Starting a business is a daunting task and finding the right service providers is an even more difficult hurdle that every small business needs to face eventually. Several professional services can help small businesses to grow. We look at five professional services that every small business needs for business growth.
What is business growth?
According to Indeed, Business growth is when business owners, employees and outside factors influence a company's success. A business grows when it expands its customer base, increases revenue or produces more products.
Inexpensive ways to fund business growth
Bootstrapping
Bootstrapping is a great way to finance your business if you have the funds available. Bootstrapping is when a business owner finances their own business. This is done through personal funds obtained from savings, loans, etc.
Crowdfunding
Crowdfunding is when you set up a campaign to ask a crowd of people to donate or invest in your business. Several crowdfunding platforms in South Africa allow you to create a campaign and people will be able to ensure that you can get investments through the website.
Angel Investors
An angel investor is a high-net-worth individual who provides capital to different startups. This individual can be a family member or friend. Angel investors get their name from being the only people who invest their funds in a company when no one else is willing to invest.
Maybe, you don't need funding and what you need is an alternative way in which you can grow your business. Growing your business through a marketplace is one solution that will not cost you a lot of money.
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5 Professional services you need for business growth
Finance and Accounting
As a business owner, the first person you should hire is an accountant. Not only can accountants save you money, but they can also act as business advisors during difficult times. Hiring an accountant means that your business can take off with confidence.
An accountant's duties include preparing and examining financial statements, making sure that taxes are being paid on time and ensuring that all financial transactions are tracked.
Marketing and Advertising
Marketing involves any promotional activity that introduces your product or service to the market. Small businesses need to invest in their marketing efforts as it helps build a strong brand, grow your business and generate sales.
There are different types of marketing methods, such as digital marketing, branding, advertising, and public relations. The most difficult task, however, will be choosing one agency among the sea of agencies available in South Africa.
Business Consultants
Running a business can be difficult at times, particularly if you do not have access to help along the way. Consulting firms are trained to do exactly that.
Business consultants are professionals who focus on understanding your business and can offer strategies to improve your business. There are different business consultants in the fields of management and strategy, operations, information technology, human resources and marketing.
Information Technology
Information Technology (IT) is one of the last services that small business owners think about. This is partly due to misconceptions about technology and how expensive it is. IT is a crucial tool to have in a small business as it can help small businesses gain a competitive edge through automation and process efficiency.
An IT professional, sometimes referred to as IT support or technician, is an individual who helps a business meet its IT needs. They watch over and maintain the business networks and computer systems. IT Professionals are responsible for installing and configuring computer systems and diagnosing and solving technical problems with hardware and software that may arise.
Website Development
You need a website to ensure that your business is visible to your target market. Did you know that a website offers a sense of credibility and that people are more likely to buy from you as a business if you have an online presence? Without a digital presence, your business does not exist.
While it is possible that you can build your website, there are several costs and requirements that business owners are not aware of. For your business to rank and be visible, the website needs to have tracking enabled, have a fast loading time, be mobile friendly, have strong security and be optimised. A web development company can help you get a professionally designed website that meets all these requirements.
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How Serv B2B Marketplace Can Help You
Are you a B2B SME looking for leads? Join Serv today for as little as R125 per month and start getting leads straight to your inbox. Using Serv, small B2B businesses can market themselves, save money, and start competing with big businesses.
SMEs looking for B2B Service Providers can also easily and quickly find a local B2B Service Provider. Whether you are looking for an accountant, web developer or business consultant, explore Serv today and find a trusted service provider.
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