To support small businesses and their growth in the new year, Reliant Funding, a small business finance provider, released “The Guide to Expanding Business in 2020,” which provides information on all aspects of expanding a business in today’s customer-centric climate.
The guide gives SMBs a strategic overview of creating a growth plan, starting with when to consider growth and questions to ask before implementing a new strategy. The guide also walks SMBs through the components of successful growth with tips for marketing, hiring and funding investments.
“Many small and medium-sized businesses often struggle or stagnate when it comes to growth,” said CEO of Reliant Funding Adam Stettner. “It’s a tough hurdle to overcome — there are employees to be paid, inventories to manage and marketing opportunities to take advantage of – once companies get it right, expansion yields amazing results.”
Each year, more than 30 million SMBs create two out of three new American jobs and produce close to half of our nation’s goods and services. Surprisingly, only one-third of these businesses will reach the 10-year mark. Research shows cash flow, lack of market for products or services and ignoring customer needs are the top reasons businesses fail. This guide helps small and medium-sized businesses beat the odds by providing actionable ways to overcome these challenges.
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