Etsy, originally an artisanal marketplace, has grown into a major platform for creative entrepreneurs, boasting a $3.5B+ valuation as of 2015. The user-friendly setup and management, along with potential for significant supplemental income, make it an attractive option for those looking to monetize their crafts amid rising living costs. See this piece in Essence for more info.
A Facebook presence is highly beneficial for small businesses, offering tools to promote services, increase customer support, and boost sales to its 2.91 billion users. With targeted paid campaigns and a Facebook Business Page, businesses can efficiently reach specific audiences, engage customers, and enhance their online visibility while keeping marketing costs low. To read more details about tips and tricks for effectively using Facebook for your small business, check out this article in Business News Daily.
Despite an improving economy and record-setting consumer spending, small businesses are struggling to effectively market their goods and services, with many overwhelmed by marketing and lacking confidence in their current strategies, as revealed by a report from Constant Contact. Factors such as economic worry and time constraints contribute to this marketing anxiety, leading to a cycle of procrastination hindering small businesses from reaching their potential.
The glass ceiling, a metaphor for the barrier hindering women’s advancement in business, remains a persistent challenge despite some individual successes. According to this opinion piece in Entrepreneur, rather than solely fighting against the system, there’s a call for women to unite, support each other, and overcome self-limiting beliefs. Digital entrepreneurship presents an opportunity for women to bypass traditional barriers and achieve success independently. Taking proactive steps, rather than just discussing the issue, is emphasized, with the hope that female empowerment will continue to grow and eventually dismantle the glass ceiling for future generations.
The 2024 Bank of America Business Owner Report shows a positive outlook among small and mid-sized business owners, with an expectation of revenue growth and reduced concerns about recession. While inflation and interest rates are still on their radar, these worries have lessened compared to the previous year. Business expansion plans are in place for the coming year, with a focus on customer engagement and technological advancements to differentiate businesses. Small businesses are cautiously optimistic, with a majority expecting revenue increases, while mid-sized businesses show stronger confidence, with plans for expansion and hiring. Digital tools are being increasingly adopted to streamline operations, with AI implementation on the horizon for many businesses.