Just because you are a small business, doesn’t mean you can’t make a big impact on local charities. In fact, about 75% of small businesses donate to charities every year. Small businesses play an important role in building their communities and serving those in need. As an owner, you are probably approached a few times a year by several non-profits in your area looking for some donation dollars to help them continue to do their good work. Of course, you can’t donate to everyone, so it’s important to donate to those charities that make the most sense for you and your business.Continue reading “How to Decide Which Charity Your Small Business Will Support”
If you are thinking about starting a business after retirement, you aren’t alone, in fact, it’s a growing trend. The National Bureau of Economic Research estimates that about 25% of workers between 50-59, 46% of workers between 65-69, and 68% of workers between 75-79 are all self-employed. In fact, workers that fall into these age groups have higher self-employment rates than all workers under the age of 50 – only 20% are self-employed.Continue reading “Starting a Business After Retirement – Why Not?!”
Branding isn’t something that you just turn on and off depending on your sales numbers. After all, branding gives your audience a clear sense of purpose and well-defined roadmap of who your company is, what they do, and what your values are – in short, it’s what others think and say about your brand.
For many small business owners, focusing on their branding and marketing day in and day out just isn’t feasible – they are so busy. BUT a strong brand could be the difference between loyal customers and customers who use your business once and turn to a competitor.Continue reading “Why branding is critical now more than ever for your business”
Feedback is one of the most important things you can receive for your business. Without it, how would you know what your customers want, what they like, what they don’t like, and what you can improve on? Living in such a quantitative world – where everything can be measured- why wouldn’t we use the data gathered from our customers to improve how we interact with them? Continue reading “Why surveying your customers is smart business”
Starting your own business can be both an exciting and scary endeavor. Not only will you need passion and perseverance to weather the ups and downs, but you’ll need to be prepared well in advance of putting up that Open Sign if you want to make it in the long run. If you are thinking about starting your own business here’s what you need to know to get started. Continue reading “Starting a business? Here’s what you need to know”
There’s been a shift in recent years that has taken consumers away from the big-box retailer. Countless people are craving a more personal experience and it’s easy to do that right here in Northwest Connecticut. Continue reading “Here’s Why You Should Want to Support Local Businesses”
Sales are great. Customers keep coming back. Your cash flow is positive.
Congratulations! It sounds like your small business has successfully capitalized on a great idea. It might be time to expand.
At Litchfield Bancorp we know that small businesses are the workhorses that drive the U.S. economy. We love seeing them grow and prosper.
We applaud the entrepreneurial spirit of those who take the plunge to start their own business. Whether you will be cleverly filling a retail niche or hanging a professional shingle, there are “must do’s” that apply to virtually all start-ups.
A key takeaway is that even if you are striking out on your own as a solo practitioner, you really do have to build a team to be effective and successful. Most of our tips involve making sure you have the right folks in place to support your nascent enterprise.