One of the things the pandemic did was give people time to think. And according to a study by Fenetic Wellbeing, 50% more people put starting their own business on their bucket list in 2021 than they did in 2020. Another study by Azlo, a banking platform for small business owners, freelancers, and entrepreneurs, found 96% of new entrepreneurs said the pandemic is motivating them to start their own business.
People of all ages and financial ability think about starting their own business, but the impetus to go ahead and do it usually doesn’t come in the form of a global pandemic. With some time and perspective, the pandemic is in some way responsible for pushing people to go after their entrepreneurial dreams.
Small Business News Roundup – June 4, 2021
Here’s what else is making news this week for small business owners:
When it comes to buy now pay later, consumers seem to have a bit of a love/hate relationship with the deal. Research shows that more than half of customers regret buying something on buy now pay later terms. Yet at the same time, 60% of consumers admit to making purchases through this type of deal.
Remote work can be a lonely, unthankful task, leaving those working from home pining for company and affection. In walks, a fluffy little Shih Tzus pup hailed the best breed of dog for remote workers. The purchasing of pets, dogs, in particular, has skyrocketed during the Covid-19 pandemic.
Agritourism is a type of commercial enterprise where agriculture and tourism meet. Whether it’s a working farm where someone can experience farm life or finding creative ways to connect tourists with agriculture operations, agritourism is an industry that’s quickly gaining a lot of attention.
Small Business Deals
The average small business loan amount for small businesses in the United States in 2020 was $71,072. This compared to fixed-rate loans, which had an average balance of $66,917 in the same year. These figures were uncovered by research by small business resource and research provider, AdvisorSmith.
The US workforce is planning on spending an average of $747 on work-related items as they return to the office. This statistic involving the spending habits of workers as physical workspaces reopen across the US was unveiled by the online lending platform, LendingTree.
Can you actually build a company based on a recommendation from Oprah Winfrey? Well, yes you can! On The Small Business Radio Show this week, Gloria L. Williams at Footnanny reveals how her brand exploded after a tweet from Oprah. She has been her pedicurist for many years and has since appeared on Oprah’s favorite things for 7 years in a row.
From improving SEO to outsourcing, there are plenty of strategies you can use to grow a business. But which ones are right for your company? Here, members of the online small business community share their top tips. Go through the options and choose the strategies that are most relevant to your team and your operations.
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