11 Practical New Years Resolutions for Small Businesses

11 Practical New Years Resolutions for Small Businesses

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To expand your small business and make more money from it, you’ll need to raise the bar with clear goals for 2018. That’s why we’ve put together these 11 New Years business resolutions to help your company reach its financing goals without breaking a sweat.

The best part is, they’re realistic New Years ideas that you can actually accomplish instead of that rainy-day list of tasks that makes you anxious to look at. Let’s dive in!

1. Stay on top of your cash flow.

You can’t get better financing in the future unless you can build enough capital to invest back into your company. To get there, start with small steps. Simplify the way you monitor your profits. Get a software program like QuickBooks, FreshBooks or Wave. If your enterprise is very small, just start a simple Excel spreadsheet with two columns to total up your daily profits and losses. Take a few minutes each day as part of your routine to look at these numbers and reflect on what caused your profit boost or what increased your losses. You’ll develop a habit of trying new ways to boost profits and reduce losses naturally this way by changing the way you think about your business. Before you know it, you’ll know if you’re reaching your monthly goals so that you’re not suddenly hit with losses at the end of the year.

2. Stick your head out more in the digital world.

You absolutely must do these three things if you haven’t already:

  • Have a friend who’s good at search-engine optimization validate that your website is mobile-friendly. If it’s not, then make it so!
  • Start an email-marketing list with your best customers on it and send them thoughtful, good content instead of just promos.
  • Start reading up on easy digital marketing tools and explore a new online platform you haven’t dipped into yet.

3. Get a productivity app to track how you spend your business time.

Did you know that three out of every four startups aren’t successful simply because they don’t focus well and try to do too much all at once? Avoid wasting time by paying attention to where your time is going and evaluating how you could use your time better. Apps like these help you do just that on your smartphone: RescueTime, OmniFocus and My Minutes.

4. Revise your rates to raise your cash flow.

Compare your rates to others in your field and reevaluate how much you’re charging. If you offer more perks and features than your competition and have a list of clients waiting for your attention, then charge more because your demand is higher! If you offer less, then offer smaller package deals that are easy for you to produce at a lower price. That way, you’ll attract more business and make more money by selling greater quantities of goods or services that are easy for you to make.

5. Improve your customer feedback connection.

Open up another channel that makes it easier for your customers to leave feedback about how you’re doing. Review what they say and respond to whatever issues that you can reasonably do something about to show them that you care and build customer loyalty. In your digital business channels, take polls to get input about if your customers like your current specials or want something else from you to find out what you need to develop in your offerings.

6. Go paperless.

Without paper cluttering up your workspace, you’ll avoid paper cuts; you won’t struggle to read illegible handwriting from others; you won’t have to struggle to replace faulty ink cartridges and un-jam papers in your printer; and you’ll help the planet while saving money! Did you know that personal computers use about 115 billion sheets of paper every year, and at least half of these papers are not recycled? Let’s face it: Anything you need to print is possible to share faster and easier through emails and digital photos.

7. Switch to green energy.

Did you know that your small business can get solar-energy funding in the form of grants or tax credits when you switch to solar energy? You’ll reduce your energy bills in the long run too.

8. Invest in a chat-bot program.

if you don’t have so much time to answer calls or can’t afford a receptionist, using something like ChatFuel helps you create a Facebook-ready, artificial-intelligence-powered chat bot. The program can interact with customers for you, send them relevant information they’re searching for and ask them questions. You get to see all the data they collect later in your free time. You can even get a chat bot to collect payments for you too.

9. Diversify your income streams to protect yourself from a future economic crisis.

This step is easier than you think. Start by looking at where your main income sources are. Now spread out your offerings to appeal to new demographics or new neighborhoods and online platforms. Then you’ll have a cushion to handle any sudden changes in the markets and adapt to them before losing everything because you relied too much on one income source.

10. Get better online security for your business.

Change your passwords once a year! Also, don’t use the same passwords for multiple applications and users. You can organize your passwords with a password-manager program and generate new ones faster with an automatic password generator. Update firewalls on your network. Another key step to keep your most highly confidential data safe from hackers is to make regularly scheduled backups to several hard drives when you go offline and keep these encrypted hard drives off of any device that’s online.

11. Give yourself more delegating freedom.

In small businesses especially, you get too used to doing everything on your own. That means you’re also more likely to take on more tasks than you need to as your business grows. Instead of losing your mind from overworking, develop your staff to help them carry more of your weight. Have at least one training session every couple of months to share your knowledge on something that you want one of them to be able to handle in the future.

4 Small Business Marketing Trends to Watch For in 2018

4 Small Business Marketing Trends to Watch For in 2018

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Small business owners don’t spend the final weeks of the year thinking about what fad diet they’re going to start. Or, whether they’re going to get into yoga, cycling or jogging once the calendar turns over to the new year. Instead, they most likely spend time looking at their end-of-year reports, thinking about what worked and where they can improve in the new year.

That is, they look to make New Year’s resolutions that last longer than a few weeks!

No matter how large or how small they are, one area every business can always improve on is in their marketing efforts. Even iconic brands with some of the most successful marketing campaigns in history (think Apple, Coca-Cola or Starbucks) need to stay on top of the various mediums, trends and consumer attitudes. In short: To stay fresh and relevant, you need to be on top of the latest marketing tools and techniques.

Looking ahead to the new year here are four business marketing trends to watch for in 2018.

1. Video content is vital

A decade ago it would have cost thousands to produce a video with aerial shots, quality audio and crisp picture. Now all you need is a small drone, a mic, a smartphone and some free editing software. As affordable digital video technology continues to improve, and as more businesses produce short videos to deliver their message or communicate with customers, video content will become a must for small, local businesses trying to reach customers online.

2. The new king of social media

With over 800 million accounts, and a new(ish) feature, – Instagram Stories, which has become more popular than Snapchat, – Instagram is the social media site small business owners want to settle down into. One of the reasons for Instagram’s huge popularity is that consumer culture is becoming increasingly visual; as such, many brands and businesses see better engagement on Instagram than other social media platforms.

3. Don’t forget there’s a physical world out there

Digital, digital, digital. It seems like that’s all we’ve been hearing for the past few years: Get online! But so too does every company need to reach out to the “real” world — even digital companies. One way to do this is to sponsor or appear at an event, whether it’s a community softball team, highway cleanup or annual arts fair. Many companies are realizing the importance of having a “live” presence; in fact, 63 percent of marketers intend to invest more in live events in the future.

4. Show purpose

Marketing isn’t just about showing how great a product you have or how clever you are. Consumers these days want to patronize brands that have a larger purpose. Brands that give back or support causes that matter. Ninety-one percent of millennials would switch brands if it meant supporting one that advocated a cause they believed in. And this doesn’t just apply to millennials. Customers in general are becoming more socially aware. You can appeal to this in a number of ways, from using green materials to working with influencers to advertising that you will donate part of your profits to charity.

Make sure to devise a strategy to reach out and open conversations with both loyal and future customers. This is one of the more exciting and challenging parts of owning a business. At Strategic Funding, we work with our partners to come up with the best ways to allocate their resources so they can achieve their goals. and something you should definitely be looking forward to in the new year!

Top 3 Customer Appreciation Strategies

[Infographic] Top 3 Customer Appreciation Strategies

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As a business owner it’s incredibly important to show customers that you care. Not only will this positively increase the way your brand is viewed, but it will also help in developing a customer for life.

Consider this, 70% of consumers say that their loyalty to a brand is influenced by their ability to get customer service at any time, everyday. Not to mention it costs five times as much to attract a new customer, than to keep an existing one. So why not make sure you’re staying connected, and holding on to them!

Here are 3 ways that can help to show your customer appreciation.

Just remember, the best customers are repeat customers, so always keep them coming back for more!

Learn more: Here are the articles mentioned in the infographic for you to check out.

Score Points with Your Business Clients by Throwing Them a Party 

How to write a thank-you note 

What Small Businesses Can Learn from Big Business About Customer Loyalty Programs

3 Ways to Build A Strong Online Presence for Your Restaurant

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We live in a mobile age and so should your restaurant. People get the information they need to conduct their daily lives from the internet — typically from a mobile device. In fact, a recent study showed that 64 percent of consumers prefer to buy from businesses they can contact online, and 72 percent of mobile searches for restaurants are initiated on a mobile device.

For your business to be visible, particularly in the restaurant industry, it’s crucial to build a thriving online presence that works for the mobile user. Here are a few ways your business can achieve a strong web presence.
A Website That Works for Mobile

A website is a must for the restaurant industry. Websites provide quick access to key information that people need in order to use your services. A professional website also increases your credibility and encourages the trust of potential customers. Verisign found that over 90 percent of consumers said they would prefer to get information from a business’s website rather than a social media page.

However, the desktop version of your website might be difficult to view and use on a mobile device. For example the user might struggle to pinch or zoom a page to read the content. This is annoying, and potential customers may abandon your site in search of a less frustrating experience. It is vital to make your site mobile-friendly.

Another important aspect of a web presence for your restaurant is choosing your domain name. According to Verisign, you should consider your target audience and what domain name might resonate with them. For instance, is slang appropriate for your type of business? It’s also important to watch out for trademark issues before you commit to a domain.

Video for Social Media

Social media is still a powerful tool. In case you hadn’t noticed, video and live streaming are dominating the mobile social media ecosystem. Cisco predicts that by 2022, 79 percent of mobile data traffic will be video. People love live visuals and connecting on devices. Chipotle and many other big brands have used YouTube as a marketing channel, and there are marketing companies that offer vide0-creation services specifically for restaurants.

According to Wordstream.com, video drives a 157 percent increase in organic traffic from search engine results pages, and video on a landing page can increase conversions by 80 percent or more.

There’s really no limit to when it comes to the types of content you share. Make sure to share that content on popular sites such as Instagram or Twitter. Use hashtags to maximize exposure and chatter to further build your online presence and restaurant brand.

For instance, you could try filming and posting cooking demonstrations or a wine presentation by the sommelier. You could also film a behind-the-scenes video tour of the back-of-house, or film staff introductions to increase familiarity, lend intimacy and boost authenticity. Feature your regulars, local farmers and suppliers.

A Branded Email Newsletter

A monthly email newsletter builds brand awareness. Email marketing remains one of the most effective ways to reach your customers; in fact, it outperforms social media as a marketing tool.

According to Optinmonster, email marketing ROI is 28.5 percent better than ROI for direct mail, and one dollar spent on email provides $38 in return. Again, any content sent to potential patrons will most likely be read on a mobile device. Add links to videos and to your website. From your email, customers can go straight to your website and plug in the address to a GPS to navigate to your location.

Use a branded email address. Three-quarters of consumers surveyed said they would trust a company-branded email address more than a free email address — [email protected] appears much more businesslike than [email protected]

Today, everyone is going mobile. Build your online presence with a mobile-oriented website, interesting videos on social media and an email campaign that links to your site. Marketing software with analytics will measure the success of your email marketing campaigns. That way, you can ditch what isn’t working and focus on what does.

5 National Days to Help Promote Your Business

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Here are some national days to look out for!

Why wait for the major holidays such as Christmas, Valentine’s Day or Fourth of July to celebrate? In case you haven’t noticed, every day is now a holiday; the secret is to keep track of them and to celebrate appropriately.

Looking ahead to the first quarter of the new year, we thought we would look at five holidays small business owners would want to mark on their calendars, along with some ideas for how to promote your business on these days.

  1. Jan. 17 is National Bootlegger’s Day. It’s fitting that Al Capone’s birthday has been named National Bootlegger’s Day. If you run a bar or restaurant that serves drinks, you could really clean up on this day. Consider concocting a specialty cocktail and promoting other drink specials.
  2. Feb. 9 is National Pizza Day. If you run a pizzeria, this one’s a no-brainer. But for the thousands of other small businesses out there, why not thank your employees by ordering them pizza for lunch? Happy employees are always good for business.
  3. Feb. 15 is Singles Awareness Day. The day after Valentine’s is the day for all the single folks out there to celebrate their freedom. If you run a spa or salon, offer a deal for single ladies and guys on hair cuts or spa treatments. Of course, drink deals are always welcome at eateries and bars!
  4. March 12 is National Plant-a-Flower Day. As the temperature rises, people’s moods change. What better way to celebrate the arrival of spring than by planting a flower? Take advantage of this day by offering free seeds, flower planting kits or potted flowers — whatever best fits your business!
  5. March 29 is National Mom-and-Pop Business Owners Day. For small businesses, this is a holiday you don’t want to miss. Offer sales, promotions and events, unfurl the red carpet and remind customers why local businesses rock!

Just like every day is a day to celebrate, so is every day an opportunity to grow and expand your business.

7 Reasons Why Customers Distrust a Business

7 Reasons Why Customers Distrust a Business

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According to a Gallup poll conducted earlier this year, two-thirds of American customers are highly confident in small businesses. The only other entity Americans have more trust in is our nation’s military. On the other end, only 6 percent of these same individuals have a “great deal” of confidence in big businesses.

While a small business owner might think this information bodes well for them and their burgeoning enterprises, there are caveats to consider. Numerous small factors can cause a customer to distrust your business.

1.Outdated, Poor-Performing Website

Research reveals two crucial insights about the importance of an up-to-date, high-functioning website:

  • 39% of users will stop engaging with a site if the image won’t load or it takes too long for them to load.
  • Given 15 minutes to review content, two-thirds of people would rather read something nicely designed than something plain.

Your target audience will notice if your site looks and operates as though it was built a decade ago. A site lacking any design aesthetic that is not optimized for performance is driving away more customers than you realize. Make sure to Invest in building a high-functioning website that is also visually appealing to build trust with your customers.

2. No Contact Information Provided

Did you know 51 percent of people think “thorough contact information” is the most important element of an organization’s website? A simple contact page with a phone number, email address, and contact form is so easy to create. It also goes a long way in helping to build trust with your customers.

3. No Pricing Information Available

Customers learning about your business want to know what your products and/or services cost. If a few clicks doesn’t reveal this information, people will think something fishy is going on. This will also cause them to feel like your business can’t be trusted.

4. Vague and/or Error-filled Copy

Whether it’s copy on your website or in your printed marketing materials, anything and everything you say needs to be clear, concise, and correct. A customer will assume you can’t manage their business needs if your company can’t handle writing error-free, informative copy. Vague content riddled with spelling and grammatical errors communicates that a brand can’t be trusted or relied on.

5. No One Knows Who You Are

Have you established yourself as an industry thought leader? Do third-party organizations vouch for your organization? Are customers leaving reviews on Yelp, Facebook, and/or LinkedIn? Even though you are a small business, your customers expect you to demonstrate your expertise. This can be through relevant and fresh content, and support that expertise using positive customer testimonials.

Third party badges, such as those provided by the Better Business Bureau or TRUSTe, must be prominently displayed on your websites. Don’t assume people will trust you solely because you have a functioning website. You have to establish connections in your vertical that demonstrate how colleagues and clients trust you.

6. No Social Media Presence

Don’t fall victim to the misconception that social media is only for teenagers who want to post selfies. People don’t use social platforms just to connect with friends and family. Today, customers go to social channels to learn about companies. Data from an online survey by BrightLocal last year found that 84 percent of people trust online reviews as much as a personal recommendation. 74 percent of consumers say positive reviews make them trust a local business more.

While it is up to your marketing team to decide which social channels are most relevant to your business and its audience, it is imperative that you have an active presence on these platforms. Regularly updating your pages and engaging with those that reach out to you is an absolute must if you want to build trust.

7. Poor Email Practices

Are you contacting people who did not opt-in for your emails? Do your emails make it challenging to unsubscribe from them? Did you skip segmenting your email audiences? If you answered “yes” to one or more of these questions. Change your email practices if you want people to trust your business.

If your business goal is to build long-lasting relationships with customers that trust your organization, you have to invest in fixing any errors that might be deterring these individuals. Discuss funding options with Kapitus now to discover how to develop a trustworthy organization.

Strategies to Impact Your Practice with Online Reviews

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Are you monitoring what patients are saying about your medical practice online?

Most medical providers understand the importance of remaining competitive. In today’s tech-focused society, a major factor influencing your competitiveness is knowing what’s being said about you and your practice online. If online reviews are negative, your reputation and practice could suffer.

If you’re skeptical about the impact online reviews can have on your practice, consider these figures from the Local Consumer Review Survey of 2017:

· The number of consumers viewing online reviews has increased dramatically. Now, approximately 97% check online reviews regularly.

· For 85% of consumers, online reviews are just as important as recommendations from friends and family.

· Positive online reviews increase trust in a business for 73% of consumers.

· Nearly half (49%) of consumers prefer to see at least a 4-star review before choosing a particular business.

Based on these statistics, the verdict is in: Just as they aim to diagnose and treat their patients, medical providers should closely assess their online reputations and strive to improve them.
Why You Should Monitor Online Reviews
“Failing to plan is planning to fail,” as the old saying goes. As a healthcare provider, you must keep track of what patients are saying about you on online review sites like Yelp or Healthgrades. By doing so, you can more quickly and effectively take action when negative or inflammatory feedback hits the web.

Consider three important reasons for why medical practices should closely monitor online reviews.

1. Help attract new patients. One survey showed that 72% of patients use online reviews as a “first impression” when seeking a provider. If your reviews are mostly positive, you’re more likely to appeal to new patients.

2. Improve search rankings. Google strives to give local searchers the most pertinent information possible, which is why user-generated content from review sites gets higher rankings. In a nutshell, online reviews will likely be the first result patients see when they type your name or practice into Google.

3. Address concerns and boost patient satisfaction. In addition to being a great marketing tool, online feedback also offers an opportunity for providers to make much-needed improvements to their services. A great deal of negative reviews (about 75%) relate to minor issues like long wait times or poor parking – problems you and your staff can easily address to improve the patient experience.

So, how do you monitor your online reviews? One way to conduct a reputation check-up is by utilizing tools that track or organize reviews, such as Google Alerts, Twilert or Social Mention. Type your name or practice into these tools to get regular updates on any online mentions (positive or negative) that may impact your reputation. Then, work to address any negative reviews as soon as possible.

Hiring a reputation management service is another method many healthcare practices use to manage and improve their image online. Such firms implement a variety of tools to highlight positive feedback and correct biased or inaccurate information to improve providers’ online reputations.

Asking for Feedback

Without a doubt, your patients are using online reviews to form judgments about you and your practice. Even if you don’t claim your practice on review sites. The best way to handle this is by claiming your profile page on popular review sites, ensuring that the listed information is accurate and up-to-date and monitoring it closely.

Another smart approach is to proactively solicit positive reviews to enhance your online reputation. Consider the patients with whom you have great rapport who have visited your practice for an extended time without complaint. Seek them out during their next office visit and graciously ask if they would write a review. This would involve their experience and be put on a preferred physician review site.

Dealing with Negative Feedback

If a patient has negative feedback about their experience at your practice, try to address the matter before it gets submitted to a review site. You might even ask the patient if they would grant you the opportunity to make amends for the problem.

When you do receive negative feedback, ask the reviewer to contact you personally. This way you can address their complaints according to HIPAA regulations. Offer only general responses to negative or positive reviews online.

5 Steps to Improve Your Medical Practice's Local SEO

How to Find the Perfect SEO Keywords For Your Small Business

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For SEO (search engine optimization), targeting the right keywords makes all the difference.
If you target the wrong ones, two things happen — both of them bad:

1. Your SEO keywords generate no traffic to your website.

2. Your SEO keywords generate traffic, but no inquiries or online revenue.

Use a Keyword Research Tool

Fortunately, there are many low-cost and no-cost online tools to help you do keyword research to find the right ones. Moz Keyword Explorer is one of my favorites because its data is reliable and it is very easy to use. If you are running a Google AdWords PPC (pay-per-click) campaign, you already have access to the Google Keyword Planner, an excellent research option for SEO as well.

The Crucial Factors to Weigh in Keyword Research

There are many factors that go into the perfect keyword. These are the most important.

Relevance

The keyword must be as relevant as possible to the content of your associated website page. People using search engines get very frustrated when they click an organic link that takes them to a web page unrelated to their search. Thus, Google and the other search engines place ultra-high value on relevance.

Volume

Many small businesses err by selecting keywords with extremely high volume. This is often a big mistake. First, high-volume keywords may be targeted by huge companies with huge budgets — you can’t compete. Second, high-volume keywords may be too broad, and therefore attract the wrong type of traffic. For instance, if you sell organic shaving cream for sensitive skin, targeting a keyword such as “shaving supplies” will attract people looking for razors, aftershave, etc. “Longtail” keywords, with lower volume but other positive characteristics, are a better bet — keywords such as “organic shaving cream for sensitive skin”.

Intent

Some keyword phrases suggest the search engine user wants to buy something, while others suggest the user wants to research something, still others suggest no intent at all. For SEO, words suggesting intent to buy offer the best opportunity for ROI. For example, “low price shaving cream” conveys strong buying intent, whereas “sensitive skin shaving cream comparison” suggests possible buying intent.

Competitiveness

I mentioned competition earlier, and it is definitely a critical issue for small businesses. You can do everything right in your SEO campaign and still fail if you’re targeting keywords dominated by big firms. Fortunately, good keyword research tools have systems for evaluating a keyword’s competitiveness, which removes a lot of the guesswork.

Common Keyword Targeting Errors in Small Business

Targeting keywords that are too competitive is probably the most common error we see.

Another common error is targeting words based on their assumed value. Sometimes, a phrase that seems popular in your industry is a bad target — that keyword may not really generate much traffic, or may not lead to many conversions. Verify all of your intuitive keyword assumptions with research.

Finally, a serious error is failing to create web pages associated with each target keyword. If, for instance, you target 10 primary keywords — that is, keywords associated with 10 distinct product and/or services — you need 10 pages on your website dedicated to each of those 10 keywords. If you try to jam all of these keywords into one or two pages of content, you’re likely to confuse the search engines about what is really important on those pages. Confused search engines don’t rank content very highly! However, if you take the time to create valuable content around each target keyword, you’ll turn those perfect keywords into powerful revenue producers.

How to Engage Your Loyal Customer Base in 5 Ways

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Most small business owners understand that nurturing loyal customers is one of the best ways to build a profitable company. Selling to repeat customers is almost always easier and less expensive than acquiring new customers by increasing your advertising budget. But how should you engage your loyal customer base? What is the best way to ensure your regular clients think of your business each and every time they are ready to make a purchase?

While there is no single right way to excite existing patrons. Here are five tried-and-true tips for engaging your loyal customer base:

1. Show them some love

Maya Angelou once said, “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” So make sure your customers know how much you appreciate their business. You’ve undoubtedly mastered the basics, like greeting customers by name, remembering what they previously purchased and adding a personal touch to all of your interactions. Now it’s time to go the extra mile and really show them some love. The goal is to make them proud of their relationship with your business. For example, host an after-hours party for your most loyal customers. Make sure the party’s theme fits your brand and give all attendees a small gift or swag bag.

2. Create a loyalty program

The idea of earning rewards with repeat purchases was made famous by the airlines decades ago. But just because it’s been done before doesn’t mean you shouldn’t do it. Regular customers are likely to be eager to participate in a loyalty program. These can allow them to gain freebies or discounts off future purchases. Make it fun by creating a loyalty card with a name and image that ties into your brand. The “point” system should be reasonable and easily achievable. For example, few people will buy 100 meals just to get a free drink, but many will be happy if 5 or 10 meals result in that same reward.

3. Encourage them to bring a friend

One of the best ways to engage your current customer base and increase sales is to encourage your customers to bring a friend to your establishment. Of course, the key way to do this is to make sure that both your loyal customer and the new friend are rewarded for buying from you. You can do this with a 2-for-1 deal (and they can split the savings) or with a discount that both new and old customers receive when they shop together.

4. Run a contest

Everyone loves to be a winner, so why not run a contest that customers can enter every time they buy from you? To make this especially cost-effective, you can partner with a local supplier and feature local products, with the side benefit of educating your customers about the producers that live in your community. Whether you offer a small prize that is distributed frequently (perhaps a free product every month). Or a major jackpot that you give away every year (like a trip or a large gift certificate). Be sure to get the most from this offer by posting the winner’s name and prize in a prominent place in your store. You should also have appropriate newsletters, publications and social media. Just be sure to get permission first.

5. Feature customers on your blog or social media

One especially effective way for small businesses to engage their loyal customers is to shine a spotlight on them. Write about a special customer, either on your blog or on your preferred social media platform. Be sure to tie in your business. For example, a Customer Spotlight feature could discuss why a specific product is a customer’s favorite. Also it could show how the customer benefits from your services. The spotlighted customer will feel special, and other customers will see that you really care.

The benefit of retaining customers goes beyond driving sales and revenues. When it comes time to grow, small business owners who can show they have a loyal customer base are better positioned to attract funding to finance an expansion.

13 Small Business Grants You Need to Know for 2018

13 Small Business Grants You Need to Know for 2018

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Running a small business is a lot like powering a car, and the only way to keep it moving down the road is to fuel it. Capital and funding are the fuel that drives small businesses, and your financial strategies can be the difference between opening a second location in the new year or laying off staff.

While there is no such thing as “free money,” grants are an excellent way for small businesses to keep the engine moving forward in the new year! And unlike small business loans, they don’t need to be paid back if you use the funds correctly.

In this article, we’ll round up our favorite places to find small business grants in 2018, so you can get a head start.

Federal Government Grants

Uncle Sam cares about small businesses and the many agencies of the Federal Government offer grants for specific industries and geographical regions.

Here are a few of the standout grants for 2018:

  1. The Small Business Innovation Research (SBIR)

SBIR has been around for years and helps small businesses engaged in scientific research that have commercial potential. Not every company will qualify for this grant, but if you do, your research and commercial viability will receive a significant boost. Visit the SBIR website for more information.

  1. Small Business Administration

The SBA was created to help small business owners secure lending solutions to make their dreams a reality. They also offer a few grants for small businesses in particular industries, producing various types of products. One of the most well-known grants being the InnovateHer challenge. This awards $70,000 to small companies that provide products and services specifically for women and their families.

  1. BusinessUSA

While not a specific grant provider, this government will provide small business owners with different funding options available for them. Business owners only need to input information about their business, their special group status, and how they would spend the funding. After the questionnaire, the portal will provide a list compiling all of the federal grants they are eligible for. Give it a try and see what grants your business could receive!

  1. Challenges

The Federal Government issues many different challenges for individuals and businesses involved in a variety of public services. Visit the Challenge.gov website, which has a complete list of challenges available. Also expect new challenges to be posted for 2018.

  1. U.S. Department of Agriculture

You may think that USDA grants only apply to farmers, however, they also support small businesses located in rural communities via the Rural Business Investment Program. 20% of the population in the U.S. lives in these rural communities, and there’s a good chance your small business is eligible for this program if it operates in one of these communities.

  1. NASA

If your business is an up-and-coming technology research and development company, you may be eligible to work with NASA – talk about shooting for the stars! They offer their own SBIR and STTR programs for businesses focused on alternative energy and energy efficiency. If your company specializes in power, give them a shot!

Private Sector Grants

The government isn’t the only grant provider in the U.S., in fact, there are hundreds of grants available for small businesses. These are provided by some of the most prominent brands in the world.

We don’t have time to list every single one, but here are our favorites for 2018:

  1. Visa’s Everywhere Initiative

This is a series of three challenges meant to test start-up’s ingenuity, creativity, and innovative commerce ideas. Last year, Visa selected 600 start-ups to compete in the challenges, which awarded the winners up to $50,000 each. Check out their website for more information.

  1. FedEx Small Business Grant Contest

Each year FedEx puts on a contest for small businesses across the country. The grand prize winner takes home $25,000 in cash, along with print and business services worth $7,500. Visit their site to see the 2017 winners and stay tuned for the entries for 2018, which should be coming in the next couple of months.

  1. Amber Grant

Exclusively for female business owners, the Amber Grant awards $500 each month to qualifying women entrepreneurs. And the monthly grand prize winners receive a $2,500 grant. Visit their site for more details on the grant and how to apply.

  1. National Association for the Self-Employed (NASE) Micro-Business Grants

For businesses with fewer than ten employees, you can apply for grants worth up to $4,000 from NASE. You have to be a member of the association. Once you are you can easily apply for one of their grants. The best part is that this grant can be used for a variety of business needs including hiring part-time employees, marketing, office equipment, and more!

  1. Lending Tree Small Business Grant

Launched in 2016, Lending Tree’s small business grant contest awards a $50,000 grant at the end of the year. They are just wrapping up the contest for 2017 and should be launching the competition for 2018 shortly. Visit their website for more information.

  1. Miller Lite Tap the Future

We wrote about this last year, and is still one of the best grant contests available. Business owners pitch their idea to Shark Tank’s very own Daymond Johnmil in five different major U.S. cities. Winners will receive a $20,000 prize and then move on to the national competition. There they will have a shot at the $100,000 grand prize. This is one of the best awards out there for small businesses. Keep an eye on the Tap the Future website for details on the 2018 competition.

  1. Idea Cafe Grants

Idea Cafe is dedicated to providing forward-thinking entrepreneurs with the tools (and capital) they need to succeed. They offer an annual $1,000 grant however their website is full of other grants and guides for small business owners.

There are thousands of small-business grants available, and we could not list every single one of them. Do your research and visit the grant-finding portals online to find a small business grant that perfectly fits your company’s goals. You’d be surprised how easy it is to discover “free money” these days![/vc_column_text][/vc_column][/vc_row]

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