Small Business Trends

Small business is the true engine of economic development and job growth. And today plenty of people, either dislocated in layoffs, finding it difficult to find the right kind of employment in a tough economy or simply yearning to strike out on their own can find some difficulties…but also some opportunities. Look for both ahead in this May 6, 2010 edition of the Small Business Trends roundup.

Policy

Ongoing debt is NEVER good for growth. How is it that despite all the evidence from the credit crunch and the economic collapse that followed, we still haven’t learned that increasing debt is never a good idea? Higher taxes, inflation, zero growth etc. National Review Online

Are you ready for that IRS audit? Sure the government denies it, but small business consultant Gene Marks says he thinks it’s best to be prepared for a potential increase in the audits of small businesses. Gene is suggesting a number of tactics in the event the feds come knocking on your door. Bloomberg BusinessWeek

Trends

Plenty more potential small business owners out there. According to a recent survey, 28 percent of American employees are convinced they could do their boss’s job better than the boss. Also, employees in entrepreneurial companies seem more positive about their workplace. So what are you waiting for, America? Start a business today. Rasmussen Reports

Marketing

The ‘ideal customer” syndrome? Hey, everyone understands the need to profile that perfect customer, the person you expect to be the ideal purchaser of your product or service. But to grow your business, be sure you find who else is using it too. Flying Pig Communications

Time is definitely money. Yes, social media and other online marketing tools are free but they take time to use, time that could be spent on other aspects of your business. So, why not create a budget for your time spent marketing online. It’s an investment you should expect return on as well. M4B Marketing

Franchising the social media. It may or may not be hard to believe, but franchise businesses have been kind of slow at adapting social media in their marketing plans. Don’t worry though. According to Joel Libava, they’re catching up. Business.gov

Sales

How to kill a sale: a small business guide. Do you feel “honored” and “privileged” to have customers or do you feel you “deserve” and are “entitled” to them. The answer to this question can be critical for a small business owner and can be the difference between success and failure in your venture. The Yonatan Maisel Blog

What can Chris Brogan teach you about sales in your small business? Sales and marketing are closely related, especially in small businesses where one or two owners or employees might be handling both functions. Remember the same rules apply as in other aspects of your business, but most importantly remember to always offer your prospects value. The Sales Blog

Finance

Is it time to go local with your banking needs? Small community banks can offer better service and flexibility than their larger counterparts and can prove the perfect partner for a small business. And doesn’t it feel great to support another small community enterprise like your own? But remember. Small community banks have requirements they will expect you to meet as well. Here are some tips about how to go about it. WSJ

Operations

Think those business trips are too expensive? Think again. With a bit of creativity and some thinking ahead even a small business can save some money and do business trips on a shoestring. Stay with family instead of at a hotel. Scrutinize expenses. Try to accomplish several things with a single trip. Read the article and brainstorm for more great ideas. NYTimes.com

Shopping for an SBA loan? Some small business owners would advise you not to bother. You see, others who have gone before you have found that seeking small business financing from the U.S. Small Business Administration can be a full time job. So, before you try to figure out whether you can afford moving forward without an SBA loan, figure out whether you can afford the time away from your business needed to get one. AllBusiness

Technology upgrades on a budget. Technology can be a key tool to help your small business compete. From your Website to other tech tools, you can use it to recruit and contract talent or for many other applications. Here are some suggestions to help you implement solutions to most of your technology needs. And it won’t cost you much at all. smallbiztechnology