The holiday shopping season is around the corner.
According to the National Retail Federation’s Holiday Consumer Spending Survey, holiday sales will increase 4.1 percent this year. So, it’s never too early for small businesses to prepare for the holiday rush – whether it’s financing your seasonal working capital needs, updating your marketing plan or hiring temporary workers.
Designed to help meet short-term and cyclical working capital needs, the Small Business Administration has created the CapLines Program. From contracting to purchase orders, CapLines provides financing through a revolving line of credit. This helps more small businesses get the cash-on-hand to manage their cash cycle, scale up and create jobs. The SBA streamlined the program this year to make it easier for small business owners to get financing even if collateral is tight.
If hiring temporary or seasonal workers, be aware that some of the laws and regulations that apply to full-time employees differ from those that apply to seasonal or part-time employees. For example, independent contractors and employees are not the same, and it’s important to understand the difference. Take the time to review the Equal Employment Opportunities Law at EEOC.gov to determine whether a person is an independent contractor or an employee, and which are covered under federal laws. Don’t forget that labor laws still apply to seasonal workers, as do some benefit and tax laws.
With numerous ways to promote a small business during the holiday season, here are just a few budget-friendly tips to consider:
- Use a website and social media. This is true year-round, but your online presence, email marketing and social media networks are great ways to target and connect with local consumers during the holiday season, whether it’s through timely updates, compelling calls-to-action and promotions or discounts. Small businesses might want to consider developing holiday themes for email templates and update websites and Facebook pages with festive looks.
- Host an open house. Small businesses can use the holiday season as an opportunity to “open” up and give customers an opportunity to check out the merchandise or holiday menus.
- Get involved in community and charitable events. Supporting a charity or sponsoring a community event is a great way to generate awareness during the holidays. Regardless of budget sizes, think of other ways to get involved, too, such as offering volunteer services, equipment or even space.
The holiday season can be overwhelming for some small businesses.
The SBA is here to help by providing the tools and resources for small businesses to start, grow and succeed.
—Patricia Brown-Dixon, U.S. Small Business Administration Region 7 administrator[[In-content Ad]]
