By Betsy Markey
Special to The SUN
Small businesses today can offer customized delivery options for customers and manage employee payrolls with a swipe of a screen or click of a button. A useful estimate based on a 2009 study conducted by the Ewing Marion Kauffman Foundation puts the average cost of starting a new business from scratch at just over $30,000.
Business plans can help you get funding or bring on new business partners. Investors want to feel confident they’ll see a return on their investment. Your business plan is the tool you’ll use to convince people that working with you or investing in your company is a smart choice.
Digital tools like these are helping small employers compete with big firms, small business preparation, keeping dollars on main street and spurring local economies. Integrating the right technology for your small business in today’s modern economy can be challenging, but it is also increasingly essential. The good news is you don’t need to do it alone.
Startups are typically online or technology-oriented businesses that can easily reach a large market. To operate a small business, on the other hand, you don’t need a big market to grow into. You just need a market and you need to be able to reach and serve all of those within your market in an efficient way.