According to the Chamber of Commerce, did you know that as of 2018, over 30.2 million small businesses are operating in the United States? Only 80% of these small businesses survive during their first year. By the time they reach the end of their second year, only 70% of these businesses survive. The number continues to
It’s not a stretch to say that the coronavirus pandemic drastically changed the business landscape and these changes will persist for a long time. Some of the things that have changed are the way you market your goods and services as well as how to engage customers with your business. With the pandemic instilling the
Small business owners may be tempted to use their own bank account to manage their business’ finances, but things can get complicated once the business starts earning excess capital. In this case, it’s necessary to open a business savings account. Here’s everything there is to know about them. What is a business savings account? A
Remote worker. Home-based employee. Outsourced contractor. Call it what you want, the common denominator these workers have is that they are not required to report to your physical office. The COVID-19 pandemic and its resulting lockdowns pushed many businesses to embrace this dynamic, prompting many experts to believe that this is the future of work.
COVID-19 continues to threaten businesses all over the world. Although many would prefer to stay at home, some jobs just cannot be done remotely. Some companies need to continue operations or risk shutting down and firing their staff. Small businesses and startups are especially vulnerable to this scenario. Aside from the practices suggested by the
The COVID-19 pandemic has made it more necessary for businesses of all sizes to embrace technology. Due to stay-at-home orders and social distancing measures, more people are shopping online or going contactless with their transactions; therefore, if your business is not equipped with technology, you could be missing out. If you do have the technology,
Many global brands came from a very small operation, with some even starting from an old garage. Microsoft and Amazon are good examples of such companies that seemed destined for failure but were pole-vaulted to success by a single decision. That pivotal point is often related to technology—business leverage that has changed the course of
Excavators, skid steers, loaders, lifts, power supplies, trucks, and other equipment are essential to any business. But like any resource or department, they can be streamlined for maximum versatility and efficiency. As the company pores over the balance sheets, it pays to explore and compare the costs of buying and owning equipment against leasing or
Small businesses are always on the lookout for a competitive edge. One effective method is to be more efficient than the competition. If you use your current resources to the best of your ability, you can expect larger profit margins as you do more with less. Here are some things that you can do to
A capital is only the tip of the iceberg in starting a business. You need a solid business plan, where each of your goals is outlined, as well as your market, products, etc. But it doesn’t end there, either. Opening a business requires more work than that, and it will involve different professionals. As the