PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Small Business Accelerator

By at 13 January, 2019, 9:59 am

Tips, Trends and Market Intelligence for Entrepreneurs

Here’s the latest roundup of helpful content from some of our favorite resources to boost the growth of your business, or to help you start a new one!

Trends in the Marketplace

6 Hot Trends Driving Business Growth in 2019, Bank Of America. “Consumers have rising expectations…so you’ll have to work hard to meet them.”

What to Expect in 2019: Consumer, Economic and Financial Trends, Small Business Daily. Mobile and digital payments, growth of ecommerce, data breach protection, focusing on customer loyalty – read why these trends continue to matter in 2019.

6 Top Retail Trends to Attract Shoppers in 2019, Bank of America. “The demise of retail has been greatly exaggerated, as the 2018 holiday shopping season proves: 2018 holiday sales soar to 6-year high…Over half (51 percent) of small business owners now have e-commerce sites, up 7 percentage points from 2017.”

These Maps Show How the Decline in the American Birth Rate Will Affect Each State, Fast Company. “The U.S. total fertility rate (TFR) has steadily declined over the last few decades, and on Thursday, the CDC announced it had hit a 30-year low in 2017. In fact, at the current birth rate, America will not be able to replace its current workforce. Overall, only two states witnessed rates above replacement level: South Dakota and Utah.”

Management and Operations

IRS Standard Mileage Rates for 2019 See Increase and a Major Change, Small Business Trends.

The standard mileage rates for 2019 have just been released by the IRS and small businesses will see both a jump in the mileage standard for business travel and another big change thanks to the Tax Cuts and Jobs Act.

Mileage Rates for 2019. The IRS mileage rates for 2019 for using a vehicle for business purposes are:

● 58 cents per mile for each business mile, up 3.5 cents from 54.5 cents for 2018;

● 20 cents per mile to cover moving or medical purposes, up 2 cents from 18 cents for 2018;

● 14 cents per mile driven for charitable organizations. This rate is set by statute and doesn’t vary.

Warning: “GDPR Extortion” Could Hurt Your Business. Here’s What to Do, Small Business Trends.  “Although this broad set of data regulations is designed to protect the privacy of citizens in the European Union, it will significantly affect US businesses as well. It will also likely lead to a new and costly cybercrime: ‘GDPR extortion.’ How will EU-based data regulations affect businesses in the US? What is GDPR extortion? How can businesses protect themselves?”

SCORE WEBINAR

How Can Small Businesses Comply with OSHA Standards

January 17, 2019 – 1:00 p.m. ET

Did you know that a safe and healthy workplace not only protects employees from injury and illness, but can lower costs, reduce absenteeism, boost morale and increase productivity and quality? How can your small business stay safe? OSHA can help!

The Occupational Safety and Health Administration (OSHA) assures safe and healthful working conditions for U.S. working men and women.  OSHA does this through setting and enforcing standards and by providing training, outreach, education and assistance.

This webinar presented by Timothy Irving, the Assistant Regional Administrator for Cooperative & State Programs at OSHA, will provide an overview of OSHA, employer requirements and critical resources for small businesses.

In this session, participants will learn:

● What is OSHA?

● OSHA requirements for small businesses

● OSHA’s no-cost, confidential On-Site Consultation Program

● How to show your commitment to safety and reduce costs

Register for FREE here.

Marketing and Branding

What is Brand Identity and How to Create a Great One: A Complete Guide for Marketers and Businesses (2019), CrowdSpring. “A brand identity is the most effective way any organization (startups, small businesses, agencies, nonprofits, or others) can gain a competitive edge in an increasingly crowded marketplace. Both new and existing businesses and organization can benefit from reading this guide.”

8 Marketing Trends to Know in the New Year, FundBox. “Despite some shakeouts, retail is still thriving, and some strong marketing trends stand out. How can your retail or wholesale business stay ahead of the game in 2019? Here are 8 trends you should know about.”

11 Eye-Catching Packaging Design Trends for 2019, CrowdSpring. “Packaging design (the packaging for your product) and package graphics design (the graphics/content on the product packaging) play an important role in your company’s brand identity.  It’s what consumers see, pick up, hold, and take home with them – it’s a literal and figurative touchpoint between your brand and your customers.”

Entrepreneurship and Startups

Gary Vaynerchuk: What Entrepreneurs Should Know Before Pitching in 2019, Forbes. “Do I think it’s a successful business? And if it’s not, the conversation ends there. But if I do believe in the business idea, I next ask myself whether I believe this person has the capability to drive the mission of the business. The last question is, if things go awry, is this founder also capable of adjusting to that reality and correcting the course?”

Is 2019 Your Year to Buy a Business, SCORE. “The sheer number of retiring baby boomers is a key factor in the booming market of businesses for sale, according to BizBuySell. Baby boomers still own most (53%) of the small businesses in the U.S., and nearly 60% of boomers plan to sell their businesses within the next two years or less (compared to just 32% of all current small business owners).

How to Start a Successful Clothing Line From Scratch: The Definitive Guide (2019), CrowdSpring. “If you are ready to start a fashion business (whether part-time or full-time), let’s get down to it. Here is a step-by-step comprehensive guide with our top 10 business tips for starting a successful clothing brand or clothing line from scratch.”

The Pros and Cons of Bootstrapping Startups, Forbes. “Bootstrapping a startup means starting lean and without the help of outside capital. It means continuing to fuel growth internally from cash flow produced by the business. Many sizable businesses started out bootstrapping. Some have just made it happen on their own.”

Crypto Startups are Fleeing the U.S. – This Bill is Trying To Stop Them, Forbes. “In February 2018, Switzerland declared that some ICOs are not securities, drawing applause from industry veterans. Today about 420 crypto and blockchain startups are domiciled there, according to research by PwC and Swiss blockchain investment firm CV VC. Although the U.S. population is 40 times larger, it has just 2,100 such startups, AngelList reports.”

Small Business Insider

SBE Council’s weekly “Small Business Insider” newsletter keeps entrepreneurs up-to-date on the latest trends, policy, and economic news impacting entrepreneurship and the growth of small businesses!  Sign up here.

 

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