PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Small Business Accelerator: Tips & Trends News Highlights

By at 19 August, 2017, 10:39 am

The past week’s roundup of “How To” articles, educational resources and future events, business news and success stories recommended by SBE Council President & CEO Karen Kerrigan.

Current Events and Key Data

U.S. Business Sectors Gain or Hold Steady in Public Esteem, Gallup. “…a majority of Americans rate nine business sectors positively this year — the most in any year since 2003. This year’s majority-pleasing sectors include the computer, restaurant, farming and agriculture, internet, grocery, automobile, real estate, and retail industries, as well as the field of education.”

The Business Fallout from Charlottesville, Knowledge @Wharton. “The events surrounding the Charlottesville march have illuminated the problem of forcing a business paradigm on government, Reed said. It should serve as an example to Trump that he needs to find a different leadership style if he wants stakeholders to work with him.”

Good Numbers on Retails Sales for July, SBE Council. “It’s worth noting that compared to a year earlier, July retail sales were up by 4.2 percent. That’s a pretty solid increase.”

42% of Young Small Businesses Use Contract Workers, Small Biz Labs. “This is interesting because the median number of traditional full and part-time employees at startup firms is also three. This means contract workers are possibly about half the workforce at young small businesses.”

Consumer and Marketplace Trends

Why Renters are Making Big Moves Across the Country, NAWRB.  “A new Apartment List survey of 24,000 renters across the U.S. reveals that the majority of renters plan to relocate to and settle down in cities where they don’t currently live, with the exception of Sunbelt renters, who are more likely to settle down where they presently reside.”

5 Tech Trends Every Small Business Needs to Follow, Small Biz Lady. “There is absolutely no doubt that the next five years or so will bring big changes in technological trends that will shape the way people buy and sell, and subsequently, how and where entrepreneurs do business.”

Trucking to Taxis: How We’ll Become Driverless, University of Maryland- Smith School of Business. “The ripples will reach insurance companies and the medical industry, Lucas says. ‘There will likely be fewer cars to insure,’ and subsequently fewer accidents and injuries and lower insurance costs. ‘Mechanically, there is less to go wrong with an electric as opposed to internal combustion engine,’ he adds. The auto supply and repair industries, he says, will shrink with demand for their products and services.”

Poll: Voters Trust Local News Outlets More Than Local Ones, Morning Consult. “’Local news is at the heart of American communities,’ Epshteyn said in an email Thursday. ‘Viewers trust their local news sources because their content serves their communities.’”

Tech Job Moving to the Midwest, Small Biz Labs. “Although lower cost U.S. cities are more expensive than outsourcing overseas, rising salaries and costs overseas is making outsourcing there less of a bargain. Meanwhile, locating in the U.S. has a number of advantages.”

Webinars and Events

Regional Food Systems: Driving Entrepreneurship and Small Business Development

September 14, 3:00 p.m.-4:00 p.m. ET

Sponsored by The Federal Reserve System

Join this free Connecting Communities® webinar to explore using regional food system investments to drive entrepreneurial activity and small-business development. Speakers will discuss technical support that can be provided to entrepreneurs, as well as creative tools for financing regional food enterprises.  Register here.

Marketing, Branding and Sales

Will Subscription Services Change the Way We Shop?, University of Maryland-Smith School of Business. “Soon, it might be that your favorite place to shop is in your mailbox. At least, that’s the idea behind the growing crop of online styling and fashion subscription services.”

Top 20 Retail Promotion Ideas From the Pros, Fit Small Business. “Retail businesses are having to step up their promotional game in order to compete with their digital brethren, but thankfully there are many ways to spread the word about your storefront in ways that only a physical location can.”

6 Pragmatic Marketing Tips to Ramp-Up Your Business, Start Up Professionals. “You can have the best technology, but if customers don’t know you exist, or they don’t know how your technology solves a real problem for them, your startup will fail. Yet I see many technology entrepreneurs that focus on the basics of marketing too little and too late.”

Clever Marketing Tactics for Explosive Franchise Growth, All Top Startups. “Marketing a franchise is a little different to marketing for a standard company. Not only do you have to get your message out to the consumer, but you also need to work on expanding your franchise and brand…”

10 Things Savvy Online Marketers Do to Get Web Traffic, SBA/Small Biz Trends. “Today there are 1.2 billion websites — or one website for every seven people in the world! That’s a lot of competition. If you want to get traffic to your website, you’re going to have to take the right steps.”

Operations, Management and Growth 

Frequently Asked Questions: Copyright Basics, WIPO. “What is copyright and what can be protected using copyright.” These questions and many more are answered regarding protecting your IP.

Is Your Small Business Ready to Defend Against a Data Breach?, Markets Insider. “Small Business Owners (SBOs) especially should take note of any vulnerabilities that could leave a trail of irrevocable damage and potentially sink their business.” Here are five ways to strengthen your information security.”

5 Mistakes First-Time Small Business Owners Make and How to Avoid Them, Small Biz Daily. “Unfortunately, it is a fact that despite all the preparations, all the knowledge and skills new business owners bring to the table, there are still mistakes they unwittingly commit that make it difficult for them to achieve their goals.”

Bring Simplicity to Your Small Business, SBE Council/Susan Solovic. “Being a small business owner means you have to wear many hats, and it’s likely that most of your employees are juggling multiple roles as well. While a lot of this is inevitable, there are ways that you and your team can make this three-ring circus act a lot simpler.”

The Path to Entrepreneurship, and Inspiration

These Millennials Spend Their Days on the Beach and Still Make Money. Here’s How, CNBC. “Sarafa is a software consultant who has worked with various firms and has lived in Bali for the last two years. ‘Most people don’t understand that I can wake up, open my computer and have a full day’s work from anywhere in the world,’ Sarafa said. He is part of a growing movement, called ‘digital nomads,’ driven by millennial entrepreneurs, designers and developers.”

The Rebranding of the Bronx, New York Times. “Flash-forward three decades, and this once-shattered swath of New York’s northernmost borough has undergone an image transplant. Neighborhoods like Mott Haven, Port Morris and Melrose are still poor and plagued by various urban ills. But no mistake: The South Bronx, the area that gave rise to hip-hop, is being celebrated — some would say appropriated — by a clutch of entrepreneurs, real estate developers and, inevitably, the fashion tribes.”

From the Flea Market to the Stock Market, Young Upstarts.  “My [Bill Green’s] humble background is why I’ll always have a soft spot in my heart for feisty entrepreneurs. Forty years ago I was there. I was a small business owner who had a great idea that I brought to life.”  Starting at a Flea Market, Green eventually sold his business to Home Depot for $1.8 billion.

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