One prominent feature of the American Dream is the desire to start a business and grow it. Data from SBA shows that there were 28.8 million small businesses in the country by 2016 and these represented 99.7% of the business population. The SBA also reports that 52% of businesses were home-based as at 2014 and since 1970, small businesses have provided 66% of all net new jobs
These statistics highlight the importance of small businesses even though they don’t always make it into the big league.
Do small businesses really survive? Small businesses can only provide jobs if they are in existence and are sustainable. According to the Bureau of Labor Statistics, 50% of small businesses will survive the first year. Good news, but then in 2013, 860, 000 new businesses opened shop while another 788,000 closed.
How can a business survive diverse adversities and remain viable? Connecting with others is one way of shortening the learning curve. Here are three advantages of joining a business owners’ forum:
Cuts Out the Middleman
Business forums are typically populated by people who are stakeholders in a particular industry. This allows business owners to meet with peers who provide mutually beneficial services. Business owners can talk to each other directly without the complications of involving a middleman.
Builds Your Reputation
The opportunity to address peers in the business terrain consistently enables individuals to build a reputation of being an expert in an area quickly. This is also spread via word-of-mouth, which can be highly beneficial to your business.
Drives Online Traffic
When the forum is hosted online, valuable contributions lead other participants to explore the contributor’s online resources. In fact, joining forums is among the best ways to gain organic and clean website traffic.
The daunting challenges involved in today’s business landscape demand quick thinking and resourcefulness on the part of business owners. One way to accomplish this is by joining a community of like-minded people.