Statistics show that there are around 30.7 million small businesses in the USA, and that these provide approximately 64% of the new jobs created across the country.
Because of the innovations in the world of commerce in recent years, it’s easier than ever to succeed as a small business owner. However, unless you stay up to date on the newest business products and services, you’ll find it impossible to compete.
Using the newest small business ideas to your advantage is a surefire way to stay at the top of your game, especially during the coronavirus pandemic.
Read on to learn about our five favorite modernizations for small business.
- Online Marketing
Marketing might be the area in which the most has changed in the last number of years. While television, radio, and newspaper were the mainstream avenues for advertisement until recently, the world of marketing has rapidly moved online in the last few years.
In order to succeed as a small business nowadays, you should invest time and effort in your approach to SEO, content marketing, and social media advertising. The good news about these is that they are very cost-effective, and even free in a lot of cases.
- Document Generation
If you work in an area that requires the production and management of a lot of paper documentation, you’ll know just how arduous it can be at times. Luckily, technological innovation has created many different solutions to this problem.
Document generation software can help you to produce, file, and transfer many important documents.
- Employee Communication
For the small businesses that have had to adopt remote working practices because of the movement restrictions that have come with the COVID-19 pandemic, maintaining proper communication may be a challenge. However, it doesn’t have to be.
Innovative online communication solutions like Zoom and Slack have made workplace communication more efficient than ever.
- Payment Methods
The days of cash payment are quickly coming to an end. Hygiene concerns related to COVID-19 have been a factor, but more convenient online payment methods like TransferWise and Revolut have been growing for some time now.
Using one of these will help to streamline your payment processes.
- Accounting Software
If you’re going to be making payments online, it makes sense that you should record them online too. Most modern businesses have taken their accounting online, making storage, maintenance, and transfer of accounts much more convenient.
Making the Best of Your Small Business in 2020
Succeeding as a small business owner can be difficult at the best of times. The COVID-19 pandemic has made it more challenging than ever for some businesses; however, it has also provided a lot of opportunities, especially for those businesses with a strong online presence.
Making use of the five innovations listed above will help you to start increasing revenue today, regardless of what type of business you’re involved in.
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