Celebrate small businesses | Be The Boss

Celebrate small businesses

More than 33 million US businesses are registered as small businesses. Because the definition of what constitutes a small business varies by industry, it is very likely that many of the franchises operating in the country are small businesses.

Small businesses are vital to the American economy, creating jobs, bolstering communities and driving innovation. In May, we join the Small Business Administration in celebrating these small businesses and the people behind them.

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What is the Small Business Administration?

The Small Business Administration is an organization that supports entrepreneurs to access the capital, counseling and expertise they need to make their business dreams a success. It defines what constitutes a small business for each individual industry sector and provides advice and guidance to help business owners become established in a lawful and compliant manner.

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How can franchises be small businesses?

Because there is no standard definition of a small business, franchises can easily be grouped into the small business category based on their annual turnover and the number of people they employ. Franchising is a unique ecosystem in which small businesses can experience rapid growth and quickly establish a strong reputation in the marketplace without exceeding the turnover and employee figures that would see them leave the small business bracket.

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How to celebrate small businesses

If your franchise is classified as a small business, make sure to tell your customers about it. Explain how their support helps your business continue to deliver the excellent products and services for which you are known. Thank your supporters and encourage them to continue to frequent your business.

Often, customers can mistake a franchise business for being a large, faceless entity, so taking the time to remind them that the business is run by a specific, named individual can help to improve their connection to it, build their loyalty and drive word-of-mouth recommendations.

Other ways in which you could celebrate small businesses might include attending networking events such as seminars and trade shows. Not only do these events expose you to innovations in your industry sector, but they can allow you to share your experiences, make useful connections and learn from more experienced entrepreneurs.

Networking events are also an excellent opportunity to highlight any vacancies in your own business, to identify prospective franchisees, and to raise your profile by putting a face to your business name. By immersing yourself in positive events such as these, you will improve your own morale, learn useful lessons, and perhaps even grow your business.

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