Jim Carroll is Vice President, Small Business for the Hampton Roads Chamber and Executive Director of the Small Business Development Center of Hampton Roads, Inc.
Now that 2020 is in our rearview mirror and now, with the start of the New Year, it appears that things will slowly, yet gradually, improve. Small business owners need to look forward and plan ahead for their future operations in the upcoming year. While many aspects of business practices have changed and, in some instances rather dramatically, there are two constants on which you must rely; the need for information and the need to communicate.
The Small Business Development Center of Hampton Roads (SBDC) has received a $40,000 grant from Truist Financial Corporation. These funds will support the Center's activities in helping small business owners gain access to capital during the coronavirus pandemic. The grant is part of the financial services company's Truist Cares initiative, a $25 million philanthropic pledge announced in March to support basic needs, medical supplies and financial hardship relief due to COVID-19.
They seem to be popping up everywhere, in magazines, store displays and, for more intrepid and unconventional marketers, even on bodies. What is this latest marketing device; Quick Response (QR) Codes. The ubiquitous squares that enable companies to provide a wide-range of information about the products or services they are selling.
I recently had the privilege of being part of a group of regional businessmen and women selected to attend a series of discussions on economic development and job creation with administration officials from the White House Business Council. This program was sponsored by Business Forward, a national organization whose mission is to bring business leaders into the policy making process.
Did you know that $100 spent in the local business community will keep approximately $56 to $73 in the local economy where the same amount of money spent in non-locally owned businesses only keeps between $16 to $43 dollars in the community?
How many times have we said or heard the expression: “Tell me a story.” Starting at an early age and onward, the story process is the same, only the topics change as we get older.
The monster tornado that recently paralyzed the city of Joplin, Missouri, as well as hurricane season being upon us, should serve as a wake-up call for all small business owners to review their business continuity plan.
Congratulations, you are the owner of a small business. Every day you hear the President and other elected officials extol your virtues and state that, if it were not for you, the economy could never recover. Makes you feel great, doesn’t it. No pressure or performance anxiety here.
For many small retailers, the weeks between Black Friday and Christmas Eve are going to be the most critical they’ve faced so far. For some, it will be the difference between a profitable year, a failed year, or an end-of-the-business year.
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