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Small Business Blog

Our blog is designed to be a "go to" resource for your small business. Here you will find valuable information and advice on launching, running, protecting and making your business a huge success.

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How can entrepreneurs build a great business plan?

How to write a business plan for your small businessBusiness plans help clarify small business goals, as well as the steps needed to achieve them. In order to attract attention from investors, writing a business plan detailing how you will implement your business’ strategy is imperative.

Learning how to make a business plan can seem daunting, especially when you’re new to running a business altogether. Here are the different pieces that all business plans should have, and why they are important. Read More »

Bookkeeping tips for small businesses

Bookkeeping tips for small businessesSmall business bookkeeping is just one of the many tasks every business owner must handle. Successful businesses know that in order to stay afloat, they need an efficient process for everything from tax forms to inventory.

Staying on top of your small business bookkeeping can be tough, but doing so will give you better control of your business expenditures and a better idea of your profit margin. Here are some tips to help you better manage the bookkeeping for your small business. Read More »

What is a sole proprietorship?

What is a sole proprietorshipBecause a sole proprietorship is the simplest form of business an entrepreneur can start, it is also the most prevalent small business type.

A sole proprietorship is a business run by a single owner. Because there are no other people involved in running your business, you are entitled to all of the profits gained, as well as responsible for all debts incurred by your business. Many sole proprietorships can even be run out of owners’ own homes, whether they manage their home design services from their bedrooms, or perform bookkeeping services for clients from their basements. Read More »

What is e-insurance and how can it help with your small business?

What is e-insurance and how can it help with your small businessE-insurance usage can lessen the burden of paperwork for small business owners.

A small business has enough to worry about without having to keep track of its insurance paperwork. E-insurance accounts, launched on the Insurance Repository System (or IRS), allow small businesses to store insurance statements and policies electronically, all on a single platform. Aside from providing an easy way to remain organized, here are some other benefits of e-insurance. Read More »

What types of small businesses are women starting?

What types of small businesses are women starting

With the kids in school – or maybe out of the house for good – some moms may have time on their hands. There are plenty of small business ideas for women that could lead to more moms becoming mompreneurs. Deciding to start a small business may be the next logical step for moms looking to enter the workforce again.

Why should dadpreneurs get all the fun of starting their own small business? There are an increasing number of industries in which women are thriving. Here are some top small business ideas for women entrepreneurs.

Event Planning

If you enjoy organizing and keeping hectic lives in order, event planning can be a great way to do something you’re skilled at and get paid for it. From children’s birthday parties to wedding festivities, there is high demand for event planners to alleviate the stress that comes with planning a big party. Because event planners prepare for the worst, your clients will feel safe knowing their event is in good hands. Read More »

Top 10 small businesses to start

Top 10 small businesses to startAre you thinking of making a career change? Choosing your own small business to start is no easy task! With the right amount of research and luck, you can build a lasting venture.

Choosing the right type of small business to start is challenging, but here are some of the top industries for burgeoning entrepreneurs.

  1. Event Planning
    Party planning can take up a lot of time and resources, especially if you want the event to be memorable. Event planners step in and alleviate this burden, providing clients with equipment and organizational skills to prevent headaches and mistakes before they occur.
  2. IT Consultant
    The role of technology within the workplace has become much more prominent in the last few decades. As businesses grow, there is a larger need to keep backend technology running smoothly. IT consultants can be contracted out to businesses on an as needed basis, whether employees need help installing software or resolving problems in their system.
  3. Read More »

3 tips for small business owners on marketing to Hispanic millennials

3 tips for small business owners on marketing to Hispanic millennials

Guest blogger Alison Feliciano of MyCRD.org, shares tips for small business owners to connect with Hispanic millennial buyers.

Small business owners can use these tactics to connect with Hispanic millennial buyers.

In honor of National Hispanic Heritage Month, the Hiscox blog is featuring small business tips from Hispanic and Latino small business owners. Below, entrepreneur Alison Feliciano, founder and owner of MyCRD, a credit restoration company, shares tips for marketing to Hispanic millenials.

I just recently learned the term “Millennials”. That is what they call individuals born between the early 1980’s and 2000. This generation is a generation of power consumers that no business should ignore. But the other thing that shocked me even more is that one in five American millennials is Hispanic.

I am a firm believer that if a small business is not marketing on a multicultural platform you will be leaving money on the table. Here are a few ways you can expand your existing marketing to target Hispanic millennials.

  • Via Text Message – Of all demographic groups in the United States, Hispanic youth text the most. A recent study revealed that Hispanics age 14 to 17 send up to 100 text messages a day. That statistic compares to the 50 messages for white youth and up to 80 for black youth. The median cellphone user on the other hand, sends an average of 10 texts per day. Implementing a texting campaign would be a prime place to reach Hispanic millennials.

    As a parent of two teens, I know that teens are obsessed with their cellphones. It’s as though it’s an extension of   their body, which sometimes drives me nuts! But as a business owner, I understand that if I ignore this fact, that it could  cause me to lose potential income.

    There are platforms such as Ex Texting and Mobivity that allows business owners to collect customer feedback, send promotions and even remind clients of appointments – all via text.

  • Read More »

This fall, reinvigorate your small business with a conference

This fall, reinvigorate your small business with a conferenceFall is officially here. Use the change in seasons as an opportunity to focus on your professional development.

For many, fall is traditionally a time of reinvigoration, when entrepreneurs and small business owners “buckle down” after the summer to finish the year productively.  While you’re refocusing efforts in your business consider attending a small business conference, which can give you new perspectives, new knowledge and new connections – all of which you can use to end the year the way you want to.

Most conferences, whether national, regional or local in scope, offer the kind of amped-up energy and communicating with fellow entrepreneurs that you can’t find anywhere else.  Industry-specific conferences often offer CEUs (Continuing Education Credits) that you need anyway. Larger and more well-established conferences usually have exciting keynote speakers and inspiring awards shows. Small local conferences allow you to meet and get to know fellow business owners you may be able to collaborate with right away. Read More »

National Hispanic Heritage Month: Hiscox celebrates Hispanic and Latino entrepreneurs

National Hispanic Heritage Month - Hiscox celebrates Hispanic and Latino entrepreneursHiscox recognizes Hispanic and Latino business owners and entrepreneurs in honor of National Hispanic Heritage Month.

First started in 1968, and legally-recognized as a national celebration since 1988, Hispanic Heritage Month celebrates Hispanic and Latino heritage from September 15 to October 15 each year.  The month recognizes the contributions that these cultures and individuals make to the United States, both culturally and economically.  And there’s no underestimating the economic contributions, especially when small business ownership is concerned.

There are 3.2 million Hispanic-owned businesses in the United States, which a new study from consultancy Geoscape estimates will generate $468 billion in revenue this year.  Other recent research shows that immigrants are 27% more likely to start a business than native-born Americans, and U.S. Census data reports that Hispanic entrepreneurs opened twice as many businesses as the national average in the 2000s. Read More »

Use National Preparedness Month to ensure your small business is disaster-ready

Use National Preparedness Month to make sure your small business is disaster-readyRead below for tips to ensure your business is prepared for a disaster.

We’re in the midst of the 11th annual National Preparedness Month, started and sponsored by the Federal Emergency Management Agency (FEMA).

These 30 days encourage individuals and businesses to prepare for emergencies, including natural disasters, weather events, pandemics and terrorist attacks, and it’s the perfect time to take stock of your small business disaster preparedness and make or adjust your preparedness plan. Read More »

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