Oftentimes smaller businesses don't have the arsenal of marketing and advertising tools as the larger companies or corporations but gone are the days when you need a huge budget dedicated to marketing and advertising your brand. Social media platforms like LinkedIn allow small business owners to market themselves from zero to very little capital to get noticed; thank goodness for advanced technology!
No matter the business, it can be a daunting task to compete with larger and more prominent companies. Sure, you hear there is room to grow or there are enough opportunities to go around. However, establishing your services, goods, and products as worthy as the next guy can be tricky and take time and effort. It leads business owners to believe that this landscape is simply not one they can navigate, conquer or sustain.
According to a FACT SHEET provided by the Biden-Harris Administration, in 2021, Americans applied to start 5.4 million new businesses—more than 20 percent higher than any previous year on record. Small businesses are the veins that run through the heart of America's economy. It's the small businesses that allow individuals without formal education to participate in living in an America that offers all the opportunities one can dream of imaginable. Or maybe even for that college kid coming home for the summer to earn and pocket some extra cash.
Let's look at this from a business standpoint. Sometimes, the needs for services, goods, and products provided, the smaller businesses are willing, and frequently, are more capable of tackling than their bigger counterparts are willing to do. Small businesses can provide that 1:1 customer service that you won't often get with bigger businesses. They can also offer a panoramic view of what's to come. So what are the benefits of investing in small businesses?
Job Creation
Local Economic Revitalization
Transition small businesses to bigger businesses
Modernization
This list can go on and on, but the bottom line is that investing in small businesses means empowering both the business owner and the customer. So, before calling that 1-800 number, try reaching out to your local area code and be surprised by the good you find on the other end.
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DOX & Associates, LLC is a small business public relations consulting firm.
Resources to start a new business:
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