Acceler8Success Cafe Friday 11.13.20

5 Ways to Help Your Small Business Survive During the Pandemic

Covid has been the ultimate disrupter to the global economy. Fortune 500 companies and small start-ups alike have felt the blow, but it’s the small businesses that have suffered the most.

Small businesses are the backbone of the U.S. economy. According to the World Economic Forum, small businesses are responsible for employing nearly half of the private sector workforce. However, during these volatile times where social distancing measures have been put in place and mandatory shut-downs have happened, many small businesses have not been able to survive.   

In September, Yelp released its latest Economic Impact Report revealing business closures across the U.S. are increasing as a result of Covid. According to Yelp data, permanent closures have reached 97,966, representing 60 percent of closed businesses that won’t be reopening. Read more.

Veteran Entrepreneurs and Small Business Owners Adapt and Overcome Unprecedented Challenges

“This year, military veteran entrepreneurs have seen their businesses shuttered or put on pause by the pandemic, faced supply chain issues, and have had to continuously adapt operations in response to changing realities on the ground. This year has also shown a spotlight on an issue that has persisted for too long: the systemic racism in our nation that creates barriers to entrepreneurship for entrepreneurs and small business owners that are Black, Indigenous, and People of Color. With that awareness, Bunker Labs is creating a space that helps entrepreneurs overcome challenges posed by the pandemic and systemic racism by providing the tools, resources, and inclusive community that facilitate growth,” said Bunker Labs CEO Blake Hogan. Read more.

Survey: Small business owners’ uncertainty increased in October

More small business owners throughout the country expressed feeling uncertain about their economic future in the month before the election, although general optimism remained steady, according to research by the National Federation of Independent Business.

The NFIB’s Uncertainty Index increased by six points to 98 in October, while the Optimism Index held at 104. 

“Leading up to the presidential election, small businesses continued to focus on stabilizing their businesses but were uncertain about the future economic conditions due to COVID-19 government regulations on all levels,” said Bill Dunkelberg, NFIB’s chief economist. “We see solid momentum going into the fourth quarter, and another good quarter could get the GDP back to its 2019 closing levels.” Read more.

If you wouldn’t think about building a house without blueprints, why would you consider building a business without blueprints? Like plans for a home, business blueprints should include each component necessary for long-term benefit. Franchise Foundry can help ensure you have the right blueprints specifically for you as you explore the American Dream of business ownership! Learn more.

Five Emerging Disruptive Technologies For Entrepreneurs To Observe

While there are endless articles highlighting the benefits of artificial intelligence (AI), augmented reality and blockchain, there are other emerging technologies that are often neglected by entrepreneurs. These technologies have the potential to completely disrupt the aerospace, health and manufacturing sectors. In this article, will explore five potential breakthrough technologies and how I believe they will converge. Read more.

Election Results Frame Positive Future For Franchising

This 2020 election season has been one like no other. The months leading up to election day — and indeed the days following election day — have been both passionate and tumultuous. With the election now over, the future for franchising is predictable and promising. Read more.

Franchise Foundry represents a number of quick service restaurant (QSR) brands realizing year-over-year sales increases.- Low initial investment – Funding support- Site selection assistance- Small real estate footprint- Support & training- Multi-unit opportunities- Multi-brand opportunities. Learn more.

SBA Loans: What Is an SBA Loan?

When a small business owner needs financing, the first option to come to mind is usually a loan through the Small Business Administration (SBA). While many people are familiar with the term “SBA loan,” they often aren’t clear on what these loans are, or even how to get them. We’ve provided a general overview of the common SBA loan programs to help you decide which programs may fit your business needs best.

The SBA provides several small business financing options. The six most common loans offered by the SBA are 7(a) loans, 504 loans, CAPLines, export loans, microloans, and disaster loans. We have summarized the basic requirements, costs, terms, and application process for each of these SBA loans. Read more.

Small Business Administration (SBA) Loan

Benetrends has been securing SBA financing  for 35+ years and has one of the best loan approval success rates in the industry. With a large and expanding network of lenders, you will have choices when it comes to selecting a loan.  You’ll also have access to our dedicated staff – experts in loans for businesses – to ensure the fastest possible application processing, including a dedicated loan closer to assist with the closing process. Learn more.

Acceler8Success Cafe Thursday 11.12.20

How to Overcome First-Time Entrepreneurial Fear

Picture this: you’re swimming across the open ocean, but have no idea where you’re going. Slowly, but then all at once, the panic sets in. The sea is massive. It’s terrifying. Very quickly, it begins to swallow you up.

You need a plan, or you’re going to drown. Unlike a regular job where your boss gives you tasks to do every day, you’re your own boss. Read more.

The Voices Of Entrepreneurs, From Arkansas To Appalachia To Montana

When we lose small businesses, our divisions deepen. In the 30 years leading up to the Great Recession, fully 80% of metro areas experienced an increase in the number of firms annually. This trend was completely reversed by the Great Recession, after which only 20% of metro areas have seen an increasing number of companies created. New business formation has been depressed in most of the country. Read more.

Dark Truths About Entrepreneurship: What To Do When The Love Is Gone

So you’ve decided you want to be an entrepreneur, huh? City slicking between meetings at the pace of a cheetah and hunting to close the next deal, secure the next partnership, make the next sale. There was an allure to this life that drew you in. Or perhaps, you started simply because you wanted to support your family and being self-sufficient made sense. 

If you’re reading this, it’s highly probable that you’re already living the entrepreneurial “dream.” Yet, it can fast become a nightmare for some. There’s a dark side to this path — and plenty of struggle for those who choose to walk down it. Read more.

Are you ready to franchise your business or put your recently franchised brand on the right track?

10-Step Roadmap to Franchising Success

You’re intimately familiar with your starting point – the business you’ve nurtured and grown. You understand your destination – successful franchises around the country or around the world. You have the passion and the proof of concept, but you don’t have the roadmap to move from point A to point B. You’re not alone. 

Most business owners looking to expand into franchising are both anxious and excited, unsure and confident. It helps to learn from those who have traveled the road on which you’re about to embark, both to avoid the potholes and to recognize the markers that lead to success. Read more.

Follow This Entrepreneur’s 3-Step Approach to Cultivating a Killer Brand

Branding is the most commonly used phrase in business circles, but is also often the least understood.

For Jonathan Jadali, CEO of Ascend Agency, a PR form that works with top Fortune 500 companies, a brand is not a tangible thing. As he told me in a recent conversation, it is “a strong feeling that a business creates in the minds of its customers, that creates an emotional bond and passion for their businesses and produces loyalty.” Read more.

If you’re looking for a business lending source to help finance your start-up or manage your future wealth, contact us today. Benetrends Financial, a pioneer in the industry, has helped thousands of potential small business owners like yourself secure funding over the past 35 years. Learn more.

Acceler8Success Cafe Veteran’s Day 11.11.20

On this Veteran’s Day let’s keep in mind the following quote by George Washington…

“The willingness with which our young people are likely to serve in any war, no matter how justified, shall be directly proportional to how they perceive the Veterans of earlier wars were treated and appreciated by their nation.”

Veteran Entrepreneur Portal

The Veteran Entrepreneur Portal (VEP) is designed to save time with direct access to the resources necessary to guide every step of entrepreneurship. It also makes it easier for small businesses to access federal services, regardless of its source—and quickly connects Veteran entrepreneurs to relevant ‘best-practices’ and information. Learn more.

Entrepreneurship Center offers help as businesses adapt to the pandemic

After a spike in unemployment due to the pandemic, many businesses and entrepreneurs are still trying to catch up.

Kristin Gaspke, who leads WCC’s Entrepreneurship Center, said there’s help for new and existing businesses. Last month, Gaspke and the EC team hosted a four-week Zoom webinar titled “How to Start and Optimize Your Business.”

“99% of what we do in the Entrepreneurship Center for the WCC family is free. We offer all of our programs to everyone. If you look at the pictures on our website, I can tell you the story about each student in the center at that time and where they are now,” said Gaspke. “Today, some of them are still local business owners.” Read more.

The story of the Shop Small® Movement

Small Business Saturday continues to be an annual holiday shopping tradition — just one part of the larger Shop Small Movement that supports small businesses every day and everywhere. Because shopping at a family-owned framing spot or buying a handmade ring from your favorite online small business helps to promote more vibrant communities. Learn more.

Over the next two weeks leading up to #SmallBusinessSaturday we’ll be posting photos like the one below to continue to create awareness that franchises are small business just like Mom & Pop businesses on Any Street, USA. And, just like those independent business owners, franchise owners take entrepreneurial risk, invest their life savings, work long hours, give back to their local communities, compete with big box retailers and much more. Please help in this cause by sharing these posts across social media. #ShopSmall #ShopLocal #ShopFranchise

How Small Businesses Can Adapt to Changing Consumer Behavior

Small businesses have faced immense challenges as they’ve been fully or partially shut down during the coronavirus pandemic. According to U.S. Census data, nearly 80% of small businesses reported a moderate or large negative effect from COVID-19 as recently as of mid-August.

But after a difficult spring and early summer, during which time one in five businesses reported applying for and receiving loans from the Paycheck Protection Program (PPP), the landscape is beginning to look up. Small businesses are increasingly reopening, with 86% reporting that they are either fully (52%) or partially (34%) open. Read more.

The Secret to Business Survival in Today’s Tough Market

As we were ringing in 2020, it’s safe to say that nearly no one could have imagined the novel year that was virtually at our doorsteps. Like a monsoon, Covid-19 arrived. And with it a plethora of changes to not only how we live and work, but how business is conducted.

Quarantines and lockdowns became a way of life, forcing companies to transform how they operate. Office staff, sales reps, and others who were considered non-essential workers began working from home. In person meetings and sales calls became a thing of the past, replaced by collaboration tools to boost the efficiency of virtual teams. Read more.

Accelerating Success for individuals and brands alike!