'Tis the season to be jolly and today, we’re celebrating the end of the year by shouting out some small businesses that are slaying the game on social media! These businesses all have something unique to offer and small business owners looking to branch out online can definitely take some pointers from them!  

1. The Federal Store 

Ok, let’s be real: all we really want for Christmas is some holiday cookies from The Federal Store! They have a beautiful selection of photos that advertise their products and give their customers information about the business. Plus you really get a feel of their atmosphere and work spirit. They reach out and interact consistently with customers and make sure to update any changes. This takes advantage of the community feeling that people look for in small businesses!

2. TAV Studio 

Tell me honestly, is this not some of the most beautiful pottery you’ve seen? In a time when shopping (especially during the holidays) is all about quick consumption and mass production we tend to lose that special touch of quality and artistry when purchasing things. TAV Studio’s Instagram showcases its beautiful products but also adds a personal touch that really allows consumers to understand and appreciate the product on a whole new level. Aesthetically, TAV Studio’s account is clear and consistent and shows a great deal of customer dedication. Go TAV!

3. ZALESKA

ZALESKA really highlights that consistency is key and shows a fundamental understanding of how to successfully advertise its products. Not only are the colours and content consistent, which enhances the overall cohesiveness of the account, but it also builds a clear image of the company culture. Plus, ZALESKA doesn’t just show its jewelry alone, it has a variety of content that showcase its jewelry in different situations and on different people. This diversity of content makes the products extremely appealing and allows customers to get a sense of what the company offers. 

4. Soar Organics

Soar Organics highlights that consistency really is key! It showcases a variety of products and conveys the cozy, serene atmosphere that their products have the potential to create. Alongside its beautiful pictures Soar Organics adds a personal caption that really connects the consumer to the brand. It lets the consumer know that there is a hard-working team behind the company that values its customers and the quality of its products. Kudos!

5. Babs Scribbles & Creations

Being effective online is all about creating and showcasing not only your product or service but also customer experiences. Babs Scribbles & Creations does this perfectly. There’s a variety of content that showcases what products and services are available and how customers integrate these into their events. Further, there is consistency in posting that keeps the customers up-to-date with new products, services and options available to them! 

All these businesses are absolutely killing the game. They are clear, effective and showcase the type of business they are. They take into consideration how customers interact with businesses and what they are looking for in their products. This creates that personal touch that really shows why small businesses rock!

Happy Holidays! Don't forget to shout out and support your favourite small businesses this season (and all year to be honest)!

Your sales forecast sets your standards and goals for the next year. Going in with an ambitious but achievable forecast can push your business to lengths you didn’t even know it could reach. That’s all really exciting but first, you have to make sure you know exactly what you're signing yourself up for. Planning ahead and defining reasonable goals for your business will keep you on track and allow you to make better business decisions in your future. So, how do you get started with your business forecast for 2020? 

Where do you want to take your business?

The first question you should ask yourself is what are you hoping to achieve next year? Are you looking to expand a product line, add more services, increase outreach...? These things need to be carefully considered in order to make reasonable and sustainable goals for your next business cycle. Looking at profit/loss statements from previous years (if available) will help you gage what reasonable goals are and where your business model needs improvement. Think about how you can breakdown your business model into tangible sales categories that will help you organize your forecast and make it easier to keep track throughout the year.

Knowing the goals you have in mind for next year: how much should you be spending? Let’s say your goal is to increase sales of a certain product or increases awareness of a certain service, this means that not only do you have to account for that new product/service but you need to focus on new marketing strategies and hiring a new sales person. These things are absolutely doable but they do require  thorough planning, especially if you have a limited budget.

How do I make my goals more tangible?

Breaking your goals and spending down into tangible units can help make the planning process a whole lot smoother. Whether you think about your sales in terms of units or dollars is up to you though. It just depends on whether you're thinking in terms of individual components or total money. Knowing which of these is better for your business is up to you!

Using sales data from previous years can also help you gage which method is better for you and how you can use these units to improve your business model for the next year. Try out bottom-up forecasting if you're struggling with tangible goals. This is when you work your way up from low-level company data to revenue to estimate your company’s future performance.

*Try using visuals to get a better overview of all your company stats!

How do I successfully integrate new products/services?

Use previously successful products as guides on how to successfully introduce a new product. Consider the marketing, product presentation, pricing etc. involved and see how you can emulate this to pave a successful path from the new products you’re introducing. Knowing how much the average customer spends at your store can also help you understand where this new item falls into your already established service line. Make sure to take into account other expenses associated with this product when estimating prices. If you're struggling with this, another thing to consider may be how customers interact with and find out about your products and services. This can help you understand where you need to focus your resources in terms of successfully introducing new products.

What time frame should I be looking at?

You can make short and long term sales forecasts but always start with one year and then bump up if necessary for specific business goals that take longer. Just making a sales forecast doesn't do you much good if you don't keep regular track your progress, especially over longer periods of time. Refer back to your forecast throughout your business cycle to see how well your predictions align with your sales. This can help you make adjustments to your business plan as well as helping you create better future goals.

No doubt this whole process sounds daunting - but it doesn't have to be! You know your business better than anybody. As long as you make tangible goals that make sense for your business, you can set up a successful sales forecast for 2020!

Need help with financing for 2020? Get started early, find out what options are available to you here:

[fusion_button link="https://apply.merchantadvance.com/smallbusiness/" text_transform="" title="" target="_self" link_attributes="" alignment="" modal="" hide_on_mobile="small-visibility,medium-visibility,large-visibility" class="" id="" color="default" button_gradient_top_color="" button_gradient_bottom_color="" button_gradient_top_color_hover="" button_gradient_bottom_color_hover="" accent_color="" accent_hover_color="" type="" bevel_color="" border_width="" border_radius="" border_color="" border_hover_color="" size="" stretch="default" icon="" icon_position="left" icon_divider="no" animation_type="" animation_direction="left" animation_speed="0.3" animation_offset=""]Click here![/fusion_button]

The formerly elusive idea of the ‘startup mindset’ has become pervasive in small and big business mentalities alike. Startups thrive on their ability to create products that fill market gaps and reach consumers at increased speeds. A huge part of this comes from the 'startup learning mindset.' Startups learn from their mistakes and integrate solutions into updated versions of their products. 

What do startups do differently?

The purpose of tech startups is to fix specific gaps in the market. On the other hand, small businesses tend to focus on generating profits and contributing to local market shares. Whereas tech startups often stay small, small businesses expand through growing teams, distribution and manufacturing. The centre of small businesses is a team that serves customers on a more individual level and because of this, expansion means creating a bigger team. Startups, on the other hand, focus on creating a platform that enables them to help large amounts of customers at once - this means that their expansion doesn’t necessarily depend on the physical size of their team.

Scalability

Let’s talk about scalability. Scalability refers to the ability of a platform to cope with increased workloads - in this case, increased market demands. What startups do incredibly well is getting products to customers at increased speeds. Startups test products and run surveys to determine whether customers are willing to trust Softwares to perform certain tasks for them. Rather than investing large amounts in untested products, startups start small and improve the flaws in their original product. This doesn’t mean their products are free of practical issues. The products succeed because they become available quickly and are updated frequently based on real user feedback. 

“Creating a brand is not a one-time affair. Your brand lays the foundation for a long-term relationship with your client, which will succeed or fail based on whether your products and behaviour deliver what your clients have been led to expect. If you fail to live up to the values you profess to represent, your brand will fail.”
- Kavit Haria, Online Business Building Strategist

Creativity

It’s no secret that creativity is the strength of startups. Their job is to shake up the status quo and they succeed because they are able to develop unique solutions to market gaps. Startups work quickly and efficiently because they are constrained by access to resources. This forces startups to think outside the box and integrate changes faster than larger businesses. Startups also often don’t have access to extra funds to solve their problems so they streamline their processes by removing excess features that end up enhancing the product’s operational efficiency. 

Startups take risks, understand teamwork and implement product changes tapered to user feedback. Their ability to learn from their mistakes and adapt to change is what makes them thrive. Small businesses play a key role in the development of any thriving economy and using the educational foundations of the 'startup learning mindset' can help push small businesses to the forefront of their local economies.

Need a little help to get the holiday season going?
Click here to see what financing options are available to you!

By Juliana Schneider

It’s that time of year again: snow is falling, lights are strung up and the streets are filled with people bustling about to get their holiday plans in order. In the midst of the holiday chaos, it’s easy for restaurants to get left behind even though there’s no shortage of opportunities for peak booking levels. With family dinners to holiday parties to people just getting together, how do you take advantage of the holidays and skip out on being left behind?

1.  Decorations and Visual Content

Ok, there’s no doubt that decor is one of the best parts of the holidays. It’s cold outside and some cozy decorations make that frosty mood all the better. How do you come up with a cozy theme that will drive customers in? It all starts with a theme: choosing matching colours, lights and music are great ways to warm up the atmosphere.

Translating this cozy atmosphere onto social media is also a great way to get more business. Not only do people want to get in the holiday spirit but people respond to visual content more than any other type so, use this to your advantage! Also, it signals that you’re ready for the business of the holiday season and have transformed your restaurant to meet the needs of the holiday consumer.

*A lot goes into creating a great holiday atmosphere. That being said, don't get too caught up in the specifics of designing a theme. Have fun with it and focus on creating an environment that people want to spend time in. At the end of the day, that's what's going to make customers choose your restaurant over others.

2. Promotions

Got anything fun planned for the holidays? Show your customers the sense of community and generosity that comes with the holiday season! Special deals during peak times can help drive business in and get the word out through other channels. Better yet, promotions targeted at large groups of people will encourage customers to bring their friends and family. Whatever your promotions focus on, let your customers know what you can do for them as a thank you for their support.

3. Spotlight Unique Features of Your Business

Revamping your menu for the holiday season? Featuring new holiday-themed drinks for happy hour? Draw your customers in with new seasonal holiday-themed foods that they can’t just get anywhere. The holidays are a great time to try out fun things with friends and family and offering new twists on holiday classics is a great starting point. Try revamping some traditional holiday dishes with your own new twist based on what's popular! 

4. Holiday Parties

Family gatherings, office parties, holiday get togethers - there’s no shortage of reasons to celebrate at year-end. Catering your business to hosting such parties could be a holiday revenue-generating option for your restaurant. Offering holiday party options is in high demand and if you have successfully set yourself up for the holidays, including decorations and special menus, then your restaurant would be the ideal place to host year-end parties.

5. Donations

Finally, as much as the holidays are about gift-giving, hot chocolate and snow, they’re even more so about community and reaching out to those in need. Being a strong small business that has a place in its community means being a leader when it comes to supporting your community. Leading donation initiatives through monetary means or goods (clothing, food etc.) is a great way to contribute positively to your community this holiday season. Also, coming up with strategies to be less wasteful with food and donating leftovers is a great way to be more sustainable and help your community thrive.

6. Start Promotions Early

Year over year, businesses all around are starting their holiday promotions earlier. Promoting before key selling periods allows the word to get out about your holiday deals whilst giving customers time to decide when they can fit certain activities into their schedule. Plus it extends the period in which customers can actually take advantage of your deals! 

With all the chaos of holiday preparations, it's easy to see why some restaurants get left behind. Getting your restaurant ready for the holidays is an absolute necessity for not missing out on all the business that comes with year-end! Whatever your goals are this holiday season, we're here to help! Click here to get a quote on financing today!

By Juliana Schneider

Constantly hitting the refresh button to see if you've been funded? Even if not, chances are that, as a small business owner, you’ll be looking to apply for a loan at some point - and that’s great! Financing can allow your business to invest in new opportunities to fuel growth and improve sales. All the pleasantries aside, applying for a loan can be a long and tedious process and there’s no guarantee you’ll be approved.
Typical business loan applications go through a couple of stages:

• The small business gathers info, fills out paperwork and applies for the loan
• Lender underwrites the loan
• Lender approves loan, sends commitment letter
• Lender closes on the loan

This back and forth process between bank and business can easily take at least 2-3 months and that’s assuming there were no hiccups along the way. 
So why does this take so long?
Well, for starters, the paperwork and vetting itself is a process that requires scrutiny on behalf of both parties. Businesses and banks need to make sure they have all their paperwork up-to-date and accurate. Missing or incorrect information can result in delays or even outright rejections. Businesses can try expediting the process by having their information ready to go, but there’s no guarantee this will speed up action from the other end. Also, be aware that banks don’t regularly update the status of a business’ application.

A problem for small businesses is their status as a small business. Banks can increase their profits by focusing on larger loans and small businesses usually request loans of less than $500,000. This is a reason banks may prioritize larger business applications and put small business applications on the back burner. Another issue for small businesses is that they often don’t have sufficient collateral (an asset that the borrower offers to the lender as security for the loan). For small businesses, this often translates into the personal financing of the business owner. Insufficient collateral easily results in denial of a loan.

Not only are bank loans tough to qualify for but they take a long time to process and at the end of the day, there’s absolutely no guarantee that they’ll be approved. This can hold small businesses back as they wait to find a good source of financing that values the role of small businesses in the community. That’s why finding alternatives to bank loans is often a much more viable solution for small businesses!

Looking to apply for financing? Click here:
https://apply.merchantadvance.com/smallbusiness/

Questions? Concerns? Just want more info? Check out our website here:
https://www.merchantgrowth.com/

By Juliana Schneider

There’s no question that asking banks for seasonal financing can be stressful. Banks know that the pressure of cyclical down times often translates into financial strain. Nonetheless, year-round commitment is necessary for seasonal businesses and planning ahead can help ease financing stress. Regardless of when peak season hits for your business, all businesses thrive when revenue is used to fuel growth rather than cover past expenses.

1. How will business expenses be covered in the off-season?
A fundamental question: how will your business survive the offseason? Whether or not your business shuts down completely in the offseason, year-round expenses such as utility bills, rent, as well as salaries for yourself and maybe some year-round staff need to be covered. Minimizing short-term debt is key, setting your focus, instead, on long-term financing needs. The best options for off-season expenditure coverage are revenue from the previous peak and small business financing. 

• Past Revenue: Ideally, some revenue can be used to cover downtime expenses with most left over to reinvest in the next peak business cycle. However, covering too many downtime costs through past revenue can be a trap that inhibits long-term growth.
• Small business financing: Small business financing is an ideal solution to give you some room to cover expenses and focus on building your business’ future. It’s best to weigh your financing options before you’re in between a financial rock and a hard place. Not only does this signal good planning and a long-term success- focused approach but it also protects you from rushing into a predatory financing model.
• *Note on short term debt (i.e. credit cards): If you are covering long term and recurrent expenses through short-term debt, you risk long-term inhibited growth. Being held back by debt will prevent you from orienting your business plan towards the future and planning for growth.

2. What are off-season revenue-generating options you have considered?
Though your specific business model may be seasonal - the brand you’re trying to create is not. Finding off-season revenue-generating options that work to build your business but also help cover downtime costs demonstrates a proactive approach to planning and conducting your business plan. Thinking about how you can repurpose your space or provide other services year-round can help secure a steady cash flow, alleviate some financing stress and increase the likelihood to get approved for financing.

3. What is your operational peak-season cash flow requirement?

What is it going to take to get your business up and ready for peak season? This is where a steady revenue is an absolute necessity because no business can fuel up and succeed in peak season without cash to re-invest. What banks are trying to figure out is whether your business will be able to take advantage of peak sales times, advertising, stocking up, staffing etc. when the time comes. This helps them gage whether or not you have broadly considered the scope of your business and have a long term approach to building your business rather than just using financing to cover low periods.

4. What are the risks of seasonal failure?
Seasonal businesses can fail for a variety of reasons. Being aware of the risks and learning how to recognize signs of oncoming slumps early on can help mitigate the negative trajectory of a failed season. Poor weather is one type of seasonal failure, that’s very difficult to gage in advance. Management interviews and planning need to account for the potential of seasonal failure and adopt a flexible approach to preparation. This can include finding out whether stock up orders can be cancelled, how susceptible the business itself is to cancellations, timing of production  (i.e. well in advance versus shortly before peak season) and what does staffing look like/can this be scaled back in the event of seasonal failure?

5. What information is available for the bank to monitor its seasonal loan?
The bank will certainly want to be a part of the loan process in so far as monitoring financing regularly. Doing this by itself however, is not alone enough. Most banks will want to touch base with the borrower frequently. This opportunity also lends itself to discussing business progress and issues that may have come up. In addition to this, the bank will require regular reports on sales and progress among other things.

Getting the right funding you need means viewing your business as a year-round project. Show lenders that you have a broad outlook onto the cyclical nature of your business by using off-season times to grow your business, increase efficiency and expand the outreach of your business. Optimize your revenue during peak season and use this to re-invest in your business. Thinking of your business as year-round rather than focusing only on peak season will help you keep solid goals in mind so you can plan better for future business opportunities.

By Juliana Schneider

Stocking up for the holidays is in the works before the leaves start changing colours. Last year, the average Canadian consumer planned to spend $1563 over the course of the holiday season - a 3.7% increase from 2017. From family gatherings to holiday parties, the year-end calls for a variety of different occasions and gift-giving opportunities. As consumers are revving up for the holiday season, small businesses need to be there to fulfill the demand. The problem to avoid is letting day-to-day operations take over planning and to make room for stocking up for the holidays.

Taking Advantage of Key Selling Periods
Towards the end of the year, not only are gift-giving holidays like Christmas and Hanukkah fast approaching but selling periods such as Cyber Week, Boxing Day and Black Friday offer shoppers convenience and variety at discount prices. Now more than ever it's becoming increasingly common for businesses to extend their sales during key selling periods. Successful merchants are using promotional activities and pre-sales before key selling periods to stand out and attract customers for increased periods of time throughout the holiday season. Essentially successful merchants are creating an almost continuous presence in the consumer’s holiday outlook. In 2017, Canada Post saw a 21% increase in merchants offering pre-Black Friday promotions as early as two weeks in advance and 61% of merchants offered pre-Boxing Day sales. All of this requires lots of planning and lots of prep. In order to get ready for these kinds of volume influxes, businesses need to start stocking up early and planning how they can accommodate increased demand. Timing is everything and taking advantage of these profitable shopping windows is key to a successful year end.

Capacity Planning
All this extra business sounds great and it really is - unless you don’t plan ahead. In addition to good timing, a targeted business approach to hook customers is key. Not only maintaining a steady volume of orders, but being able to level these orders. Managing high volumes of orders and abrupt surges in sales will help your small business avoid fulfilment bottlenecks. Stocking up ahead of time helps ease fulfilment problems during periods of business spikes.

Finding the Right Medium 
We’ve all been there - it’s a few days before a special holiday and we still can’t find that perfect gift. Whether you’re a good planner and get all your shopping done in time or not, having options makes the whole process a lot easier. That’s why finding the right selling medium can make or break year-end. Taking advantage of less traditional selling methods, such as e-commerce, can help diversify your customer base and reach. If e-commerce is an option, other components such as free or flat-rate express shipping upgrades can incentivize consumers to increase orders. This can in turn create incremental sales boosts and offset other costs.
Of course, e-commerce is not suitable for every business so finding what works best for your business and making it work for you and your customers is the best approach. Pre-sales and extended promotion deadlines are a great way to keep customers interested. They help customers leverage their options however, there is a fine balance between convenience and losing the lucrative nature of flash sales and ‘today only’ promotions. Again, timing is everything and this needs to be considered in the framework of your specific business model.
Promotion
Other things that incentivize customers to support your business are competitions, giveaways and engagement across social media. During the holiday season, people are looking for inspiration online and the more you cater to what the consumer is seeking, the higher the return rate. The holiday season is not just about making sales but also about making lasting connections that build a relationship between a business and its community.
At the end of the day, it comes down being prepared for the holidays. Ensuring a smooth transition into high volume, key selling periods is the best way to get your business out of the holidays stronger than it was before. Instead of scrambling to fulfill holiday orders, finish the year on top by planning ahead and stocking up in time!

By Juliana Schneider

Increased productivity is key to operating a successful small business. Advances in technology and changing customer expectations have created a need for higher productivity for businesses. Canadian entrepreneurs not only have to compete with their North American counterparts, but also with companies in other countries where labour costs are a fraction of what they are here.

“Productivity” is traditionally measured by comparing how well your business converts input, such as labour, materials, machines, and capital into goods and services or output. Nowadays, this is no longer limited to measuring ratios of input and output. Increasing productivity is all about working smarter.

Here are some key strategies that can help you increase your small business’ productivity:

Use technology to improve your operations. Invest in ICT.

Web-based information and communications technologies (ICT) can help you dramatically improve how you run your small business. Production management tools vary from spreadsheets to generic software solutions or business-specific, custom-developed apps.

A great example for this is getting a smart inventory control system. This can enable you to not only regulate inventory but also improve profitability and speed up customer response time. Online order management systems combine your company’s inventory information with your purchasing, accounting and e-business systems. This lets you easily track order status and movement of inventory within the company. You can easily identify peak and low periods in your business and adjust supply purchases accordingly, managing your working capital better.

Often, small businesses tend to overlook the importance of a web presence. Good web presence this can really improve visibility in the market. Everyone is on the internet today. For most businesses, the target consumer is easiest to connect with via the web. Even if you invest in other channels like tv and radio for exposure, don’t ignore the value of a well-maintained website. There are many design companies offering web solutions customizable to your needs. Shop around to find the right fit. It's a small investment that can go a long way for your business - plus with plug and play ecommerce, it's easier than ever to sell your products online.

It's important to stay updated on new technology relevant to your business operations. Make sure your business is taking advantage of the latest innovations to improve productivity. The easiest way to stay updated is to do a bit of research. Attending trade shows is also a good way to stay on top of new tech since software vendors often advertise at these events. Another good idea is to network with other companies in your industry who may have tried and tested new tech you are interested in. Knowing what technology competitors are implementing can narrow down your search for industry-specific solutions that might work for you.

Cut waste. Review your existing setup.

One of the main reasons for inefficiency in an organization is the waste of resource. Left unchecked, especially for small businesses, wasted resourced will almost always end in the death of your venture.

The best way to spot mismanaged resources and avoid waste is to look at your processes from the point of view of a potential investor. Keep in mind the overall objective and vision behind your business, and ask yourself if the processes in place meet those goals and add value.

It's important to accurately map each process in relation to the general operation of your business. This helps you get a thorough understanding of the links between the different elements of your production chain. Once you go through this, you can better identify and eliminate wasteful practices and processes within your company.

Implement formal continuous processes to measure and improve productivity.

Improving productivity of your operation is an ongoing effort, so it's important to set up an ongoing improvement plan.

Start by analyzing your competition and the best practices in your industry. Instead of copying plans from other businesses, use the information to develop a plan that works for your company.

If possible, get an objective assessment of your business’s weaknesses and strengths using a third party. An objective viewpoint makes it easier to avoid overlooking details when building a plan to improve productivity and redesign processes.

Take a step-by-step approach to improving productivity, rather than trying to tackle all the issues at once. Focusing on a few priorities at a time lets you see results faster, motivating you and your team to keep going. Similarly, delegate and assign problems or processes for a redesign to teams with expertise in the area.

It might seem like a small thing, but a formal suggestion system for employees to contribute ideas is a great way to get feedback on how your business can function better. Keep an eye out for breakthrough accomplishments. Even small improvements can majorly contribute to increasing productivity.

Finally, make sure to measure your productivity over time. Diligently measuring your productivity will help you track what changes are actually working for your business. You need to know exactly which core functions are helping you increase revenue and productivity.

Before you invest in efforts to optimize, familiarize yourself with the current and future needs of your business.

Measuring and improving productivity will generate tangible benefits for your business. For an SME to grow it's crucial to measure your business’s productivity against formal metrics. Most entrepreneurs expecting at least 10 per cent plus annual growth over three years comprehensively measure their productivity.

The state of regional economies is often a talking point between entrepreneurs and consumers alike. I mean, who doesn’t want increasing access to life-enhancing goods and services? Small businesses and local entrepreneurs have a unique ability to drive regional economic growth whilst maintaining a core built on community. From investments to offering new opportunities, small businesses contribute to creating thriving communities and strong social fabrics. All these are reasons to celebrate, so, let’s take a closer look at some of the ways in which small businesses drive regional economies.

Investment into local products and services is one way that entrepreneurs and small businesses increase regional economic growth. Even more so than that, people are being invested in. They are being given the opportunity to expand their ideas which can, in turn, have large payoffs for the economy. People are constantly looking to solve problems in their communities but unfortunately, lack of capital often hinders this. Investing in people and their ideas fuels innovation. Innovation creates competition, which again drives innovation. Innovation leads to more effective solutions that reflect both in customer satisfaction and the environment. 
Technology has made it easier for businesses to expand and become accessible to a vaster range of potential consumers. This allows for greater economic activity, even in remote areas. New technology increases the efficiency of small businesses by allowing them to enhance their customer experience. Further, new technology improves a company’s operations efficiency. Improved operations efficiency means better customer service. Better customer service means more opportunities to gain customers. Access to more consumers funnels economic growth for small businesses which are then able to hire more employees and further support their communities.
Employment opportunities spring up all the time for small businesses. As they grow and branch out, more teams will be needed to ensure quality customer service across business locations. Further, small businesses are known for providing opportunities for many people with varied work experiences. More personal relations allow employers to give chances to recent graduates or even students through internship programs. As a result, a small business benefits from new and innovative individuals eager to get the ball rolling on their careers, whilst also providing them valuable work experience. This work experience is not to be minimized. It can help steer young professionals onto the right path when it comes to their career and the more passionate individuals are about their careers, the greater the benefit for the community.
Small businesses tend to keep money local. Success of local business also means more local capital which can improve schools, after school activities and other public programs. Needless to say, extra funding towards communities can help people access better services and provides more opportunities, especially for youth and the elderly. 
All in all, small businesses are helping regional economies grow. Entrepreneurs are giving people opportunities to follow their passions and solve problems through creative and efficient means. Our communities would not thrive nearly as much without small businesses, show them some love!

By Juliana Schneider