This year the Small Business Administration designated May 4-8 as National Small Business Week. With about 28 million small businesses in the U.S. employing roughly half of the working population, as cited by Forbes, it's fair to say this business sector is a major player in the U.S. economy.
Shopping local has gained ground as consumers work to improve their community. However, most consumers shop local because they believe small businesses deliver better customer service. That's fine but in this competitive environment attracting and keeping customers engaged can be challenging.
So, what's the small business owner to do? Chances are you may already have the answer. The Millennials are entering the workforce by storm. According to the U.S. Bureau of Labor Statistics, Millennials make up about 25% of the workforce and by 2020 will grow to more than 40%. Most Millennials are tech savvy, innovative and optimistic. And, Millennials favor working in the less restrictive small business environment. Just give them a sense of purpose, keep communication open and encourage innovative use of technology.
Now, go ahead use this new talent to do things customers want like, offer frequent shopper loyalty programs, provide internet marketing (i.e., social media, email, SMS), offer more competitive pricing, broader product offerings and more convenient business hours.
Shopping local has gained ground as consumers work to improve their community. However, most consumers shop local because they believe small businesses deliver better customer service. That's fine but in this competitive environment attracting and keeping customers engaged can be challenging.
So, what's the small business owner to do? Chances are you may already have the answer. The Millennials are entering the workforce by storm. According to the U.S. Bureau of Labor Statistics, Millennials make up about 25% of the workforce and by 2020 will grow to more than 40%. Most Millennials are tech savvy, innovative and optimistic. And, Millennials favor working in the less restrictive small business environment. Just give them a sense of purpose, keep communication open and encourage innovative use of technology.
Now, go ahead use this new talent to do things customers want like, offer frequent shopper loyalty programs, provide internet marketing (i.e., social media, email, SMS), offer more competitive pricing, broader product offerings and more convenient business hours.
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