The SBA defines a small business as an enterprise having fewer than 500 employees.
If you're like us, you're looking around your area, noticing what companies are nearby, and wondering how many of them have more than 500 employees. Truthfully? It's not many. In fact, an outrageous 99.7% of all businesses are "small" businesses, with less than 500 employees, and about 90% have less than 20 employees.
image courtesy of BeLengendary.org
Less than 20! But small businesses are a force to be reckoned with. They account for around 60% of new jobs and nearly half the total private sector payroll in this country.
Being a small business ourselves, we understand the challenges business owners face, and we understand the risks.
While some may assume that all business owners are wealthy, we understand that it's not always the case. In fact, almost a quarter of businesses with employees operate primarily from someone's home.
It takes courage to start a new business. And a lot of hard work.
Business owners typically assume risks that many others don't even consider. Risks such as:
Lawsuits: Having a business with employees opens you up to lawsuits for such events as accidents involving customers, wrongful termination, workers compensation, libel, and others.
Death or Disability: Many businesses depend on the owner to run properly. If the owner unexpectedly dies or faces disability, the business can end up in serious trouble. If a key employee becomes very ill, day-to-day operations can be seriously damaged.
Operational Problems: Broken equipment, theft, a natural disaster or a car accident can also have a big impact on a small business. If supplies suddenly decrease in quality or a supplier goes out of business, what will your business do? Even road construction in front of your office or store can have a major impact on the bottom line.
Reputation: A nasty competitor, unruly employee or a few unhappy customers can cause a big damage to your business reputation. It can be really difficult for a business to recover from bad press.
Long-Term Surviveability: Only about half of new businesses survive more than 5 years, proof positive that running a successful business is a tough job. If you're depending on your business for a livable income, it's imperative that business survive.
And there are plenty of other risks, like credit, regulatory changes, and security, just to name a few.
But the risks are worth the rewards, at least to the local economy.
One of our favorite pluses about small businesses is that they create great opportunities for careers and often for career growth, development and education as well. In fact, we were thrilled to learn that our own backyard is one of the best places in the country for career minded people. This recent study by Smart Asset listed 3 Utah cities in the top 4 best cities for career opportunities.
image courtesy of SmartAsset.com
And we happen to agree. In fact, Salt Lake City has been a great place for us to call home for several years now, and we love being part of this rich and generous community.
Job creation is one of the greatest assets small businesses provide to the economy. Unemployment rates affect the economy in ways that are often hard to measure. Each person who loses their job is a person who can't purchase in local stores, pay taxes, save or borrow. They are more likely to lose their homes or go bankrupt.
Not only can a person who is employed benefit the economy with purchases and taxes, but the job they perform is a service to the community. Every community needs reputable plumbers, contractors, attorneys and dentists. We all appreciate clean and organized stores, quality restaurants, and specialty products. More jobs mean more great products and services for everyone.
"Helping Businesses to Succeed Online" is not just a tag phrase to us. We truly strive to help small businesses have the best opportunity for greatness. When one small business succeeds, we all benefit.
Marketing, especially online marketing, is critical for almost all businesses. In years past, a listing in the yellow pages may have been enough, but these days almost no one uses the yellow pages. Most people just pull out their smart phone and search for what they are looking for on Google.
In fact, around 85% of searches for products or services are done online. Online purchasing is becoming increasingly popular, with around 24% of people making 1 or more online purchases a week.
And searches made on smartphones are becoming more and more relevant. It's estimated that 90% of American adults own a cell phone. Google reports that more searches are made with mobile devices than computers.
Image courtesy of MarketingProfs.com and Bronto Software
Even if you don't sell products online, having a reputable online presence is necessary in today's world. People will look at your website an average of 6 times during the buying process to do research. It's important to make a good first impression.
Here at Be Locally SEO, we have been thrilled to help hundreds of small businesses improve their circumstances with online marketing. (Just take a look at our case studies for some examples!)
Online marketing can help improve your business in plenty of ways, but here are a few highlights:
61% of people will research products online.
Good, optimized websites allow them to find your products
or services when they are looking.
50% of local searches are performed on directories and apps,
rather than in search engines. Our SEO services make sure your
information is correct and professional in popular directories.
B2B companies that blog generate 67% more leads per month
than those that don't. Our content marketing packages give
you regularly posted, professionally-written blog posts.
80% of users prefer to connect with companies on Facebook.
Be sure your social media accounts are useful and professional
with our social media marketing services.
E-mail newsletters are rated the most effective way to distribute content.
Our talented team can produce and distribute your newsletter.
Businesses make, on average, $2 in revenue for every $1 they spend on AdWords.
Be Locally SEO is a Google AdWords partner, and we are experts
at helping you succeed with pay-per-click ads.
We only succeed if you do. In fact, when the businesses in our area succeed, our whole community is better for it.
Running a business is never easy. We get that. We want to make it a little easier for you by handling the marketing in a way that gives you the greatest chance for success.
Because your success is why we do what we do.
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