According to Fundera, there are about over 28 million businesses that are considered small businesses in America. Also, about more than 90 percent of these small businesses account for all businesses in the United States. Small businesses are excellent in America because they are able to help the economy grow and develop by giving money the opportunity to work. There are about 60 percent of jobs created by small businesses in the United States. The problem is that many small businesses don’t last very long. Studies have shown that only half of small businesses will end up staying open for business for only the first 5 years of being open. It is always the beginning years that are always the hardest for businesses. The main reasons that companies close down is because there isn’t enough business generated so there is a significant cut in their cash flow. In order to keep your small business from staying open, you have to be creative and keep your business up to date with the latest technology for more efficiency.
Many small business owners don’t realize the importance of providing excellent service to their consumers. In addition to delivering excellent service, it is important for small businesses to deliver excellent products in order to remain in business. You have to be able to give your business a good reputation and a name for its services and products. According to Fit Small Business, about 52 percent of small businesses were ran from the comfort of many owners’ homes in the year of 2014. If you are running your small business from your own home, it is even more important that you utilize different resources in order to keep your business running. If you are the only one running your business, it is even more critical that you have assistance. There are many different options for one that is running their own business from their own home. Technology has allowed many small business owners to run their business more efficiently.
Many times, small businesses have trouble keeping up with the work. Many small business owners tend to take on all of the work on their own, making them feel overwhelmed, causing them not to be able to keep up with the amount of work and productivity that is required of their company. Technology has allowed small businesses to be able to run more efficiently with automating their customer service. You can now be able to create your own bot to be able to help you manage customer service increase and or general services. You can take the time to conduct more research on this if this is something that you are interested in. You can try to search for: how to create your own bot. From here you should be able to find many different articles that discuss how you can create yours.
Overall, it is critical that small business owners do everything they can to keep their business from closing. You always have to look at the next new thing that comes out on the market. You are constantly competing with other businesses, so you always want to make sure that your technology is up to date.