Running a small business can be a difficult undertaking luckily there are a number of ways you can receive help that you may not even have to worry about paying back. The government offers a number of grants to small businesses to do a variety of things in order to increase the chances of that small business succeeding. The first thing to do is check and see if you qualify for any grants. One of the ways to do this is to check with the chamber of commerce or the better business bureau.
The recent sub-prime mortgage crisis and the interlinked subsequent turmoil in the financial markets has generated many concerns in businesses and the general outlook on the economy. The question we want to answer is: will it affect small businesses?
There is no easy answer to this question. But let’s examine the different drivers at play.
On one hand, we have a mortgage market that’s become a lot tighter. This will make it increasingly harder for people to get mortgages. Traditionally, borrowing against your home has been one of the most common ways of funding a new businesses (according to a survey conducted by the Federation of Small Business 25% of start ups use bank loans as their main source of funding, while 49% use bank overdrafts). So these facts would indicate that the credit crunch will have a knock-on effect on small businesses by affecting entrepreneurs’ ability to raise funding.
Most home and small businesses rely on classified advertisements to market their services and products. Getting good results with a classified ad isn't as simple as it seems. There is more to it than just writing two or three lines of copy and placing it in the local shopping digest or weekly newspaper. A well-written ad in the wrong publication or under a wrong headline or a poorly written ad in the right publication will not get you the desired results.
As a small business owner, you realize the value of having live, able customers stepping through your door everyday. It’s a simple question of math and conversion that those potential buyers become good profitable customers. However, you may be one of the many small businesses feeling short changed in that regard. Have you ever noticed some of the other small businesses in your area always seem to have enough of these types of customers? Some may in fact be busting out a good business.