Newsstand – Home Business Magazine https://homebusinessmag.com Home Business - Home-Based Business - Business Opportunities - Franchises - Business Start-up - Work From Home Sun, 30 Apr 2017 10:10:31 +0000 en-GB hourly 1 To Infinity and Beyond: How Entrepreneurism Is Making Space Tourism Viable https://homebusinessmag.com/newsstand/news/infinity-beyond-entrepreneurism-making-space-tourism-viable/ https://homebusinessmag.com/newsstand/news/infinity-beyond-entrepreneurism-making-space-tourism-viable/#respond Fri, 28 Apr 2017 17:34:59 +0000 https://homebusinessmag.com/?p=32172 In recent years, an unabashedly entrepreneurial project has been transforming entrepreneurial exploration.

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Going back to the dawn of civilization, many entrepreneurs have sought their fortunes through adventures of exploration. Mesopotamian entrepreneurs prospered by expanding their landlocked trade routes east to the Indus Valley (modern-day India) and west to Egypt and beyond. Several hundred years later, Phoenician entrepreneurs did so on the open seas, leveraging their superior nautical skill to establish profitable new trade relationships with previously unknown parts of the world – including West Africa and England. The same principle applies to the legions of successful Arab traders in the Middle Ages who made their fortunes from an extensive landlocked and maritime trade. And in recent years, another unabashedly entrepreneurial project has been transforming entrepreneurial exploration:

Twenty-First Century Entrepreneurs and “The Final Frontier”

In 1994 the American Society of Civil Engineers convened with businesspeople in Albuquerque, New Mexico, to discuss the technical and financial feasibility of space tourism, then still a hypothetical concept. Although the technical hurdles were believed to be significant, the attendees concluded that none of them were insurmountable. What worried them more was where the money would come from for the mammoth research and development efforts that would be required to make space travel both comfortable and affordable.



Since then, by funding those efforts that make ongoing improvements in rocketry and other technologies possible, entrepreneur’s like Britain’s Richard Branson and America’s Elon Musk have helped fill a vacuum left by the wavering public sector commitment to space exploration. Certainly, the U.S. government’s recent disengagement from its space program has yielded tremendous entrepreneurial opportunities for the pioneers of the space tourism industry.

Just like the exploration of the “New World” hundreds of years ago, the current exploration and planned colonization of space is being spearheaded by entrepreneurs. In 2001, in conjunction with the Russian Space Agency, American entrepreneurs Peter Diamindis, Eric C. Anderson, and Mike McDowell charged a wealthy Californian $20 million for eight days of space orbit. The early 2000’s was also when the likes of legendary serial entrepreneurs Musk, Branson, and Jeff Bezos founded their own space tourism companies.

In 2000, Amazon founder Jeff Bezos established Blue Origin. Named after Alan B. Shepard, America’s first astronaut, Blue Origin’s spacecraft is known as the New Shepard. The vehicle has tested successfully but additional improvements are slated to follow along with an online spaceflight reservation system.

Since its founding in 2002, Musk’s SpaceX (Space Exploration Technologies) has been at the forefront in the conceptualization and manufacture of efficient space rockets. In 2008, the company’s first rocket, Falcon 1, reached orbit successfully and, since its founding, SpaceX has had ten successful flights of its space vehicles to the International Space Station and continues to make pioneering advances in rocketry.

In 2004, the man behind Virgin Records and Virgin Atlantic (airline), Richard Branson, established Virgin Galactic to become “The World’s First Commercial Spaceline.” Since then, he has completed development of Spaceport America in New Mexico and has made significant advances with his SpaceShip Two vehicles. “I think I’d be very disappointed if we’re not into space with a test flight by the end of the year,” Branson told the UK’s Daily Telegraph in April of 2017.

The enormous progress made over the past decade and a half in space exploration owes a lot to the spirit and drive of entrepreneurs. This impact extends well beyond the realm of profit seeking and has proven to be crucial to the advancement of mankind. And it’s no surprise that like thousands of years ago in Mesopotamia, entrepreneurs are once again are seeking success through adventures of exploration.

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First-Time Franchisors Face Unique Challenges, Attorney Warns https://homebusinessmag.com/newsstand/news/first-time-franchisors-face-unique-challenges-attorney-warns/ https://homebusinessmag.com/newsstand/news/first-time-franchisors-face-unique-challenges-attorney-warns/#respond Fri, 28 Apr 2017 16:55:11 +0000 https://homebusinessmag.com/?p=32152 One of the toughest challenges facing a new franchisor is actually selling the first franchise, says Thomas M. Pitegoff, counsel in the New York City office of LeClairRyan and co-chair of the national law firm’s franchise industry team.

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One of the toughest challenges facing a new franchisor is actually selling the first franchise, says Thomas M. Pitegoff, counsel in the New York City office of LeClairRyan and co-chair of the national law firm’s franchise industry team. After all, who would take the risk of buying a franchise from an organization that has no existing franchisees?

A satisfied customer may initiate the franchising idea, even before the would-be franchisor has taken the first step to prepare an offering, but this rarely happens, writes Pitegoff in a recent blog, Testing a New Franchise Concept. His post appears in the firm’s Franchise Alchemy, which focuses on franchise law, franchise agreements and related issues.

Instead, if an entrepreneur already has a successful store, restaurant or other business that’s currently operated by a trusted manager, consider offering the first franchise to that individual, Pitegoff advises. “The manager will already know the business inside out, having successfully managed the business as an employee,” he writes. “The transaction would entail the sale of the existing business at a single location in which the buyer undertakes to continue operating as a franchisee of the seller. The buyer’s newly-formed company would sign a franchise agreement as part of the purchase of the business.”



To sweeten the deal, the franchisor could extend credit for a portion of the purchase price, or may waive the payment of any initial fee, and give a grace period on any ongoing royalty or marketing fee, Pitegoff says. But a first-time franchisor should also pay extra attention to a variety of regulatory issues.

“With only one franchisee, the franchisor is unlikely to include financial performance representations in Item 19 of the franchise disclosure document,” he explains. “And without providing numbers in Item 19, the franchisor may not discuss numbers orally. Only an existing franchisee can do that.”

Fortunately, issuing a single license should not trigger a federal requirement to prepare a comprehensive and costly disclosure document. Also, state laws will usually not be a concern if the outlet is located in a non-registration state – where franchise registration is not required as a condition to selling franchises in the state—but state-level business opportunity laws may still pose an issue, he adds. Some registration states—like Indiana, Minnesota, New York and Washington—generally exempt the isolated sale of a franchise, but there may be exceptions.

Launching a first franchise can present challenges, but entrepreneurs can negotiate the maze a bit easier by carefully researching federal, state and local regulations, and by working closely with their legal and other advisors.

To read the full column, visit: franchisealchemy.com/testing-a-new-franchise-concept/

About LeClairRyan

As a trusted advisor, LeClairRyan provides business counsel and client representation in corporate law and litigation. In this role, the firm applies its knowledge, insight and skill to help clients achieve their business objectives while managing and minimizing their legal risks, difficulties and expenses. With offices in California, Connecticut, Delaware, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, Pennsylvania, Rhode Island, Texas, Virginia and Washington, D.C., the firm has approximately 350 attorneys representing a wide variety of clients throughout the nation. For more information about LeClairRyan, visit www.leclairryan.com.

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The UPS Store Launches First-Ever National Pitch Off to Celebrate and Support Entrepreneurs https://homebusinessmag.com/newsstand/news/ups-store-launches-first-ever-national-pitch-off-celebrate-support-entrepreneurs/ https://homebusinessmag.com/newsstand/news/ups-store-launches-first-ever-national-pitch-off-celebrate-support-entrepreneurs/#respond Tue, 18 Apr 2017 18:39:14 +0000 https://homebusinessmag.com/?p=31510 Pitch competition complements company’s Small Biz Salute program with the chance for entrepreneurs to win $10,000 during National Small Business Month.

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On a mission to make dreams a reality, The UPS Store launched its first-ever national Pitch Off contest today where startups and small business owners can compete for a chance to win $10,000. The Pitch Off is part of the company’s Small Biz Salute, a month-long initiative celebrating small business owners for their hard work, innovation and dedication to their business and local communities.



“Bringing value to small business owners is what our stores do every day,” said Tim Davis, president of The UPS Store. “The Pitch Off gives entrepreneurs a platform to tell us what makes their business unique. It could be a brand new product, existing thriving business or even just a great concept. The next big idea is out there and we want to help get it off the ground.”

The UPS Store® Pitch Off competition is officially open for submissions. Here’s how it works.

  • Small business owners and entrepreneurs at any stage in their business ventures can visit www.theupsstorepitchoff.com to begin the submission process. Pitch off submissions open 9:00 am ET Tuesday, April 18 and close 11:59pm ET Saturday, May 20.
  • PITCH + SUBMIT. Capture a 90 seconds (or less) pitch video describing the business or business idea and why it is unique. Be creative. Enter background information and submit the pitch video through the website.
  • SHARE. Entrants will be able to socially share their entries and encourage family and friends to vote for their favorite video in an online gallery. The voting period opens 9:00am ET Monday, May 22 and closes 11:59pm ET Wednesday, May 31.
  • WIN. Based on criteria judged by a panel of experts and online votes, the final winner will be selected. The grand prize Pitch Off winner will receive $10,000. There will also be cash prizes rewarded to the best pitch videos in a variety of categories. The grand prize winner and category awardees will be announced on Tuesday, June 6.

In addition to the national competition, The UPS Store is hosting Small Biz Salute events in three cities, Portland, Kansas City and Denver. Each event will give attendees the chance to compete in a local, live version of the Pitch Off competition. Local contestants will have three minutes to pitch their business to a live audience and panel of judges at the event. The best pitch in each city will win $5,000.

Throughout the year, small business owners and entrepreneurs can visit one of more than 4,500 locally owned and operated The UPS Store locations to find tools and resources to support their business or budding venture. The locally owned system allows franchisees to form relationships with their small business customers, sharing advice, experiences and innovative problem-solving. The UPS Store can serve as a back office for a small business offering services ranging from packaging and shipping, to mailbox, notary and professional grade printing and marketing materials.

For more information about Small Biz Salute, how to enter The UPS Store Pitch Off, and full contest rules visit https://www.theupsstore.com/smallbizsalute.

About The UPS Store

With more than 4,500 locations, The UPS Store network comprises the nation’s largest franchise system of retail shipping, postal, print and business service centers. The UPS Store locations in the U.S. are independently owned and operated by licensed franchisees of The UPS Store, Inc., a subsidiary of UPS (NYSE: UPS). Services, pricing and hours of operation may vary by location. For additional information on The UPS Store, including information on franchise opportunities for opening a The UPS Store location, visit www.theupsstore.com. Follow The UPS Store on Twitter at @TheUPSStore and like The UPS Store on Facebook at facebook.com/theupsstore.

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Enter MN Cup for a Chance at $450,000 in Startup Money https://homebusinessmag.com/newsstand/news/enter-mn-cup-chance-450000-startup-money/ https://homebusinessmag.com/newsstand/news/enter-mn-cup-chance-450000-startup-money/#respond Tue, 18 Apr 2017 18:30:09 +0000 https://homebusinessmag.com/?p=31507 The MN Cup is an extraordinary competition where contestants with clever entrepreneurial ideas get expert advice, insider knowledge, and valuable training on navigating our state’s business ecosystem.

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Friday, April 28 Is the Last Day to Enter the 2017 MN Cup

WHAT: The MN Cup is an extraordinary competition where contestants with clever entrepreneurial ideas get expert advice, insider knowledge, and valuable training on navigating our state’s business ecosystem. Winners in each of the eight divisions— General, High Tech, Energy/Clean Tech/Water, Food/Agriculture/Beverage, Life Science/Health IT, Impact Ventures, and Student, and its 18 and under Youth division—walk away with prize money, as does one Grand Prize Winner and one runner-up. It’s free to enter, but applications are only accepted until Friday, April 28.



WHO: We all know Minnesotans who’ve had a “Eureka!” moment and imagined an invention no one else has dreamed up, or who’ve always longed for the adventure of starting their own business and building it into an empire. The MN Cup is a bridge to help connect them with resources they need to succeed. Help MN Cup reach these would-be startup founders, genius inventors, economy boosters, and job creators — let them know there is still time to enter! Interview MN Cup director Melissa Kjolsing, who can tell viewers how the process works, and how many incredible ventures have come out of it during its 13-year history.  We can also set up interviews with previous winners to share how MN Cup has changed their lives.

WHY: For those who dream of entrepreneurial success, it’s now or never: applications close April 28. And with a record $450,000 of prize money, MN Cup has more to offer in 2017 than ever before. The contest and its participants have the potential to make a huge impact on our state. MN Cup has expanded the type of Minnesotan who founds a business: last year, 38 percent of our teams had a female lead, 24 percent had a minority lead, and 8 percent were veterans. More than 12,000 Minnesotans have participated in MN Cup since it began. Finalists have gone on to raise more than $230 million in capital to support the development of their ideas, create jobs, and broker numerous business partnerships, collaborations and distribution agreements.

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What Business Owners Need to Know About the Email Privacy Act https://homebusinessmag.com/newsstand/government-and-sba/business-owners-need-know-email-privacy-act/ https://homebusinessmag.com/newsstand/government-and-sba/business-owners-need-know-email-privacy-act/#respond Fri, 14 Apr 2017 22:50:43 +0000 https://homebusinessmag.com/?p=31364 In a rare act of bipartisanship—fueled by the heavily debated revelations and FBI inquiries leading up to the recent presidential election—the U.S. House of Representatives recently and unanimously passed the Email Privacy Act (H.R. 387).

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In a rare act of bipartisanship—fueled by the heavily debated revelations and FBI inquiries leading up to the recent presidential election—the U.S. House of Representatives recently and unanimously passed the Email Privacy Act (H.R. 387).

The “EPA” is arguably the most important step toward better protecting cloud-based information.



Under the current law—the Electronic Communications Privacy Act (ECPA) of 1986—authorities can obtain content stored on the cloud from an Internet Service Provider (ISP) without the need to obtain judicial approval. If the new EPA is approved by the Senate and signed into law by President Trump, the updated law would require search warrants before any content—the actual communications in emails, the text in documents, images, videos and other forms of data—held by ISPs (e.g. stored on iCloud, Microsoft’s One Drive, Google, Gmail, ShareFile or Dropbox to name a few) is made available.

So what does this mean for business owners?

Businesses, large and small, depend on the Internet and, increasingly, cloud-based services to store private data. It’s virtually impossible today to remain competitive otherwise. With that in mind, here’s what businesses need to know about the EPA:

It can be beneficial to businesses because:

1. It gives additional protection

The EPA would help businesses, big and small, by giving them some margin of additional protection. It does so by requiring a judge to make an independent determination there is “probable cause” to issue a warrant, as opposed to simply requiring whatever government official or agency seeking the information to have an “articulable suspicion.”

2. It elucidates the current law

The EPA clarifies when ISPs must, and need not, respond to governmental demands for the disclosure of their customers’ information.

3. It can give U.S. companies a competitive edge

Given the widespread complaints abroad about the lack of legal protection available in the United States, the EPA makes U.S.-based cloud services and U.S. companies that store private information on the Internet more competitive internationally.

It can be less beneficial to businesses because:

1. Internal corporate communications can still be accessed

All businesses should know that internal emails among “officers, directors, employees or agents of [a] person or entity for the purposes of carrying out their duties” can still be accessed from an ISP by the government by an administrative subpoena or other means without a warrant.

2. As can public information

Publicly available information that “advertises or promotes a product or service” can also be accessed without a search warrant.

While the EPA is far less than a perfect solution for the protection of privacy, it is a good sign that reasonable minds have unanimously come together to constructively address this important issue—and update a 30-year-old law in need of modernization. May this be the first of many good things to come!

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White House Budget Proposal Must Help Women Business Owners https://homebusinessmag.com/newsstand/government-and-sba/white-house-budget-proposal-must-help-women-business-owners/ https://homebusinessmag.com/newsstand/government-and-sba/white-house-budget-proposal-must-help-women-business-owners/#respond Sat, 18 Mar 2017 22:57:58 +0000 https://homebusinessmag.com/?p=30322 Statement by Women Impacting Public Policy President Jane Campbell regarding President Trump’s budget request released.

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“We thank the Administration for its continued support of the Small Business Administration—which plays a crucial role in helping women entrepreneurs succeed—in the budget it proposed to Congress today. We are encouraged to see that the president’s budget recognizes the importance of SBA lending programs and federal contracting support for business owners.



While we understand and support the desire to eliminate duplicative government programs, we have concerns about budget proposals to eliminate SBA PRIME, the Treasury’s CDFI Fund and entrepreneurial development programs—which provide significant support to women business owners. We also encourage Congress to maintain its commitment to Women’s Business Centers, which are vital training and counseling programs.

Small businesses create half the country’s jobs, and entrepreneurship is a key pathway to financial security and independence for women and other business owners. Indeed, small business ownership is the second greatest source of household wealth behind home equity, according to a study by CFED.

Women-owned firms are growing at nearly four times the rate of men-owned businesses, according to the National Women’s Business Council. We believe robust support for programs that help women business owners get the capital, training and counseling they need to thrive will pay huge dividends for our economy.

We encourage Congress to carefully consider decisions on whether to cut funding from programs that help women entrepreneurs.”

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About WIPP

WIPP is a national nonpartisan organization advocating on behalf of women entrepreneurs—strengthening their impact on our nation’s public policy, creating economic opportunities, and forging alliances with other business organizations. In 2016, WIPP partnered with the National Development Council (NDC) to provide support for WIPP’s coalition activities. In her role as Director of the NDC Washington office, Jane Campbell also serves as President of WIPP. www.WIPP.org

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SCORE Infographic: Small Business, Big Trade https://homebusinessmag.com/newsstand/news/score-infographic-small-business-big-trade/ https://homebusinessmag.com/newsstand/news/score-infographic-small-business-big-trade/#respond Sat, 18 Mar 2017 22:50:14 +0000 https://homebusinessmag.com/?p=30317 SCORE, the nation’s largest network of volunteer expert business mentors, has gathered statistics indicating small business’ predominance in the United States export market.

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97% of U.S. Exporters are Small Businesses

SCORE, the nation’s largest network of volunteer expert business mentors, has gathered statistics indicating small business’ predominance in the United States export market.

Small businesses make up 97% of U.S. exporters, and are steadily gaining a more proportionate revenue share:

  • In 2002, only 27% of revenue from U.S. exports went to small businesses.
  • By 2014, that rate had risen to 33%.

International trade is a key driver of small business success:

  • U.S. companies that export grow faster and are nearly 8.5% less likely to go out of business than non-exporting businesses.
  • 26% of companies that trade internationally significantly outperform their market.


Small businesses export to:

  • Grow sales and profits
  • Diversify and expand customer base
  • Increase stability in light of U.S. economic challenges

On average, becoming an exporter takes less than a year:

  • 48% of businesses reported that it took a few weeks to launch their exports
  • 25% reported a few months
  • 11% reported several months
  • 7% reported a year or more

Less than one percent of America’s 30 million companies export their products and services. 63% of non-exporting small businesses expressed the following concerns:

  • 39% say their goods are not exportable.
  • 37% don’t know how to start.
  • 24% worry about not getting paid.
  • 24% cite regulatory barriers.
  • 15% say it will disrupt domestic sales.

Download this month’s infographic to learn more about the impact of exportation on small business success.

About SCORE
Since 1964, SCORE has helped more than 10 million aspiring entrepreneurs. Each year, SCORE’s 10,000 volunteer business experts provide 350,000+ free small business mentoring sessions, workshops and educational services to clients in 300 chapters nationwide. In 2016, SCORE volunteers provided 2.2+ million hours to help create more than 55,000 small businesses and 130,000 jobs.

For more information about starting or operating a small business, visit SCORE at www.score.org. Follow @SCOREMentors on Facebook and Twitter for the latest small business news and updates.

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What the Current Small-Business Financial Environment Means for Your Growing Business https://homebusinessmag.com/newsstand/news/current-small-business-financial-environment-means-growing-business/ https://homebusinessmag.com/newsstand/news/current-small-business-financial-environment-means-growing-business/#respond Sat, 11 Mar 2017 01:14:36 +0000 https://homebusinessmag.com/?p=30003 To help small-business owners get a clearer picture of the current environment, Experian®, the leading global information services company, and Moody’s Analytics, a leading independent provider of economic forecasting, recently released the latest Main Street Report. The report provides data and intelligence into the overall financial well-being of small businesses.

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Source: TaxCredits.net (CC BY 2.0)

Understanding the state of the small-business environment helps you make smarter decisions about your business finances and investments. Economic factors like unemployment rates, the availability of capital and current interest rates heavily influence the small-business environment. To help small-business owners get a clearer picture of the current environment, Experian®, the leading global information services company, and Moody’s Analytics, a leading independent provider of economic forecasting, recently released the latest Main Street Report. The report provides data and intelligence into the overall financial well-being of small businesses.



Here’s a breakdown of the latest insights from the Main Street Report, which evaluates fourth quarter performance from 2016. Overall credit performance is positive, and the outlook of lenders and business owners appears to be optimistic. Small-business owners did not increase their borrowing in the fourth quarter, using only 40 percent of the total credit available, and banks and finance companies appear increasingly willing to lend to small businesses. The small-business segment is healthy and the leading economic indicators are positive.

So what does this mean for your business? With the economy near full employment and ample business credit available, there is increased confidence among small-business owners. However, potential changes in fiscal policy will impact the small-business sector, so it’s important to factor that into your decision-making. For example, if the Federal Reserve tightens monetary policy faster than anticipated, an interest rate shock could cause balance growth to slow and delinquencies to rise quickly, delivering a jolt to overall consumption and small businesses in particular.

For additional insights and to listen to the full results of the report, please register for the Main Street Report webinar on March 14 at 10 a.m. Pacific/1 p.m. Eastern. For a copy of the latest Experian/Moody’s Analytics Main Street Report, visit http://www.experian.com/business-information/landing/msr-q4-2016.html.

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Small Business Community Reacts to Trump’s Health Care & Economy https://homebusinessmag.com/newsstand/government-and-sba/small-business-community-reacts-trumps-health-care-economy/ https://homebusinessmag.com/newsstand/government-and-sba/small-business-community-reacts-trumps-health-care-economy/#respond Fri, 03 Mar 2017 01:31:27 +0000 https://homebusinessmag.com/?p=29636 As President Trump Addressed a Joint Session of Congress, Katie Vlietstra, Vice President of Public Affairs and Government Relations for the National Association for the Self-Employed (NASE), the nation's leading resource for the self-employed and micro-businesses, released the following statement applauding the optimistic tone of strengthening health care and the economy, while urging the president to work with Congress on legislation

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Encourages Trump to Work With Congress to Move Legislation Addressing Health Care and the Economy

As President Trump Addressed a Joint Session of Congress, Katie Vlietstra, Vice President of Public Affairs and Government Relations for the National Association for the Self-Employed (NASE), the nation’s leading resource for the self-employed and micro-businesses, released the following statement applauding the optimistic tone of strengthening health care and the economy, while urging the president to work with Congress on legislation:

“After over three years of depending on health care, millions of Americans, including small businesses, rely on this critical coverage. In a time of uncertainty about its future, President Trump should move cautiously to ensure that our health care system is replaced with an alternative plan that is both affordable and offers options while preserving key safeguards. It isimperative any replacement effort stabilizes the health insurance market place – without short-term stabilization policies in place, chaos will adversely affect the health care market and U.S. economy.

“As Congress and President Trump move forward with boosting the American economy with tax reform, any overhaul of the system must consider the over 27 million self-employed and micro-business filers who submit their tax returns as individuals. Any reduction in the corporate tax rate should also be reduced to the same levels for the individual rate. This coupled with rolling back burdensome and complicated regulations and providing relief to small businesses will result in a robust economy.

“The American small business community, including the largest small business demographic of the self-employed and micro-businesses nationwide, stand ready to work with President Trump and Congress to ensure a fair and equal playing field for all businesses, large and small.”

# # #

The National Association for the Self-Employed (NASE) is the nation’s leading resource for the self-employed and micro-businesses, bringing a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy. The NASE Small Business Locator helps identify and connect our nation’s smallest businesses. In addition, NASE’s new health care portal helps small business owners navigate the nation’s health care marketplace. The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association’s website at NASE.org



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Mobile Apps Increasingly Viewed by Small Businesses as a Best Practice for Serving Customers https://homebusinessmag.com/newsstand/news/mobile-apps-increasingly-viewed-small-businesses-best-practice-serving-customers/ https://homebusinessmag.com/newsstand/news/mobile-apps-increasingly-viewed-small-businesses-best-practice-serving-customers/#respond Thu, 02 Mar 2017 23:43:36 +0000 https://homebusinessmag.com/?p=29603 Small and medium-sized businesses (SMBs) are moving rapidly toward adopting mobile apps, according to new research from Clutch, a research, ratings, and reviews platform for business services.

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Clutch Survey Indicates 50% More SMBs Will Have Mobile Apps in 2017

Small and medium-sized businesses (SMBs) are moving rapidly toward adopting mobile apps, according to new research from Clutch, a research, ratings, and reviews platform for business services. Currently, 42% of SMBs have built their own mobile app, but Clutch’s survey indicates that SMBs increasingly view them as a worthwhile tool to improve business operations and return on investment.



Two-thirds (67%) of SMBs surveyed said they plan on having a mobile app by the end of 2017, a benchmark growth rate of over 50% over the course of the year.

SMBs gave various reasons for building mobile apps as well as identified features they particularly value. Most of those features directly relate to mobile apps’ impact on improving business, particularly their ability to provide solid return on investment (ROI).

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“People won’t just go download your app because your business has an app,” said Cameron Banga, Project Manager and Co-Founder of 9magnets, a mobile app development company. “I think businesses are finding that having an app doesn’t increase sales, but the customer service experience on mobile is definitely increasing customer satisfaction.”

Banga’s comments reflect trends found in the data, including that ‘improving customer service’ was the primary reason why SMBs built a mobile app in 2016.

Other factors which influence whether or not SMBs have developed a mobile app includecompany size and age of management personnel, as well as the resources a company has available to devote to mobile applications.

Larger SMBs, in addition to those with younger managers, are more likely to have developed mobile apps. SMBs with owners under the age of 45 are two times more likely to have built a mobile app than those with owners over 45.

Clutch provides a list of recommendations for SMBs that may still be hesitant to adopt a mobile app. These recommendations compel SMBs to take advantage of the mobile app market while it is still in its relative infancy, as well as advise SMBs to stay abreast of trends in the mobile app market in order to better inform their own strategies.

A full report can be found at: https://clutch.co/app-development/resources/small-business-mobile-apps-2017-survey

About Clutch

A B2B ratings and reviews firm in the heart of Washington, DC, Clutch connects you with the agencies and software solutions that can help you enhance your business and meet your goals. Our methodology maps agencies and software solutions based on consumer reviews, the type of services offered, and quality of work.

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