Category: Business Management

5 Ways to Ensure a Brighter Business Future in 2021

With the spread of Covid-19 (novel coronavirus) throughout 2020, this year became a difficult year for business worldwide. Forced quarantine saw people staying home as frequently as possible. This translated into many non-essential businesses being forced to either severely limit opening hours or to close altogether as infections spread. Businesses left standing can count themselves

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How to Conduct a Small Business SWOT Analysis

Small business owners tend to view their businesses very tactically. Taking an objective view of your business from both an internal and external perspective can uncover a host of opportunities while highlighting potential threats. A SWOT analysis can help you evaluate your small business and the surrounding business environment that can affect its overall success.

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50 QR Code Uses for Marketing and Business

Not sure what to use a QR code for in business? Or perhaps you just want more examples for using QR codes in your next marketing campaign? Whatever your purpose, our list of 50 creative ways to use QR codes is sure to trigger ideas to boost brand awareness, attract an audience, close more sales,

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How Your Small Business Can Take Down Goliath

You think it’s hard getting to the top? Try staying there. The accelerated churn rate of the S&P 500 indicates that at least half of today’s top U.S. companies will get replaced by someone new over the next decade. That is a mind-boggling market value of $13.5 trillion up for grabs. And the craziest part

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The True Failure Rate of Small Businesses

Have you heard that 90 percent of new businesses fail? Or that 50 percent of new businesses fail? Stick around in the entrepreneurial community long enough and you’ll likely hear a wide spectrum of claims, mostly falling between these two extremes. But what is the true failure rate of small businesses? And should it influence

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Service Bundling Strategy – 7 Benefits for Your Small Business

A service bundling strategy is a marketing tactic that involves offering multiple, complementary services as a package for a single price. You may wish to include other options in your packages such as information products or access via email or phone for questions to increase the value to the client. Usually the price is a

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America’s two-track economy: the small business credit crunch

Over the past three decades, Kim Peacock and her husband Don Milroy built up a modest but respectable nut business based in Arlington, Texas. In March, 31 years of toil nearly unravelled in a matter of weeks. The producer and retailer’s biggest customer was American Airlines’ Fort Worth hub. Every year GNS Foods supplied the

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15 Trends That Are Expected To Drive Small Business In 2021

To say that Covid-19 has been a game-changer for small businesses in the United States would be an understatement. Facing financial constraints and other limitations imposed by the pandemic, many small businesses have had to come up with creative solutions to maintain a steady stream of revenue. The pandemic hasn’t subsided yet, and it is

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How to Prepare Your Business For Economic Downturn

Covid has had a devastating impact on the entire economy. Before this pandemic, economists were warning of a possible recession in 2021. Despite this, many business owners were still taken unaware and remain concerned with how to keep their doors open. Unfortunately, it looks as if we will be struggling with these economic problems for

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Business Loan Approval Rates Drop by 50% in the Last Year

Small business loan approvals at big banks are down by 50% compared to last year’s figures according to data from Biz2Credit Small Business Lending Index. Loan approvals from big banks with more than $10 billion in assets were 13.2% in November this year compared to 28.1% from the same period. Loan approvals from big banks

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Know Which 2020 IRS Form to Use if You Paid Independent Contractors?

Beginning with the 2020 tax year, Form 1099-NEC will replace Form 1099-MISC box 7 for reporting non-employee compensation, which includes payments to ICs. To put it simply, the new 1099-NEC performs the exact same function as 1099-MISC box 7. It captures payments of $600 or more to service providers that are either sole proprietors or

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