Some federal contractors couldn't get paid. Companies that wanted Small Business Administration -backed loans had to wait longer for approvals. HIRING In January, small businesses added 106,000 jobs, according to payroll provider ADP. But optimism about a small business hiring boom dissipated as the number of new jobs fell in February and then averaged nearly 70,000 through October. Owners said they weren't planning to add workers because they didn't have the sales to justify the expense, or they didn't need to hire to grow, according to an American Express survey back in the spring. Uncertainty about health care also made them wary. Through most of the year owners stuck to those plans, but near then end of the 2013 there was a glimmer of hope. ADP reported that small businesses created 102,000 new jobs in November. More insight that could bode well for small business hiring next year, came from a Bank of America survey. Thirty-one percent of owners questioned in the fall said they planned to hire, and 56 percent of those owners said they needed employees to boost business in 2014. That could be good news for the broader economy because more than 99 percent of U.S.
5 Small Business Mistakes To Avoid In 2014
Prices start pretty low for this kind of marketing, so now is a good time to look into it. 3. Being chained to your computer:In some ways, its fantastic how rarely a small business owner feels a need to leave their computer to do business. Tasks that used to mean travel (whether its just to the next room or across the world) now can happen without ever having to get up from your desk. That is undeniably pretty cool. But at this point, maybe its time to stop being amazed at the coolness and convenience of modern business technology, and start actually examining which old-school methods are worth holding onto. This tech audit will surely look different for every small business, but weve found this is a good bottom line to aim for: do everything you can to preserve face-to-face interactions. Just trust us. Any time its possible, suggest a coffee or lunch meeting instead of volleying emails all day. It can end up being a time saver, not to mention the invaluable forging of relationships that result from personal contact especially during a time when its increasingly rare. Simply meeting in person is enough to make you stand out and stick in someones mind. Be that person. 4. Blaming the government for anything:Yes, Obamacare . Yes, government shutdown. Yes, fiscal cliff. Listen, the government has undoubtedly been active in the past year in a lot of ways that are impactful for small businesses. Were not saying these issuesdontmatter to you and your business.
13 Small Business Tasks to Complete By the End of 2013
Build Your 2014 Map Dont forget the big picture while youre working on the smaller tasks at hand. You need a vision for your future. Where are you going in 2014 and what are your goals? Hold Annual Reviews Its the perfect time to discuss performance with your employees and let them know how they can help the company run at its peak performance. Take time to praise them and listen to their concerns one on one. Hold an Open Forum Your employees work with your customers day in and day out. Thats why theyre often the best people to help suggest ways to make your customers happier. Hold a year-end forum that encourages your employees to share any ideas they have. This is one of many ways to keep your employees happy and show them that you value their input. Review Your Insurance Policies Oftentimes insurance policies are drawn up and then forgotten about until theyre needed. At that time, business owners personal information management may realize that they dont have adequate coverage. Go ahead and review your policies with care it could potentially save you a lot of money. Touch Base with Your Best Customers Let your customers know that you appreciate their business. Take some time to find out if theres anything else you can do to improve or help improve their experience with your business. Send a letter or survey out its a simple way to show you care about your customers needs and encourage constructive feedback. Check Out Your Business Cards Youre probably handing out your business cards to a bevy of people. Review your business cards to make sure all of your information is accurate and up-to-date and that the layout matches that of your website. Look Over Your Budget The reason you prepare a budget is to compare it to your performance and see how youre doing. Check and see what you did right and where you can improve. The power of a budget is in the analysis.
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