Small business is defined as any company, partnership, or corporation that has less than five employees and less than $1 million in annual revenue. The definition of “small business” in regards to eligibility for government assistance and qualify for preferred tax treatment varies greatly by industry and country. In some cases, small businesses are completely exempt from paying taxes at all. In other cases, they are taxed on a graduated scale depending on their earnings and net income. And in other cases, they are treated as small businesses under which an owner must follow the various state and federal regulations specific to being a small business.
There are many benefits to owning a small business, and many small business owners get involved in local and national charity events. But there are also many social media marketing strategies that can be used to promote a business and help grow it into a profitable venture. For example, many small businesses have a blog, and many small businesses use social media as part of their marketing strategy. Here are a few social media tips that should be considered for your small business:
As with any type of social media, it’s important to remember that not every account you open in these different social networks will automatically become successful. In fact, there are hundreds of different types of accounts that many small business owners open. Some of these may never receive an active following, while others may receive hundreds of thousands of followers. In order to make your account successful, you need to build and maintain relationships with those who are following you. It doesn’t take long to do this once you learn the basic steps.
Most business owners fail to realize the importance of cyber crime and what it can mean to their business. Cyber crime is a variety of different activities that are performed on the Internet. For example, identity theft and credit card fraud are common cyber crimes. Many business owners do not realize that by ignoring cyber crime, they could be opening themselves up to possible losses that could have been prevented if they only took the time to be aware of the dangers. The sad truth is that many small businesses were victims of cyber crime over the past few years and hundreds of businesses have already lost millions of dollars because of it.
Another thing that many small businesses do not realize is that their business credit scores will suffer if they do not take the appropriate steps to keep themselves safe. Each year, thousands of hackers obtain credit card numbers from a number of different business sites. Because these hackers have no trouble lying about who they are and where they live, small business owners often fall victim to phishing scams. Phishing is when a hacker uses phony security information to attempt to get you to buy something you don’t actually want or need. For example, a business could be offering a free video editing software download that you enter your credit card information to, and then the site closes its doors without delivering the software.
In addition to losing out on potential customers, small businesses could also find themselves facing tax liens and wage garnishments. Tax liens mean that your business will owe taxes for a period of time based on the amount of money they owe the government. Wage garnishments mean that your employer will withhold a portion of your wages for a specified period of time until your debt is completely paid off. A number of owner-managers have found themselves in situations where they were not completely aware of their company’s policies or laws regarding these issues. While most owner-managers do understand the importance of keeping personal liability at bay, they fail to understand that it applies to their business as well. By taking the time to become proactive and educating themselves, small businesses can avoid making mistakes that could cost them millions.
A final issue that many small businesses find themselves dealing with is social media abuse. This includes people creating fake profiles on popular social media sites such as Twitter, Facebook, and MySpace in order to harass business owners. This type of social media harassment has cost many small businesses their ability to thrive on the Internet because it has made them extremely vulnerable to being scammed or falsely accused of false information. In addition to false information, many social media pages will use doctored images and videos in order to spam business owners. If a business owner ever suspects their account has been hacked, they should immediately contact a professional hacker in order to determine what has taken place and whether any data has been compromised.
While many small businesses would prefer to not deal with these potential issues, they must in order to thrive. Hiring a social media consultant to help you establish a strong social media policy and to keep an eye on your employees’ social media activities can mean the difference between success and failure. It might cost you more to hire a consultant than it would to have your employees go through training, but it’s well worth the price. Your bottom line will be much higher once you have a solid social media strategy in place, than it would be if you didn’t.