The Business Buzz

There are over a million small businesses in the U.S., and the vast majority (close to 90%) have less than twenty employees. Small business owners often get started because they want to pursue a passion or be their own boss. However, the tradeoff for escaping the corporate world is that they have less scaffolding, support, and guidance on how to make their business bloom.

The fact is that 20% of small businesses close after one year, and only 30% make it past a decade. What sets the businesses that make it apart from those that don’t? Education is key. As Robert Kiyosaki (author of NYT bestseller Rich Dad Poor Dad) writes, the greatest asset an entrepreneur has is their own mind.

Learn the ropes of SMB do’s and don’ts. How should you plan around inflation? Is a seasonal pop-up shop a good idea for your brand? What B2B marketplaces are worth your investment? Can you win back customers who have already left? As you can see, the range of topics relevant to “small business ownership” is vast.

Many of them circle back to payment solutions. In an era of cloud-based software and integrations, payment processing is connected to inventory, accounting, analytics, and even HR. Take a look for yourself and see how many topics in business management have to do with the partners you choose for accepting debit and credit card payments! Along the way, you’ll be sure to glean some great insights no matter what industry you’re in.