Ten Issues Your Small Business Will Confront in 2014

Posted on September 12, 2014

When it comes to businesses, particularly small businesses, even the most seemingly minor changes can affect business in a big way. Of course, each year comes equipped with its own unique challenges and issues, and 2014 is no different.

So, what does this mean for your own small business and what should you be expecting for the remainder of 2014? Quite a few things to be certain, including:

  1. Healthcare Issues – With healthcare laws and regulations consistently on the move, it’s uncertain how this issue will continue to affect small businesses.
  2. Navigating Available Talent – For small businesses, the most significant issue is not only finding and retaining talent for your company, but affording it as well. Even through the current unemployment issues, talent is hard to come by, particularly if you can’t offer top dollar for your employees.
  3. Getting Into Mobile Marketing – Mobile marketing is essential, especially because most consumers today turn to their phones and tablets to shop for products and services before they ever reach for their computer. So, if you haven’t gone mobile with your marketing yet, the time has come.
  4. Don’t Count Out Print Marketing – Digital dictates most business today, but this isn’t to say that print marketing has no role at all for organization’s today. In fact, print marketing still demonstrates significant gains for many, meaning that you shouldn’t rely solely on digital for your own small business.
  5. Secure Your Data – Your customer’s personal information and your own is important, so what are you doing to protect it? More than ever before, data is at a critical phase with more theft and hacking than ever before. This means keeping your data secure and taking all necessary steps to ensure it stays that way.
  6. Finding Investment – If you’re a new small business, or you’re simply seeking new investment opportunities, you might find it difficult to do so in 2014. Luckily, you can stay relevant without large investments through social media and other marketing strategies that have big impact without breaking the bank.
  7. Stay Specialized – With industry giants specializing in just about everything, niching down for your own company can prove to be incredibly beneficial for your business. Doing so not only positions your company as an expert, but it also means that you can charge more money for your services in many cases. Sounds like a win-win situation for your business!
  8. Drive Innovation – Make sure you maintain time to drive innovation, even if you feel as if you can’t. In fact, finding new marketing strategies, products, or unfamiliar services can put your business in higher demand and keep you afloat in today’s uncertain economy.
  9. Enhance Productivity – When you run your own business, you probably serve countless roles, all of which can actually impair productivity rather than enhance it. As a result, it’s important to do everything from finding a trustworthy answering service to reliable technological solutions for your company to free up your time where it should be spent.
  10. Maximize Time – Speaking of time, you probably feel as if you never have enough of it as a small business owner. Make sure to delegate enough where you have time to maintain passion for your business and drive innovation, giving your small business an upper hand.

Running a small business is never easy, especially with all of these potential problems. However, by recognizing them, you can confront them head on and lead your business into the remainder of this year with a passion and plan for success.

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