WELCOME TO The smallbusiness REPORT
Access to Finance Stimulates Small Business Growth in Timor-Leste
February 11, 2019 | 49 views
Numerai manages an institutional grade long/short global equity strategy for the investors in our hedge fund. We transform and regularize financial data into machine learning problems for our global community of data scientists.
Article | July 16, 2022
Together with 'artificial intelligence' (AI) and 'machine learning,' 5G has emerged as a hot topic in the tech industry over the last couple of years. There's a lot of buzz about the next generation mobile network's technological capabilities, and for good reason: faster, more consistent, and higher bandwidth mobile connectivity can open up new levels of productivity, versatility, and opportunity for small businesses.
Benefits Motivating Small Businesses to Invest in 5G
The world may be in for a devastating recession as a result of the war's impact and the emergence of new waves of coronavirus pandemic. This is encouraging enterprises to prioritize digital transformation.
Digital innovation helps to develop tools and strategies that businesses can use to overcome challenges and solve complex problems. Improved hardware and smarter software enable data collection and analysis for scalability.With its promising strength of connectivity, exceptional frequency of data transfers, and high-speed, 5G technology can foster digital innovation, especially among small and medium-sized businesses (SMBs), allowing a wide range of highly skilled workers to work from any location or workplace. Here are some major benefits, encouraging SMBs to invest in 5G, as follows:
Provide businesses with increased operational flexibility.
Increasing the sales channel's productivity.
Creates an intuitive supply chain.
Facilitate access to cutting-edge technologies such as augmented and virtual reality (AR and VR).
Improves workforce functionality and safety by lowering latency.
Enhances the customer experience.
A Plethora of Opportunities for Small Businesses
With a projected annual growth rate of around 97 percent and 40 percent of the population around the world using internet of things (IoT) apps on a 5G network, the new digital technology has the potential to create an incremental opportunity of around $251 trillion by 2025. A large number of businesses, irrespective of size or industry, are considering preparing themselves for the deployment of advanced 5G technology to benefit them and their customers. In addition, the deepening trend of digital transformation and the incorporation of cloud technologies are presenting a wide range of opportunities for businesses to scale up their connectivity, reach, and productivity.
Article | June 30, 2022
The internet has transformed into a modern-day silk road that supports almost all aspects of modern life. Growing penetration of the internet has made it possible for businesses of all sizes to reach all parts of the sector and access previously inaccessible areas, increasing productivity via the use of digital tools.
Any business strategy that involves using computers online, even if only for an email and a website, needs to include cybersecurity measures. The theft of data and digital information is now more common than other types of theft and is becoming one of the most commonly reported types of fraud.
Impact of Cyberattacks on Small and Medium-Sized Businesses
Cybersecurity is emerging as one of the most serious economic and security challenges for businesses all around the world. It is not just a threat to big businesses, multinational corporations, and governments, but they are a major problem for small businesses too. According to a recent study, nearly 22% of small businesses have been the targets of cyberattacks. Also, around 46% of the security breaches were reported across small and midsize businesses in 2021.
A cyberattack can have a devastating impact on enterprises, especially on small businesses. In fact, about 60 percent of small enterprises that are attacked and experience a breach shut their business within six months. Not just this, there are more detrimental repercussions that businesses can encounter, including the following:
Financial losses due to business disruption
Financial losses brought on by the theft of financial data
High costs to remove threats from the network
Reputational harm following disclosure of data breach to customers
Demand for Cybersecurity Making SMBs Hotspot for Investment
The need for effective cybersecurity measures increases in lockstep with the increasing number of organizations expanding their operations online. In addition, the rising incidence of security breaches, data theft, and others in small and medium-sized businesses (SMBs) is mandating these enterprises to adopt security solutions such as data backup solutions, encryption software, and password-security software, making them the center point for investment.
Attributed to this, the prominent providers of cybersecurity solutions are focusing on coming up with advanced security software specially designed for SMBs.
Article | July 20, 2022
The global workforce is coping with the new normal that includes — remote or hybrid work, new laws and regulations regarding the COVID-19 pandemic, and increased interest in employee health and wellness programs.
The HR departments of small businesses are adapting to these changes. So, let us take a quick look at what to expect in 2022:
Priority: Diversity and Inclusion Small business HR departments will prioritize diversity and inclusion in the workplace for talent acquisition, employee engagement, and retention
Advancement: Automated HR Processes HR will use technology to streamline onboarding and recruiting processes in 2022
Environment: Remote Work The possibility of long-term remote work with technology and new policies is on the horizon
Interaction: Virtual Employee Engagement SMBs must work towards engaging their employees through virtual meetings, employee surveys, and clear communication
Support: Employee Health and Wellbeing Small business leaders should step-up to support their employees’ well-being through a healthy and flexible work environment
Enhancement: Improved Employee Benefits The focus will be on increasing healthcare benefits, flexible work arrangements, and health wellness programs
New Leave Policies: Paid Sick Leave Small business HRs need to be aware of new paid sick leave policies and accommodations to help employees cope with the pandemic
Health Advisory: COVID-19 Vaccination for Employees Small businesses need to take proper precautions if mandating a compulsory COVID-19 vaccination policy
Compliance: Burdened HR Departments Modified employee labor laws will require HR departments to modify their HR strategies frequently
Drug-testing Laws: Impact on Drug-free Work Policies Medical marijuana usage policies differ across states, so HR departments will need to remain up-to-speed with them
A Productive 2022 for Small Businesses
Small businesses’ HR departments are working to retain, engage, and safeguard employees to lead their companies towards a productive 2022. However, they need to be diligently compliant and offer lucrative benefits to employees to sustain and grow their business.
CRMs, as highly customizable software, can be tailored to any small business. From an e-commerce business to an educational service to a logistics firm, every industry benefits from CRM integration to manage, organize, automate, and grow revenue and operations. The CRM industry has grown by 600% since 2010. It is expected to generate $80 billion in revenue by 2025.
6 Reasons Every Small Business Needs CRM
It aids in the collection and organization of customer data:CRM solutions enable cleaner customer data. Data mining and enrichment are automated and standardized to ensure that nothing is overlooked. Data duplication is impossible with advanced duplicate prevention features.
Advanced Database Segmentation Enables Personalized Communication with Leads:Personalization is expected by 63 % as a standard of service, and they believe they are recognized as individuals when they receive special offers. A CRM solution enables you to effectively personalize your communication with leads. Most small business CRM systems include advanced segmentation filters and tags that allow you to divide your audience into smaller groups based on a variety of criteria.
Beneficial to run well-managed email campaigns: Email marketing can generate a 44.4 % ROI, generating $44 in revenue for every $1 spent. According to Hubspot, 93 % of B2B marketers use email to share content, and 59% say email is their top ROI driver. Email marketing is extremely cost-effective and scalable and generates considerably higher quality leads for your small business.
Enables you to keep track of the sales process: The CRM system visualizes your sales process, highlighting the points where leads frequently abandon ship. This allows you to quickly identify threats and opportunities, as well as weaknesses and strengths.
Avoids missed lead opportunities:CRM systems make sure that small businesses never miss a lead. Even if the sales rep goes on a different route, the lead will still get recorded with efficiency.
Increases Sales Performance: Businesses that have integrated CRM into their operations report a 34% increase in sales productivity. CRM automatically populates customer profiles with data, schedules mailouts, and relieves you of the responsibility of monitoring your inbox. It keeps track of your agenda and keeps an eye on your calendar. In a nutshell, CRM frees up your time for more important tasks such as understanding your customers' needs or selling.
For effective expansion of business and increasing sales, small businesses-integrating CRM software will serve with endless benefits.
digitaltrends | July 07, 2019
Social media is a great way to spread the word about your business, connect with customers and network within your niche. Constantly posting to each of your social media accounts like Instagram, Facebook, and Twitter can be daunting, however, and hiring a social media specialist may not be in the budget. Luckily, there are some tools that can help you easily schedule posts, keep track of engagements, and much more. Here are the best social media management tools for small businesses.
smallbiztrends | July 06, 2019
ZOHO has a suite of apps designed to address virtually every aspect of your business. Finance Seminar ’19 is going to bring these tools together so you can streamline the day-to-day operations of your business.The free finance seminar is designed to help you learn everything you need to know about Zoho apps.Small business owners, bookkeepers, and CPAs will be able to dive deep into accounting. According to Zoho, the seminar will show you how to manage everything from invoicing and expense policies to analytics, approval workflows, and more.
smallbiztrends | July 07, 2019
According to a study from Go-Globe, 18 percent of local searches lead to a sale within one day. And what do people normally use to search? That’s right Google. So if you want people to find your local business in their searches, you need to make your business really easy to find on Google. Google My Business is the search engine’s local business listing platform. You can create a profile that pops up right in the search page so people don’t even have to visit your website to get the information they need to visit you, including your address, phone number and hours of operation.
Keep me plugged in with the best
Join thousands of your peers and receive our weekly newsletter with the latest news, industry events, customer insights, and market intelligence.
Put your news, events, company, and promotional content in front of thousands of your peers and potential customers.
Not a member yet? Not a problem, Sign Up
Sign up to contribute and publish your news, events, brand, and content with the
community for FREE