If you own a small business in these challenging economic times, you know all about the value of a dollar and making ends meet in any way possible.
Yes, large corporations like Walmart have come into small towns across America, but there is still room for a small business to thrive. However, you must be willing to work hard and think outside the box.
• Advertising – Ok, so a fancy television commercial might be out of the question, but there are other ways to get your small business noticed. If you’re selling sportswear or jerseys, sports talk radio is a great way for people to hear about you. Many smaller companies have gone to social media outlets and created a following of their customers. For restaurants and food establishments, Facebook and Twitter can be enormous advertising tools. Got a great special? Tell your customers all about it by posting on Facebook. Cash advance lenders can be a great benefit to help offset your costs of advertising.
• First timers ask for advice – According to the U.S. Census Bureau, over 60 percent of small businesses are started by first time owners. If it’s possible, find other small business owners that are making a go of it and ask questions. Getting help from those with experience can help you avoid some of the mistakes that others have learned from.
• Take advantage of tax-breaks that the government offers. Uncle Sam understands that a lot of new business owners lose money during their first few years. It’s expected and it’s understandable. Take advantage of the tax breaks that are available and keep impeccable receipts so tax time can be your friend.