PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Business Intelligence: Tips, Trends and Resources for Entrepreneurs

By at 18 December, 2020, 1:24 pm

By Karen Kerrigan-

Here’s this week’s roundup of excellent content, upcoming events and solid tips from the experts to help your startup or small business thrive in the COVID-19 economy.

Trends in the Marketplace and Beyond

Americans Starting Businesses at Record Pace, Small Business Trends.  “New figures from a study by LendingTree indicate the number of new business applications across America in 2020 has surpassed the figure from the previous year’s total by mid-October. New business applications reached over 3.4 million new applications in 2020 up from last year’s 3.4 million figure. Even with the nation experiencing the worst economy since the Great Depression, new business applications have surpassed 2019’s figures.”

Americans are Moving Out of Dense, Costly Cities, Axios.  “A new survey indicates as many as 23 million Americans — more than 10% of the adult population — are planning to move as a result of remote work, mostly to cheaper and less dense places.”

Consumer Trends December 2020, SCORE/Small Biz Daily. Consumer trends bring opportunities for small businesses. While health is important consumers are focused on health, affordability and social values. They are more open to trying new stores and brand – 73% have tried a new shopping behavior.” See the infographic here.

RIEVA’s TRENDCAST: The ‘Color of the Year’ Promises a Brighter Tomorrow, Small Biz Daily/SBE Council. “For next year PANTONE has decided one is not enough. There are two ‘colors-of-the-year’ for 2021— Ultimate Gray (PANTONE 17-5104) and Illuminating (PANTONE 13-0647), colors that might, at first, appear to be at odds…PANTONE says the two hues ‘encapsulate deeper feelings of thoughtfulness with the promise of something sunny and friendly.’”

SCORE Webinar: 2021’s Hottest Businesses, Markets & Trends

January 7, 2021 – 1:00 p.m. ET

We all know 2020 was not a typical year for small businesses, and the factors that impacted us this year will continue to affect us in 2021.

But, while we’re still facing a lot of unknowns, there are some things we do know. And we’ll discuss them in this webinar.

Join this timely webinar, presented by small business expert and best-selling author Rieva Lesonsky, where you’ll learn about the breakthrough small business ideas and industries that are breaking through and reaching consumers. You’ll find out about America’s changing demographics, attitudes, and consumer behaviors, and how your small business can best adapt and address them, such as:

● The industry that’s soaring right now and how small retailers can take advantage.

● How restaurants can transform their operations.

● Which consumer behaviors have shifted, and how you can reach those customers.

● How COVID-19 has created entrepreneurial opportunities.

● How to pivot your small business to address changing consumer demands.

● Whether you’re a startup entrepreneur or have owned your business for years, you’ll want to learn how you can adjust to and take advantage of today’s changing marketplace.

Learn more or register for free here.

What Does Partnerships and LLC Status Mean from a Tax Statistics Perspective?, Big Ideas for Small Business. “As in the case of sole proprietorships, tax statistics show that the number of partnerships (including limited liability companies that file tax returns as partnerships) is…or at least was…on the rise. For 2018 (the most recent year for statistics), there were 4,010,200 million partnerships (2.7% more than in 2017), representing nearly 27.5 million partners. They allocated over $1.7 trillion to their partners in 2018.” Read some other interesting tax-related information about these filers here.

Sales and Marketing

How to Market Your Business During COVID-19, Small Biz Daily.

“If you are still wondering how to make your small business successful during these challenging times, consider following these approaches to help set your small business up for success in near future.”

Logo Design Trends 2021: Your Essential Guide to Navigating the Biggest and Hottest Trends, CrowdSpring.

“What was hot in logo design trends for 2020 may still be hot in 2021 logo design. But, we’re seeing new trends emerge as we approach the new year and you should be aware of them. But, how do you tell the difference between good and bad trends?…We’ve compiled the logo design trends that we think are poised to best serve logo design in 2021 – as well as the trends you should avoid.”

6 Keys to Enchanting Customers with Your Service, Startup Professionals.

“A culture of providing great customer experiences doesn’t happen by chance, and it requires more than just excellent operational procedures. Surprising and delighting customers as the new norm requires a backdrop of strong leadership, deliberate planning, and integrity in execution. It requires brand-building at its best.”

5 Keys to Ensuring Credibility, Trust, and Customers, Startup Professionals.

“Today’s digitally distracted consumer is led to trust only things that they see with their own eyes, senses, so they can render their own judgement. They want the raw data versus a polished message…This distrust for the scripted message has led to a new demand for unfiltered marketing, and the emergence of business credibility heroes..”

The 7 Biggest Packaging Design Trends for 2021, CrowdSpring.

“The Covid-19 pandemic has had a huge impact on packaging design and the packaging industry. And, your packaging is not just a selling tool that helps you build a strong brand identity for your business.”

Operations and Management

Data Surveillance During Remote Work Leaves Businesses Vulnerable, Small Business Trends.

“Remote work has enabled businesses to weather the storm of the pandemic and adapt to new work environments while keeping business going. Yet, with employees now working remotely, the line between personal and professional data has been blurred and that comes with significant risk.”

7 Ways Successful Companies Stimulate Team Creativity, Startup Professionals.

“In my experience, continuous creativity in business is the ultimate competitive advantage, and a lack of it is the quickest path to failure. You must build and sustain a team culture that does not tolerate standing still as the customer world around you moves on.”

Income Tax Brackets for 2020 and 2021, Small Business Trends.

“Finding the tax bracket that applies to you depends on two pieces of information. First you must determine your filing status: individual, married filing jointly, married filing separately, and head of household. Second, it depends on your taxable income…This article covers rates for tax returns for 2020 income (for returns due in 2021). Tax brackets and rates for 2021 (for returns due in 2022) are also included.”

SCORE Webinar: Disaster Preparedness for Small Businesses

December 29, 2020 – 1:00 p.m. ET

It’s not a question of if, but when the next disaster will strike. Is your business prepared for the next major disaster event?

This webinar, presented by Alex Contreras, Director of Preparedness, Communication and Coordination at SBA’s Office of Disaster Assistance, will provide the key steps to prepare and recover from disasters so that your business is resilient.

Register for Free or learn more here.

Karen Kerrigan is president & CEO of the Small Business & Entrepreneurship Council.

 

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