PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Business Intelligence: Tips, Trends and Resources

By at 25 April, 2023, 1:16 pm

By Karen Kerrigan –

The economic outlook remains choppy, as retail sales declined for a second consecutive month in March and small businesses experience tightening credit. Business owners are buckling down, and the past week’s Business Intelligence provided ideas and resources to help entrepreneurs consider practical steps to take across operations to improve business performance. Below you will find additional content and upcoming events to help you navigate emerging trends and current headwinds.

Upping the Customer Experience via the Metaverse

The metaverse is coming, and as SBE Council chief economist Ray Keating points out in a blog post for the Metaverse Business Alliance “the metaverse can reboot or reinvent the consumer experience.” Immersive technologies are increasingly being deployed by businesses and Keating reviews current uses that are improving customer experiences and building brands.

SAVE THE DATE: May 3 – 1:00 p.m. ET

Metaverse 101 and the Small Business, Startup Ecosystem

Emerging Opportunities and Trends, Preparing for the Internet’s Next Stage

This virtual event will cover key data and activity regarding the foundational buildout and emergence of the metaverse; how immersive technologies are currently being used in workforce training, education, marketing and other sectors; and the opportunities across sectors for creators, entrepreneurs and small businesses in a Web3 world. Confirmed speakers (to date) include:

● Matt Abeles, Vice President, Construction Technology and Innovation, Associated Builders and Contractors

● Mike Cadoux, Managing Director, QReal

● Raymond Keating, Chief Economist, SBE Council

Moderated by SBE Council president & Metaverse Business Alliance Founder Karen Kerrigan.

Thinking Technology, Media and Telcom in the Metaverse

In a blog post for the Metaverse Business Alliance, SBE Council chief economist Ray Keating reviews findings from a KPMG survey of technology, media and telecommunications (TMT) executives. There are ideas and trends that small business owners should be following and pondering.

Recession Proof Your Small Business: Crowdspring Resources

Sticking to the fundamentals and staying real close to your customers are especially important when discretionary purchases get squeezed out by the necessities, and consumers pull back on spending generally. CrowdSpring has some great content pieces offering practical and actionable advice.

● Customer Retention: 9 Strategies that Will Keep Your Business Growing

● Sales and Marketing: 10 Ways to Drive Traffic to Your Small Business Website

● Don’t be a Digital Denier: 40 Small Business Marketing Statistics and Trends in 2023 (and most of them focus on the importance of having a digital presence!)

● Differentiate: Unique Value Proposition (UVP) – What It Is, Why It’s Important, How to Create a UVP, and 10 Examples

● Upping Your DTC Game: Director to Consumer Marketing – The Complete Guide…with Strategies, Tactics and Examples.

Amazon’s Virtual Small Business Summit

Register for Amazon’s free virtual Small Business Summit

● Discover solutions that address key challenges of the solopreneur and small business in the current economic environment

● Learn from experts and seasoned industry professionals from a variety of industries

● Get easy-to implement, actionable insights to grow your business

Learn more or register here.

Small Business Facts: Immigrant Employer Ownership

The SBA Office of Advocacy recently published an analysis of the increasing percentage of immigrants who become business owners with employees. As they note in the introduction:Immigrant employer ownership increased from 15.08 percent in 2012 to 19.03 percent in 2020. At the same time, the share of foreign-born workers increased from 7.29 percent to 8.6 percent. For most business owner demographic categories, the share of immigrant employers is higher than the share of U.S.-born employers.”

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

 

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