee from the start
It’s no secret that the best employees are individuals who believe in the business and the work they are carrying out. Bringing in an apprentice during the initial years of a business provides the opportunity to shape the person into the perfect employee for the company.
Within a larger organisation there’s a high possibility that an apprentice will simply get lost in the numbers, delegated to a line manager who is already dealing with existing employees.
A government survey this year revealed that three in four SMEs report seeing an increase in productivity and results as an outcome of taking on an apprentice. While many SME owners may view apprentices as a distraction requiring attention they can actually provide a much needed fresh opinion to a small business with limited points of view.
Digital natives plug the digital skills gap
The widely reported digital skills gap still exists, while measures have been taken to help close the chasm through training there’s stil
Posted On Wednesday 26th April 2017 2:19 PM
Units that begin their lives in the Micro, Small and Medium Enterprise (MSME) sector must want to grow up and leave the nursery one day. If they forever remain small that would defeat the purpose of supporting them in the first place. Yet most of them live and die trailing a toy truck without real ambitions to adult life.
This tendency is overlooked, even considered precious, because of the general belief that “small is beautiful". Consequently , instead of gaining in maturity and muscle tone, MSME share in the national economy is, in fact, declining.
Their contribution to total manufacture in this country fell from 42% in 2006 to 37.3% in 2013, and is slated to go down even further. During this period, importantly , MSME's addition to the total GDP also dropped from 7.7% to 7%.
At the same time, take a look at this paradox. In terms of the number of units, it is estimated that 18.7% more have been added to the MSME sector between 2014-15 and 2015-16. The number of employees in them too has shot up from 81 million to 117 million between 2006-07 to 2015-16.
But as unregistered micro units are roughly 13 times the number of registered ones, the average employment per enterprise is just about three persons, maybe lower. A higher admission rate, all right, but a persistently poor pass out grade! Obviously nobody wants to leave school, or come out of their baby clothes.
Instead of numbers rising in the higher classes, such as in the medium and small sector component, it is the micro industries that keep burgeoning and yet contrib
Posted On Monday 24th April 2017 12:20 PM
The micro, small and medium enterprises (MSME) employ more than 80 million people in India and contribute to around 40% of total exports and 37% of total GDP. Yet it is not easy for most of them to thrive owing to lack of funds, obsolete technology and poor production capacity. It is, therefore, not surprising that Indian small enterprises are unable to withstand global competition.
Small enterprises are known to support the vitality of markets by complementing large-scale industries, provide a large number of low-cost jobs (especially for low- or medium-skilled workers), create wealth by contributing appropriately to the GDP, and go on to become large enterprises in the future. With India needing to do significantly better in all these areas, it is imperative to build competitiveness in this sector.
Countries that have competitive small industries witness a high degree of innovation. For example, the US has had 50% of all innovations and 94% of all radical innovations—since the Second World War—coming from new and small firms. The number of patent applications, another indicator for innovation, validates this theory further. Small enterprises in China, which due to their low product prices have worried Indian MSMEs, file 80% of intellectual property applications in China, as compared to a mere 15% by Indian small enterprises in India.
Studies reveal that small enterprises which achieve better innovation performance also achieve better economic performance in the form of higher growth in sales turnover. The Global Innovation Index (GII) placed India at the 66th spot globally in 2016, and it can be safely assumed that building innovative capacities of small enterprises will go a long way in enabling India to leverage the full potential of its industries.
Posted On Friday 21st April 2017 12:51 PM
Marketing is incredibly important when it comes to running a business. Yet, when it comes to marketing, many small businesses make common mistakes that could easily be avoided with just a little bit of knowledge and expertise. Here, Rob Staathof, CEO of Liberis, highlights some common mistakes that should be avoided in order to increase the chances of success.
Expecting to get something out of the business without putting anything in
Many of small businesses start up expecting everything to work out right for them from the outset. Both effort and money need to be put into any new business whether that business is large or small. If the effort isn’t there then the results that they expect won’t be either. Making an effort to work should be a ‘given’ but if putting enough funds into the business is a struggle, then taking advantage of a merchant cash advance for SMEs is a viable option to aid in the quest for business success. With effort put into marketing the brand from the beginning, and money being funnelled in to achieve these goals, it will be much easier for a small business to be set apart from the rest.
Not knowing who to target and how to target them
Plenty of small businesses start with no marketing plan at all which is a major mistake. The best place to start is with a simple marketing plan, no matter how small. Breaking the whole market down into segments and then identifying the ideal area to target is a good start: then you can investigate the relevant ways to reach them. The aim of your marketing plan should be to highlight which strategies or t