5 small business trends you should be prepared for in 2020

The Internet has turned local markets into global ones. Globalization and eCommerce have made competition harder but, at the same time, opened broader and newer markets for everyone. Now even small retailers can reach customers on the other side of the globe, but must also contend with rivals spread across continents. Hence, it is critical that you keep your finger on the pulse of changes happening around you.

I recently put together a list of some critical trends that EVERY small company must invest in. Now depending on your particular industry and business, you can decide how much investment you want to expand on each of them – but one thing is certain; you can't ignore any of them.

1. Personalized Customer service: Customers have come to expect and demand faster services and tailored solutions. They expect more than just a straightforward buy and sell arrangement, they want to know the business and be a part of its journey. They want to feel a connection. To create this intimacy, many businesses will have to implement some sort of solution that shows special love to their customers. This could either be excellent in-store customer service, focused ad campaigns, or hyper-personalized products – depending on your industry, you will have to come up with innovative ways to connect meaningfully with your target audience.

2. New digital media: Digital marketing has become more competitive in the last year or two. The field is getting increasingly crowded, and budgets must expand to get results. Also, 2020 sees some drastic changes - voice search is growing by leaps and bounds and is all set to be the next big disruptor; content marketing, albeit with video as big part of it, is going to take the lead in maintaining online brand reputations and organic traffic is losing steam. There are too many people putting out great social media content, you have to put in the money to get traction in the market.

In short, find new channels or put in more money.

3. Online reviews become even more critical: For many small businesses, especially the ones in retail, food, or entertainment industries, online reviews are now even more important than before. To make a 100% positive customer experience, in reality, you have to invest in online reputation management. Just like social media – trying to get organic reviews is an uphill task. You have to reach out proactively to customers, be exceptionally responsive and hire professionals to manage your online reputation.

4. Sustainability: The need of the hour is sustainability! It is critical for ALL businesses  - regardless of size and industry – to go green. It is vital to the environment, and the customers demand it. There is a huge uptick in clients inquiring about the sustainability credentials of businesses, and they are now willing to pay extra and change brands to help the earth.

5. Cybersecurity: While small businesses - especially the ones with a location or store - are usually more worried about their physical security, but now it is time all of us start thinking about cybersecurity too. It is reported that 43% of cyber-attacks are focused on small businesses, and no industry is off limits! You are not too small or too offline to escape, and it is imperative to put some safeguards into place.

Now, clearly, the only thing stopping business owners from keeping up with these trends is MONEY. Here I suggest you follow my example! I wanted to implement measures to keep up with my industry trends and approached New York-based alternative lender – Cresthill Capital for a financing offer! It turned out to be a sound decision! I have no Cresthill Capital complaints and recommend you try out alternative lending institutions too.

Alternative Funding And Financing Tips For Women Small Business Owners

Over the last few years, the number of women-owned businesses in the U.S. has grown by 45%, which is five times faster than the national average in the country. The data indicates that more women are coming to the forefront to start their businesses. So, it makes sense to have alternative funding options, specially designed to encourage women, small business owners.

(Read through Cresthill Capital reviews for more insights). Going the traditional way has become difficult for small business owners since the 2008 recession has hit us hard. A Dun and Bradstreet and Pepperdine University study reveals that only 30 percent of women small business owners get successful in passing through the traditional way as compared half of all the business owners.

With all these in mind, if you are wondering how to kickstart your small business with limited funds or give your business a little bit of extra boost, then alternative funding is the best way to go forward. Take a peek at Cresthill Capital offers to get details.

Alternative funding options for women-owned small business owners

There are plenty of online lenders and alternative funding options where you can find ample funding options to give that extra little push to your small business. If you’re skeptical about them, read Cresthill Capital reviews and see what other business owners are saying.

Designed for women or not, most of these alternative funding options are perfectly designed to meet your business goals. From short to long term with favorable repayment terms, alternative funding comes as a boon. Let’s understand the different alternative funding options available for small business owners.

Merchant cash advance: If you are going through a short cash crunch, a merchant cash advance may come in handy. Different merchant cash companies offer to lend you cash – the amount could be anywhere up to $200,000. If you have an immediate cash requirement, then go for a merchant cash advance. Since the approval time is minimal (no more than 24 hours), you can expect to have the cash in your hand within a day.

It is a perfect solution when you lack a few hundred or thousand dollars to give help your business. The repayment terms are flexible and easy, usually lasting only for a couple of years. The working principle of merchant cash advance is simple. It lets you take the benefit of your future income to access cash in the present. Once you receive the fund, you can repay it by a percentage of your daily credit card deposits, which is usually withheld by the cash lender.

Equipment financing and leasing: This is another form of alternative lending that helps many small business owners, including women small business owners. If you think you need equipment to do your job better, then you can make use of this financing option to purchase the equipment. On the other hand, equipment leasing is a perfect solution for those who don’t want to block their cash inflow by purchasing a piece of equipment that might not be in use long term. Equipment leasing is the best option for them.

Check out Cresthill Capital for all your alternative funding queries - they run a very minority centric business model that encourages and supports diversity in business. They have gone the extra mile to design several women-centric funding offers that offer extremely good rates.

Top 3 Services That You Can Outsource With The Help Of A Cash Advance

Most business owners would agree that running a small business is simply time-consuming. Managing inventory, production, serving customers, marketing, and dealing with staff are just some of the things that need constant attention. Where is the time to do anything else?

However, you could be using your expertise and mind space to think of new expansion plans, but that won't ever end up happening unless you take the time to think and experiment.

The answer to this dilemma is simple – outsource your work to experts with the help of fast, easy, and flexible cash advances from alternative financing companies like Cresthill Capital. So, here’s a list of some affordable business services that you can outsource to grow without compromising on quality:-

1. Customer support - While at the start of your business, dealing with customer calls in-house would have been manageable, with a growing business it can become more and more difficult for you and your staff to answer phone calls for several hours a day.

Here, applying for a quick cash advance for outsourcing to a call center with experienced staff is a great idea. Not only you get a trained professional handling your calls, but you also access the latest cloud-based call center software.

2. Marketing - There is little doubt that marketing is a specialized job. A quick look at the plethora of digital and social advertising options will be enough to convince even the most DIY business owner that hiring a professional agency or even a freelancer will get them better ROI on their advertising budget.

According to recent Cresthill Capital Reviews, while you might be able to manage social media posts and engagement in-house, utilizing a flexible cash advance for hiring a marketing agency will give you access to a professional team, strategic ideation, and the option of accessing add-on services.

3. IT - With new digital innovations bursting on to the business landscape with increasing regularity, it is not possible for you as a business owner to single-handedly find and leverage the best tools for your business. But thankfully, with several competitive IT service providers, you won't have to.

The only time and effort you have to spend on are applying for funds through an alt-finance company like Cresthill Capital and then hiring the right digital partner with that money. After that, it is their job to manage your existing business IT infrastructure and advise you.

So, if you feel that your business can profit from any (or all) of the services mentioned above, then don't waste time. Apply for a merchant cash advance now! As you know cost benefits will take some time to trickle in, Alt-funding can help with these increased costs.

Also, if you go through Cresthill Capital Reviews, you’ll find out that it is a company that is committed to helping small businesses grow by giving them access to timely, flexible, and fair business financing.

So, do get in touch and start expanding your business today.