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Small Business Trends to Watch: August, 2012

Small Business Trends to Watch: August, 2012

August 7, 2012

By: Melanie Berkowitz, Esq.

These recent small business trends caught our attention:

Surviving the Lending Crunch.  As we reported in a previous small business trends article, many small businesses continue to struggle to secure the loans they need to grow their operations, make payroll or even simply keep their doors open. 

While industrious business owners are finding new ways to source small business funding, some businesses are seeking out less-traditional sources of funding from companies that are in business to buy invoices, bid on accounts receivable and other such activities. 

Pop-up Businesses are Popping Up. Taking a hint from the phenomenon of pop-up restaurants and Halloween costume shops, all types of small business owners are finding value in the pop-up retail model

Opening a temporary storefront before committing to a long-term lease and business plan not only saves money but also gives business owners the chance to test out their product, create a buzz, and keep overhead costs low. 

A pop-up store may only be open for a couple of days or weeks with the intent that when it disappears, customers will be left wanting more. And because part of the allure of the pop-up is an unusual location, inventive business owners can take advantage of inexpensive and off-beat real estate, even in high-rent markets like San Francisco.

BYOD in the Workplace. It may seem like a good idea to allow your employees to use their own electronic communication devices in the workplace, but allowing workers to “bring your own device” also has its drawbacks, reports the Washington Post

Yes, it can cut down on training time if employees are able to use familiar technology, but trying to manage and coordinate numerous different platforms, data plans and applications can be more trouble than it is worth. 

And while letting your employees use the same smart phone for work and personal time may mean that it is easier to contact them when they are off the clock, you run the risk of having confidential company information accessible to anyone who uses the phone.