A $3 Million Investment to Make Micro & Small Businesses More Competitive

| May 30, 2019

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The Economic Development Council is the bridge between the business community and the government and advocates for and supports policy reform to make it easier to do business in Belize. The MSME Enhancement Programme is the second phase of an initiative that will see G.O.B. invest some three million dollars and will make business more competitive and more affordable to operate in the formal sector.

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5 Ways To Locally Advertise Your Small Business

Article | April 5, 2020

Many small businesses have a minimal budget when it comes to advertising, and that can hold them back. It’s not impossible, but it takes a lot more consideration as to where and how you spend that money for maximum exposure and benefit. Before the internet, adverts in the phone book or the local newspaper were the norm, as well as traditional methods such as flyers and posters. These days, small businesses are aware of the importance of search engine optimization (SEO) and the need to rank highly on Google, but the reality is that they also need to focus on hyper-local methods of advertising. In this article, we look at a few ways in which you can do this.

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4 Best Practices for Promoting Your B2B Business Online

Article | July 22, 2021

Online marketing is constantly evolving, and it can be hard for B2B marketers to keep up. But this is no time for laggards. With more people working from home, boosting your online presence is critical. Just look at webinars, 39% more people attended online events in 2020 than in prior years. And the B2B business outlook for 2021 and 2022 suggests that marketers will continue to accelerate digital growth with search, virtual events, podcasts, and LinkedIn replacing traditional marketing tactics. With so many digital channels and brands competing for attention, where should you focus your B2B online marketing strategy and efforts? Here are four areas that you may want to consider as part of your digital marketing mix.

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How Can Entrepreneurs Capitalize on the Potential of Mobile Technologies

Article | August 23, 2021

The use of smartphone/mobile technology has become the new standard, permeating every area of life. As a result, it gave rise to mobile technology opportunities for businesses. According to Statista, there are currently 3.8 billion smartphone users worldwide, which equates to 48.20% of the world's population owning a smartphone. India, China, and the United States have the most outstanding smartphone penetration rates. Between 2016 and 2020, the global smartphone user base rose by 40%. WARC asserts, by 2025, 72% of all internet users will access the web only through their smartphones. With the primary data and projections, it is abundantly evident that mobile technology represents the future of the corporate world and commercial innovations. On average, in the United States, four hours of each day are spent on mobile devices, which account for more than half of all online traffic. COVID-19 created obstacles for many areas of society; many company owners encountered several difficulties operating their businesses because of the limitations imposed, especially small businesses. But, on the other hand, the pandemic provided an unprecedented boost to mobile technology opportunities in every facet of life. Mobile is gaining traction not just in marketing and retail but also in healthcare and education for convenience and safety reasons, and gradually gaining popularity. Patients could not visit their doctors during the pandemic but could communicate through text, virtual meetings, or phone calls. Similarly, the education sector saw a dramatic shift in its teaching framework when everything went online. With the increased use of mobile to link teachers and students, mobile technology became an unavoidable factor in the education sector. Save Time, Save Money The potential of mobile technology is evident when it saves company owner’s time and money. For example, apps replace paper forms, cloud solutions replace resource-intensive local filing, and scanning and image functionalities assist field-based customer or supply chain personnel. From mobile applications to the operating systems of mobile devices, there are various ways that mobile technology helps businesses save time and money. Here are few benefits of mobile technology how they reduce business expenses and time. Online mobile apps have reduced offline paperwork. Mobile communication does not include any additional expenses, such as those associated with setting up a landline connection. Even without being on-site, you may place or confirm business orders over the phone. You may use mobile banking applications to send and receive paychecks or any other type of payment without visiting clients or banks. Mobile technology is vital in business, from texting to phoning, sending voicemails, or recording them using VoIP. Cashless Payment Options Mobile technology opportunities opened a door for cashless payments. All these years, opting for this mode of payment had been just an option, but it became vital during coronavirus to avoid spreading the virus. Both online and contactless payment methods gained popularity among both company owners and consumers. With social distancing norms in place, more individuals in established and emerging nations began to embrace contactless payments as a safer method to handle their money According to Finaria.it, the worldwide digital payments sector is anticipated to reach a value of $6.6 trillion in 2021, a 40% growth in two years. Furthermore, by 2025, mobile payments are expected to nearly double in size and reach a value of $4.6 trillion. Numerous payment methods exist, including mobile wallets, peer-to-peer mobile payments, real-time payments, and cryptocurrencies. Contactless payments are significantly faster than conventional modes of payment. Mobile payments generate extra data on a user's habits and interests, which might benefit your marketing team. Remodel Shopping Experience The pandemic devastated in-person retail business, and they had to re-establish themselves in the market. Many consumers are comfortable getting access to a personalized in-store experience via mobile devices. In 2016, 209.6 million Americans shopped online at least once, according to Statista. The number of online shoppers is anticipated to reach 230.5 million by the end of 2021, making the US one of the most developed e-commerce industry-friendly countries. Looking at the above statistics and the customers' needs, entrepreneurs must meet consumers' demands and help them research, find, and compare items. However, as rising mobile components alter retail, it is critical for businesses to maintain their privacy. Mobile technology potential is vast and can offer several benefits to consumers. In addition, entrepreneurs can incorporate it into their businesses in an inventive way. Maintain Orderly Physical Spaces QR codes date back to 1994, but they never acquired widespread acceptance or were widely used. However, the pandemic's onset altered the entire situation. Because the COVID-19 standards for maintaining distance, avoiding physical contact, and exchanging anything were deemed hazardous, consumers began to prefer digital connections over physical ones. That is when QR code-based payments became the most convenient payment method, requiring only the use of a mobile device. The pandemic has created unprecedented opportunities for touchless technologies (QR Code being the leading player). According to a recent poll by Statista, an estimated 11 million homes in the United States alone were predicted to have scanned a QR Code in 2020. This shows an increase from the projected 9.76 million scans performed in 2018. QR codes are used to make payments as well as place orders. Elimination of physical touchpoints from your business provides a more seamless experience for your consumers. Winding Up While the utilization of mobile phones or smartphones is not new, the manner they are used has evolved considerably over the previous five years, particularly during the pandemic. Indeed, the mobile phone has evolved into the most helpful tool/asset for information, communication, purchasing goods, and scheduling. Rapid advancements in cloud technology increase corporate use of mobile devices by enabling more flexible working habits and remote access to services. FAQs What is the future of mobile technology for business? The business has a bright future with mobile technologies. Everything is becoming virtual, including the corporate sector, where mobile technology plays a critical role. In addition, mobile technology has aided in the communication of businesses. What are the effects of mobile technology on entrepreneurs? Numerous mobile technologies, such as smartphones, mobile applications, and GPS devices, link everyone and enable company owners to stay connected with their consumers. As a result, mobile marketing is gaining traction and assists small businesses in reaching clients, and contributes to increased sales. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is the future of mobile technology for business?", "acceptedAnswer": { "@type": "Answer", "text": "The business has a bright future with mobile technologies. Everything is becoming virtual, including the corporate sector, where mobile technology plays a critical role. In addition, mobile technology has aided in the communication of businesses." } },{ "@type": "Question", "name": "What are the effects of mobile technology on entrepreneurs?", "acceptedAnswer": { "@type": "Answer", "text": "Numerous mobile technologies, such as smartphones, mobile applications, and GPS devices, link everyone and enable company owners to stay connected with their consumers. As a result, mobile marketing is gaining traction and assists small businesses in reaching clients, and contributes to increased sales." } }] }

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4 Questions to Ask — and Answer — Before Starting a Side Hustle

Article | July 6, 2021

Starting a side hustle requires doing a bit more than deciding you will monetize your interests. You can explore a hobby or activity that you are passionate about through a side hustle. This hustle may also allow you to carve out a space for pursuing natural talents, such as the ability to bake cakes or sew clothing. Typically, a side gig is pursued on the side in addition to full-time employment elsewhere. Side hustles may not be your full-time line of work, but that doesn’t mean they do not receive any less attention. Starting a side hustle requires an investment of time, energy, focus, and dedication. This ensures that you may pursue what you love, learn by doing, create and establish a working business plan, and, ideally, set yourself up to build a loyal customer or client base that enjoys and invests in your offerings. Starting a side hustle also means being able to ask, and answer, tough questions to ensure you’re ready to commit. Before you start, make sure you can confidently answer the following questions to ensure a healthy lifecycle for your side gig.

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