Innovative Resources for Small Business: Helping brands to save and Make Money

Mon, May 26, 2014

Financial Advice

The number of active online business is continuing to rise across the globe, as aspiring entrepreneurs continue to seek out cost-effective and potentially profitable commercial models. The relatively low cost of establishing an online venture is particularly alluring; especially the global economy is only just beginning to recover from the Great Recession.

A recent article in British publication The Guardian underlined this, as it discussed the potential for establishing a successful online brand for the cost of £20 per month. This type of case study offers an insight into the significant growth of Internet-based firms, while it also explains why the vast majority of contemporary advice is aimed at educating and empowering online business-owners.

Evolving your Offline Business: Innovative Resources for Saving and Making Money

While the majority of modern businesses will have at least some form of online presence, there remains a core group of ventures that operate primarily offline. This means that they are likely to trade through a physical store front or office space, which in turn requires higher start-up costs and inflated overheads. So even though statistics suggest consumers are inclined an average of 50% more for products that they can touch and feel, offline business-owners must make the most of their available resources if they are able to minimise costs and maximise profit over time.

With this in mind, what innovative resources are available to help you achieve sustainable growth as a small business-owner? Consider the following: –

  1. Public Authority Resources and Funding

Before the Great Recession, small and independent businesses had become the engine for global economic growth. This was especially true in developed countries such as the UK, and both Gordon Brown and David Cameron have previously championed the role that freelancers and entrepreneurs have played in creating job opportunities nationwide. The result of this is that modern-day governments offer a host of support options for start-up ventures, ranging from financial grants and loans to consultancy and tax advice. Public authority resources can therefore offer considerable assistance to small businesses during their initial growth, especially in terms of comfortably funding start-up costs and establishing a model that is compliant with national legislation. To benefit from these resources, learn more online or contact your local authority to make further enquiries.

  1. Private Sector Partnerships

As recent developments in the energy sector have confirmed, local authorities and national governments tend to partner with private sector firms to deliver financial incentives to consumers. The same principle can apply to business start-ups, as there are a select few private ventures that offer considerable discounts that help novice entrepreneurs to significantly reduce their costs. Merchant services resource Card Cutters, who claim that 61% of customers are likely to spend more in outlets that accept card payments, offer an example in that they supply low, fixed rate payment solutions to start-ups and assist them in maximising their profitability. This type of partnership is crucial for independent start-up ventures, as it impacts positively on their start-up costs and also allows them to manage their overheads while they evolve. Learn more by initially identifying formative issues with your business model and identifying private sector service providers that can help you.

  1. Marketing Resources and Promotions

In some instances, informational resources can also be extremely helpful for small business owners. This is especially true when applied to marketing, as it is possible for independent brands to access web-based tutorials and learn more about low-cost promotional concepts such as social media and blogging. This enables small businesses to follow the template set by leading brands such as Instagram, which was established as a modest and simple business model that was eventually sold to Facebook for $1 billion after just eighteen months in existence. While different business-owners must draw alternative marketing lessons depending on their nature of their industry and underlying model, it is possible identify common themes such as the importance of creating a clearly defined brand and effectively targeting independent consumer segments. Resources such as The Marketing Donut website are particularly purposeful, as they include briefings and studies on a host of commercial topics.

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