Providing a personalized shopping experience may encourage customers to become repeat buyers. Rieva Lesonsky offers four steps for incorporating personalization into your marketing, including identifying valuable customers and rewarding loyalty.
Small-business owners learn from hard-earned experience, and many say they would do things differently if given a chance. Several entrepreneurs share lessons learned, discussing issues such as business names, pricing and risk management.
A study suggests that employees from different generations are aligned in wanting leaders who encourage innovation and collaboration, write Mark Fowler and Noal McDonald. People of all ages also want open lines of communication and the knowledge that their input is appreciated, they write.
Lending to small businesses is vibrant, writes Biz2Credit co-founder Rohit Arora, who examines the situation regarding big banks, institutional investors and alternative lenders. Big banks approved 25.7% of small-business funding requests last month, and small banks granted 49.2% of requests, data show.
Entrepreneurs should avoid certain common mistakes when opening business bank accounts, writes Sammi Caramela. These missteps include having incorrect paperwork, selecting the wrong bank and letting account balances get too low.
Loans backed by the Small Business Administration may have appealing terms, so this article discusses the process for securing this type of financing. Lenders may request documentation including year-to-date financial statements and tax returns from recent years.
The strong economy is good news for small businesses, but the Federal Reserve's plan to continue raising interest rates could increase borrowing costs. Entrepreneurs can respond by improving their credit scores and reviewing their strategic plans.
Turn the Page Again, a used bookstore in New York City, is focused on providing job opportunities for people living with mental illnesses and preparing them for other positions. The store, which opened in 2010, gets its books from personal donations and through the Queens Borough Public Library system.
Ben Stein recreates tariff lesson from "Ferris Bueller's Day Off" in NRF parody ad campaign
To kick off a busy week on trade in Washington, D.C., NRF launched a TV and digital ad campaign to educate Americans on how tariffs are bad economics. In the ad, economist and actor Ben Stein recreates a scene from the movie "Ferris Bueller's Day Off" in which he lectures students on the negative impact of tariffs on consumers and the economy. Learn more.
MainStreet SmartStat: May 18, 2018
The Trump administration's proposed tariffs on $50 billion of Chinese imports, coupled with retaliation promised by China, would reduce US GDP by nearly $3 billion and destroy 134,000 American jobs annually. Source: Study by NRF and the Consumer Technology Association.
Retail networking dinners in Chicago and NYC
NRF will host regional dinners in Chicago and New York City in June to give retailers an opportunity to network and talk shop with their local peers. Space is limited and capped at three attendees per company. See the full schedule of dinners and reserve your seat. Learn more.
Ensure there is room for growth within your business bank account.