3 Tactics YOU Can Implement From The 2022 National Small Business Week

3 Tactics YOU Can Implement From The 2022 National Small Business Week

The United States of America (US) consists of small businesses that serve as economic drivers. Collectively they are reported to employ most Americans. Indeed, we need small businesses to thrive.

The US government passed legislation that infused funds into the business world like the Paycheck Protection Program, Targeted EIDL Advance, COVID-19 Economic Injury Disaster Loan (EIDL) and Restaurant Revitalization Fund. Banks, CDFIs and other lending companies offered loans like term, line of credit, invoice factoring and financing, commercial real estate, microloans, merchant cash advances and franchise.

One saying is it takes money to make money. The pandemic has amplified the above and the reality that it takes money to stay in business. Business capital or the lack thereof has a profound effect on companies reaching their goals.

Below are a few topics discussed during the national small business week:

Your small business is a movement. Whether a business sells a service or product, your efforts add to the US’s gross domestic product. To add, customers look for companies that support causes. Increasingly, business owners add community development to their culture. Will you?

Operate your business exceedingly. Every dollar (or penny) counts. Implement systems like profitability analysis and accounting. Develop measurements like working capital, break-even point and profit margin. Consider partnering year-round with professionals like a Certified Public Accountant and Certified Bookkeeper.

Understand the environments where you operate. Are you familiar with the saying read the room? This phrase recommends processing the attitudes and opinions of a group of people you are talking to (Cambridge English Dictionary). Identify the group of people as your clientele. Provide your clients with solutions they want and need. Marketing is a tool you can use to build your brand identity.

Most business owners want solutions like increasing revenues, reduced costs and easier or faster business and accounting processes. Let’s get started with my $600 business strategy partner special. This special pricing is valid until 6/30/2022. Contact Pierce, CPA & Advisors at (205) 370-4508 or welisten@AuthenticCPA.com today. Best wishes!

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