The Greatest Small Business Challenges Your Prospects Will Face this Year
The start of a new year brings plenty of new challenges, especially for small businesses looking to grow and succeed in 2019. It’s true that money and health insurance will always be a hurdle for small businesses, but there are some new challenges this year that can be easily overlooked.
As an EMS Agent, part of your responsibility is to support small businesses and set them up for success. There’s no better time than the start of the year to determine ways you can help small businesses overcome their challenges.
Here are four of the greatest challenges small businesses will face in 2019, and more importantly, what you can do to help.
When it comes to small business problems and solutions, money is on the top of almost every list. Small businesses need capital to invest in new products or services that can create new streams of revenue. It can be difficult to figure out how to increase revenue when you’re a small business on a tighter budget. It’s not uncommon for small business owners to get trapped in a cycle where they need more revenue but can’t afford new strategies.
Capital is a limiting factor in business development. This is proven by the fact that even banks and other lenders have much stricter guidelines for small businesses. Electronic Merchant Systems have a team of specialists that can help small business owners identify reliable streams of revenue based on their specific needs. Remind your clients that EMS does more than just offer payment processing products.
Exceptional Customer Service
Small business challenges in 2019 will be highlighted by the customer experience. With so many companies competing for consumer attention, small businesses often have to sell themselves at all times just to have a shot.
Without exceptional customer service as a solution, small business owners often can’t get over the problem of being overshadowed by bigger brands.
For many small businesses, the point of sale is where the majority of customer experience takes place. Every customer interaction has to be a positive experience. A solution to this small business problem is EMS payment processing systems. A quick, secure and easy to use system can help small business owners maintain exceptional customer service. Our products help ensure that every customer is treated like a top priority, building loyalty and lasting impression.
Spreading Brand Awareness
It can often feel like the biggest brands have control over the world. Problems encountered by small business owners can sometimes center around breaking through all of the noise put out there by other brands. When people recognize your brand, it’s easier to attract new customers and build a larger client base. One of the small business challenges in 2019 will be finding ways to spread brand awareness at the local level.
While this might seem like a big undertaking, there are plenty of ways EMS can help. Product offerings such as gift cards are a great solution to this problem. It’s all about creating the opportunity for the brand to interact with people in as many unique ways as possible.
An easy way to get started is to position products in way where small business owners see the impact it will have on their brand. Getting a clearer picture of how a product will help during the day-to-day can be a useful tool.
Advances in Technology
Let’s face it, some problems encountered by small business owners stem from not keeping up with advances in technology. From not being able to accept forms of payment to keeping in touch with customers, it can be easy for a small business to be left behind.
Some challenges faced by small businesses in 2019 can be solved by incorporating new technology into the business. While it’s unrealistic to think most small businesses can stay ahead of technology of large companies, small advancements can make a world of difference.
For example, let’s say there is a local food truck that sells great food but can only accept cash. Think of all the opportunity that truck is missing out on by not being able to accept other forms of payment. That’s where EMS comes in. A small jump in technology can create new options to engage customers.
EMS Provides Solutions for Small Business Problems
At Electronic Merchant Systems, we know that our success depends on your success. It’s our job to give you the tools to support and serve your merchants. Learn more about the value you can add in the small business environment.