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Challenges your business can face

Posted on March 1, 2019 by admin

Owning and running a small business comes with positives and negatives that maintain a balance. When the negative elements start to outweigh the positives, you have a problem. Every business will face challenges along the way, the trick is knowing what they are and how to deal with them.

Clients and customer service:
A business is nothing without its clients but that doesn’t mean they are necessarily easy to work with. In the digital age, everyone is heard, meaning good client relations are vital to having a positive business image. Growing your client base comes from well-planned marketing techniques and knowing what your audiences want from you. There needs to be a healthy balance between supporting your existing customers and sourcing new ones, you should not neglect either area.

Data/Technology:
With technology ever growing, some small businesses can find it hard to keep up. For a business to continue to thrive, it needs to be able to grow and adapt to the changing market. For this reason, many businesses hire younger workers to run their social media because they don’t understand it themselves and expect the younger generation does. While having a dedicated worker to look after areas you may not be familiar with, you should have a basic level of understanding about what this technology is actually doing to aid your business.

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Types of business structures and which is best for you

Posted on September 24, 2020 by admin

An important decision to make before you start a business is what structure your business will run under. This will reflect into all facets of your business, so you should spend time understanding the implications of each structure.

Sole Proprietorship

Partnership

Company

Trust

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