How to support a friend in an SME
Before, entrepreneurs used brick and mortar to construct their dream businesses. These days, they bank on the Internet as their capital. As we welcomed the age of information and the convenience it offered, more innovative minds realised its potential commercially.
Thus giving birth to new kinds of businesses, and giving smaller ones the opportunity to shine. These businesses redefined the whole industry – it’s more fast-paced than ever and it’s not enough to adapt to new technologies.
Entrepreneurs should be forward-thinking – not only constantly looking for ways to reinvent themselves and the ways they work, but also to remain abreast with all the trends in business and tech.
So beyond keeping themselves afloat, how can you help SMEs remain relevant in a world that’s constantly evolving?
Avail of their services. Buy their products, download their apps, use their websites. Usually SMEs have promo offers when they have new launches, this could be beneficial to you in the future. To add, their solutions are more innovative and their services are usually priced cheaper than bigger corporations.
Tell your friends about them. With the digital age, communication is key here and nothing works better than testimonials from trusted mates. Share, like and comment if you have to create buzz. Eventually, word of mouth comments will spread like wildfire and wouldn’t it be great to be the source? You knew what was up before anyone!
Attend their events. For an SME to even host an event is already in itself a huge step and could possibly be a big amount taken from their budget. It doesn’t take much to show up. You are entertained, fed, get to network and usually meet innovative minds at these things. It’s a more productive way of spending a night out.
Share your network. Know someone who could use their services? Sending an e-mail to a contact or sharing a phone number wouldn’t take too much time and effort. It would be a win-win situation for all parties and who knows? Maybe one day when they get bigger, they’ll find ways to repay your support.
Give back. When you support small businesses, you are helping families feed their kids, pay their mortgage, secure their future or make ends meet. Every business experience has growth pains; and when we choose support them, we help them go through these faster.
Business mentoring. If you think the SME really has great potential and you’re an experienced entrepreneur yourself, shed some light to fellow business owners who are still in the incubation period. Recommend ways to save big on expenses such as serviced offices, apps to ease their daily tasks, or even new ways to.
Small and medium-sized enterprises (SMEs) play an important role in the world economy and contribute substantially to income, output and employment, so let’s do our part to help them out as much as we can to keep them afloat.
Want to share business advice or have free mentoring for your very own SME? Visit http://www.beccic.co.uk/ for more information on business training.