Launching and promoting products to a global audience used to be the domain of multi-national businesses with big budgets and access to prime time TV ad slots. That’s not the case anymore. Small businesses can promote their products globally for free or at affordable budgets thanks to social media.

The advent of social media has leveled the playing field for businesses to reach masses of potential customers online. You can promote and market to large audiences eager to learn more about your business and buy your products on social media, but you need to know how to do it right.

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Top Tips for Social Media Promotion

Statistics show more than 1 in 3 internet users go to social networking sites like Facebook and Twitter when looking for more information about a brand or product. And almost 90 percent of marketers who promote on social media say their social media marketing efforts have increased exposure for their business, while 75 percent say they’ve increased traffic.

If you want to tap into this powerful marketing tool, there are some top ways savvy marketers use to promote and market products on social media you can emulate:

1. Partner with Bloggers and Influencers

Social media influencers, celebrities and bloggers are already in contact with your target customers. Partnering with them can increase your brand awareness and sales. Reach out to influencers and work out an arrangement to have them mention or recommend your products or brand to their followers in subtle ways that work for everyone involved.

2. Create Explainer Videos

A whopping 80 percent of all internet traffic will come from video by 2019, according to SocialMediaToday. Savvy marketers are creating explainer and testimonial videos for social networks, which inform and inspire people to believe in their products. The trick here is to let people see your product in action and witness its benefits with their own eyes.

3. Run Social Media Contests

Run a contest is a subtle way to promote your product without actually advertising it. A contest on social media will attract your target audience’s attention, drive engagement and increase product sales and brand loyalty. For best results, keep the contest simple, fun and offer rewards to all participants.

More Tips for Promoting on Social Media – Infographic

If you want more tips for marketing and promoting your product or business on social media, check out this neat infographic designed by College Paper below. It includes useful info on how to promote your products on social media without being overly promotional.

Image: College-Paper

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Making the Internet of Things (IoT) accessible, affordable, and easy to deploy is a great way to bring small businesses into the fold with this technology. With its Sprint (NYSE: S) IoT Factory, the company has developed an IoT platform businesses of any size can leverage to improve their organization or provide IoT enabled services.

Sprint has formed a partnership with myDevices and The Goldie Group to deliver comprehensive IoT solutions. The ready-made boxed units are available in a wide selection of monitoring options across several industries, and with more on the way.

This new IoT approach by Sprint is going to give small business owners access to an industry slated to grow to trillions of dollars in the next 7 to 10 years. According to the McKinsey Global Institute, potential IoT economic impact could range from $3.9 trillion to $11.1 trillion a year by 2025. There is no reason small businesses should miss on this this enormous opportunity.

Ivo Rook, senior vice president for IoT at Sprint, pointed out the importance of harnessing this technology for small businesses owners in a press release. Rook said, “We’re excited about the effect this has on small and medium sized businesses. They can now attain the latest in advanced and secure technology at reasonable costs – with the ease of being able to buy a complete solution from the digital store, having it shipped quickly and installing it themselves within a matter of minutes. That truly drives business forward in an unprecedented manner.”

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What is the Internet of Things?

IoT or the Internet of Things is an ecosystem of connected devices with unique identifiers and the ability to transfer data over a network. The devices in the Internet of Things could include a thermostat, vehicle, refrigerator, pacemaker and almost anything else for that matter.

If it can be assigned an IP address, it can be part of the IoT ecosystem. And with the full integration of IPv6 and 5G, there could literally be trillions of devices with their own IP address monitoring everything soon.

How Many Devices are Going to be Connected?

The number is always growing, but it is in the tens of billions of devices. Statista has forecast the number of IoT devices is set to reach 31 billion by 2020 and will go to over 75.4 billion devices by 2025.

The Sprint IoT Factory

In as few as two days, the Sprint Iot Factory will deliver your ready-made package so you can deploy your device without IT or technical expertise. Some of the devices you can get right now include refrigerator temperature monitoring, energy management tools, property monitoring, rodent monitoring and more.

Small business owners running restaurants, grocery stores, rental properties and other businesses can introduce new levels of efficiency with these devices.

Rook added, “From family-owned restaurants, medical companies to heavy equipment fleet operators and everything in between, the Sprint IoT Factory is giving business owners the power to easily enhance operations — using IoT technology to track assets and connect what’s most important to them.”

IoT Business Opportunity

In addition to using the Sprint IoT Factory devices to improve the operations of your business, you can also start providing IoT related services.

Start designing, prototyping and commercializing IoT solutions with myDevices Cayenne with your own branded Box Solutions. This will give you a business opportunity in an industry worth trillions of dollars.

Image via Shutterstock

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The latest round of privacy scandals at Facebook might have been enough to crush a lesser company, but not this social media giant — at least not where small businesses are concerned. As a matter of fact, a new survey by The Manifest titled, How Small Businesses Invest in Social Media in 2018 has revealed 58 percent of respondents plan to increase their marketing investment in Facebook.

2018 Small Business Social Media Spending

In addition to the Cambridge Analytica fiasco, Facebook also admitted it scanned Messenger and was collecting massive amounts of data about its users. But all of this didn’t affect its user base or bottom line. Facebook’s Q1 2018 earnings report beat Wall Street’s revenue estimate with $11.79 billion while adding 48 million daily active users to boot.

For small businesses, this is great news because 80 percent of them use Facebook for their marketing. What’s more, the Manifest surveyed 351 of these small business owners and managers across the US and found 92 percent plan to invest more time and money on social media in 2018.

Kristen Herhold, who wrote the report on the survey, said “Smaller business owners are focusing on what they see as more important tasks to keep their company running, but they should also focus on social media. Although larger businesses are more likely to invest in social media, smaller businesses can also find success with this technology.”

How Are Small Businesses Investing in Social Media?

First it is important to repeat 92% of small businesses in 2018 plan to increase their investment in at least one social media platform. And when it comes time to make this investment, Facebook is the number one choice with 58% of respondents. Facebook is followed by YouTube and Instagram at 39%, and Twitter at 32 percent. An amazing 31% still say they would invest in Google+. Snapchat is also still relevant for a certain demographic with 21% of respondents said they would invest their marketing dollars there.

The reason social media is a good investment for small businesses at this time is that it provides measurable metrics that can be analyzed and acted upon. When it comes to the most important metric for the business owners 20% said engagement and 19 percent indicated audience growth, according to the survey. Other important metrics for small business owners and managers included clicks to website at 16%, leads or conversions at 15%, number of posts at 13% and reach at 12%.

 

Regarding the kinds of resources small businesses use to manage their social media marketing efforts, 53% said they use in-house staff while 33% of respondents each said they used software, freelancers or consultants. Only 24% said they used digital marketing or social media marketing agencies to maintain their online social presence.

You can read the rest of the report on The Manifest here.

In the report, Herhold says small businesses can gain inspiration for their own social media strategies by learning how other businesses invest in this space. She goes on to say businesses should invest in social media because, “Social media is a part of consumers’ everyday lives, and companies are hard-pressed to find consumers who aren’t affected by social media in some way.”

Image: The Manifest

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Retail has become synonymous with digital bells and whistles. Artificial intelligence is helping retailers detect patterns and predict customer preferences, augmented reality enables customers to try on clothes or test out room decor, and “scan and go” apps are changing the way shoppers pay. But even as technology has enhanced the shopping experience, consumers are often coming away unsatisfied. Call it an experience disconnect: Companies tout their latest digital innovation, but fail to focus on the aspects of customer experience that are the most meaningful.

Findings from a recent PwC Consumer Intelligence Series (CIS) survey of 15,000 global consumers confirm what we’ve observed in countless shopper–retailer interactions: The human touch still matters. Seventy-five percent of survey respondents report that they want more human interaction in the future, not less. Further, nearly three-quarters of shoppers say customer experience is more important than price and product quality when it comes to purchasing decisions; 65 percent of U.S. consumers say a positive experience with a brand is more influential than advertising, even advertising they consider “great.”

These numbers should serve as a wake-up call to retailers as they consider how best to engage with shoppers. Technology will remain central to retailers’ ability to understand and predict customer behavior. But none of these high-tech capabilities would be possible without people. Whether on the front lines or behind the scenes, it takes a veritable army of specialized staff — floor associates, data scientists, product designers, artificial intelligence experts, supply chain specialists, distribution center workers, and more, all operating in concert with technology — to delight customers with products and services they didn’t even know they wanted and keep them coming back. Stories of a retail apocalypse notwithstanding, this is a time of revival and reinvention for retailers able and willing to deliver the experience that customers increasingly demand. Here are three ways they can start.

Inspire a community of commerce. Innovative retailers understand the imperative to create a welcoming environment where shoppers enjoy spending their time as much as their money. Liberated from being just an inventory repository, today’s reimagined store is a community of commerce — an outlet for product discovery, a forum to educate and entertain, and a channel to reinforce the brand. And the opportunity for stores to transform is ripe: In PwC’s 2018 Global Consumer Insights Survey, 44 percent of shoppers reported visiting a physical store at least weekly, up from 42 percent in 2012.

In April 2018, traditional retailer Nordstrom opened a Manhattan boutique catering solely to men. Customers can have their shoes shined and meet with a tailor for custom alterations, and can virtually try on clothes using a digital avatar. The retailer is also breaking new ground with Nordstrom Local, its new concept for women. The small boutique does not carry inventory for immediate purchase but has items available for shoppers to try on. They can then buy online or order merchandise for in-store or curbside pickup. To promote a sense of community, the store also boasts shopper-friendly amenities such as personal stylists and on-site alterations, as well as a cocktail bar and nail salon.

Some companies that started as online pure plays are also finding that physical stores are a critical way to build in-person connections with customers. This omnichannel experience makes good business sense, considering that online sales still represent just 10 percent of core retail sales. Even Amazon is blurring the lines between online and offline retail with the launch of its first Amazon Go in Seattle — a cashier-less grocery store, but one with employees on site to help troubleshoot, locate items, and prepare meals for purchase.

Warby Parker, which started selling its reasonably priced, direct-to-consumer eyeglasses as an online-only brand in 2010, now has more than 60 boutiques across the U.S. and aggressive plans for more. Other online upstarts, such as mattress company Casper and socially conscious clothes brand Everlane, have recently opened physical stores to enable shoppers to interact with their products in person.

Create a culture that empowers employees. Even as technology plays a larger role, the most successful retailers understand that employees are the connective tissue in the retail experience. The risk of not getting the human element right is significant: PwC’s CIS survey found that 56 percent of shoppers will turn away from their favorite products or brands after several bad experiences, and 32 percent will walk after just one bad experience. Meanwhile, 53 percent of respondents to PwC’s Global Consumer Insights study reported that interaction with knowledgeable, helpful salespeople gave them the most satisfaction as shoppers — a higher percentage than those who named technology-enabled experiences such as personalized offers or in-store screens that display an extended range of products.

Some companies have taken the need for excellent service to heart. The Ritz-Carlton, for example, empowers each employee to spend as much as US$2,000 per guest to provide superior service, and encourages employees to use their creativity to ensure every customer experience is memorable. That relentless focus on the customer works: The Ritz-Carlton has received numerous prestigious hospitality awards for guest satisfaction and has among the highest employee retention rates in an industry notorious for employee attrition.

Another company whose core values are infused throughout the customer experience is outdoor equipment retailer REI. REI’s culture encourages employees to embrace the sporting lifestyle and share their experiences with customers. Employees get two extra days off each year to participate in outdoor and wellness-related activities. REI also closes its doors on Black Friday, encouraging employees get into nature instead. This strategy has translated into deeper customer engagement, with millions of customers participating in REI’s #OptOutside movement.

Recruit a data-literate workforce. Being in the retail business today means being in the data business. Customer experience falls short if retailers can’t effectively harness the power of technology in order to engage customers. Retailers need data scientists and other professionals with advanced analytics skills who can help companies carry out analyses and apply data to better understand customers and predict trends.

Analysis from a 2017 report by PwC and the Business-Higher Education Forum finds that retail has the highest proportion of job openings for data-driven decision makers. And retail is in the top three industries seeking functional analysts. By 2021, employer demand for data science and analytics skills will far exceed supply. To fulfill current and future needs, savvy retailers are rethinking the talent pipeline and doing more outreach to identify, develop, and recruit retail workers with in-demand skills.

To aid in this effort, some trade groups are implementing programs that prepare workers for tomorrow’s retail environment. One such program run by the NRF Foundation, the philanthropic arm of the National Retail Federation (of which one of the authors is the president, and another is on the board) offers college students — with majors as diverse as merchandising, economics, and computer engineering — an opportunity to explore retail career paths spanning the entirety of the retail ecosystem, including supply chain, logistics, marketing, finance, and technology. Elsewhere, UpSkill America, a coalition of businesses that promotes retraining, partners with retailers to reskill and upskill employees in areas such as marketing analytics, user experience, and software development.

Ultimately, the human element remains central to customer interactions, even if it’s embedded within automation, artificial intelligence, advanced analytics, or other technologies. The premiums shoppers are willing to pay — as well as the value of their loyalty — add up for companies who heed the call for a customer experience that hinges on human connection.

Work-related stress has been found to increase the risk of heart problems. Researchers from the University College London have associated stress at work with a 23 percent increase in the risk of heart attack. And Harvard researchers say women whose work is highly stressful have a 40 percent increased risk of heart disease compared with their less-stressed colleagues, including risk of heart attacks.

If you have a demanding job, which may in fact include most small business owners, it is in your best interest to take measures to manage stress and prevent the heart risks your work is causing.

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Ways to Reduce Heart Related Health Risks at Work

According to the Centers for Disease Control and Prevention (CDC), you should not allow your health to suffer due to the demands of your work. CDC acknowledges the dangers of work-related stress and recommends some healthy behaviors to combat the risk of heart problems:

1. Stop Smoking

Not smoking is one of the most important ways CDC identifies for preventing heart disease and lung cancer. Quit smoking and using other forms of tobacco to avert heart issues.

2. Limit Alcohol Use

Excessive drinking is bad for your heart and productivity. Cut or limit your alcohol intake to stay healthy.

3. Limit Salt Intake

Too much salt (sodium) in your diet can cause high blood pressure, which can lead to heart problems. Limit your salt intake to ensure you maintain normal blood pressure.

4. Limit Sugar Intake

Similarly, too much sugar in your diet can raise you blood sugar levels, which can lead to heart problems. Limit your sugar intake to prevent or control heart disease.

5. Limit Cholesterol Intake

Eating foods high in cholesterol, saturated fats and trans fat increases the risk of coming down with heart problems. Eat foods high in fiber instead to prevent high cholesterol and avoid heart issues.

6. Maintain Healthy Weight

Lack of sleep is cited as one reason people sometimes become overweight and end up feeling tired and cranky all the time at work. If you lose enough sleep, you could be too tired look for healthy eating options like fresh fruits and vegetables or to exercise. Make sure one of your strategies for maintaining a healthy weight is getting enough sleep each night, 6 to 9 hours of shuteye at least.

7. Stay Physically Active

Engaging in physical activities like jogging, bicycling or walking is another factor identified as central to preventing obesity, heart disease and helping to improve productivity.

The CDC notes most Americans engage in two or three of these healthy behaviors, but only a handful do all seven. It is important that you and your team adopt all seven habits to stay healthy at work.

More Tips for a Healthy Heart at Work

Dr. Steven Gundry, a cardiac surgeon based in Palm Springs, CA, medical innovator, and the mind behind Gundry MD, offers additional tips to upgrade your workday from harmful to healthy. From the type of food you eat to how long you stare at a computer screen, his tips provide effective ways to stay healthy at work.

Check out Dr. Gundy’s tips in this neat inforgraphic below.

Image: Dr.Gundy

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Do you want to get more out of  your small business? Working smarter is the best way to improve your operations and get better results across the board, including your bottom line.

The free Zoho One seminars being held in Miami, Atlanta, Boston, New York, Philadelphia and Chicago throughout May will help you do just that.

The suite of applications in Zoho One will give you a comprehensive view of your business helping you gain insights into your finances, customers, sales, marketing, collaboration, productivity and more.

After a seminar May 15 in Miami at which Small Business Trends founder and CEO Anita Campbell will be the speaker, the next seminars will be May 16 in Atlanta and May 18 in Boston. Register for the seminar near you below.

Register Now

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Featured Events, Contests and Awards

Zoho One Seminars: Simplify and empower your business with Zoho One
May 15, 2018, The LAB, 400 NW 26th. St. Miami FL, 33127

Learn how Zoho One, our complete suite of business apps, can help you market, sell, support, account, collaborate, and analyze so you can spend more time on what really matters.

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Zoho One Seminars: Simplify and empower your business with Zoho One
May 16, 2018, Loudermilk Conference Center, 40 Courtland Street NE, Atlanta, GA 30303

Learn how Zoho One, our complete suite of business apps, can help you market, sell, support, account, collaborate, and analyze so you can spend more time on what really matters.

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WEBINAR: Small Business Doesn’t Mean Small Security: 3 Major Threats You Need to Combat
May 16, 2018, Online

Data breaches, inventory shrinkage, theft, oh my. On average, data breaches cost $3.62 million per breach and stolen customer data costs $141 per record. And inventory shrinkage in the United States is a $60 billion a year problem. Believe it or not, your business exists within both of those realities. Do you know who is accessing your most valuable assets and sensitive information? Do you know what your employees do when you are not physically onsite? On May 16, 2018, at 2PM ET join Nicki Saffell, Senior Security Consultant at Brivo, Sara Polon, Owner of Soupergirl, a DC area small business, and Anita Campbell, Founder and CEO of Small Business Trends, for a discussion on these challenges and discover modern ways to combat these threats – including electronic access control.

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Zoho One Seminar Boston: Simplify and empower your business with Zoho One
May 18, 2018, Boston, MA

Learn how Zoho One, our complete suite of business apps, can help you market, sell, support, account, collaborate, and analyze so you can spend more time on what really matters.

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Zoho One Seminar New York: Simplify and empower your business with Zoho One
May 22, 2018, New York, NY

Learn how Zoho One, our complete suite of business apps, can help you market, sell, support, account, collaborate, and analyze so you can spend more time on what really matters.

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Zoho One Seminar Philadelphia: Simplify and empower your business with Zoho One
May 23, 2018, Philadelphia, PA

Learn how Zoho One, our complete suite of business apps, can help you market, sell, support, account, collaborate, and analyze so you can spend more time on what really matters.

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Zoho One Seminar Chicago: Simplify and empower your business with Zoho One
May 24, 2018, Chicago, IL

Learn how Zoho One, our complete suite of business apps, can help you market, sell, support, account, collaborate, and analyze so you can spend more time on what really matters.

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TECHSPO Houston 2018
June 06, 2018, Houston, Texas

TECHSPO Houston 2018 is a 2-day technology expo which takes place JUNE 6 – 7, 2018 at the luxurious Houston Marriott Eaton Centre Hotel in Houston, Ontario. TECHSPO Houston brings together developers, brands, marketers, technology providers, designers, innovators and evangelists looking to set the pace in our advanced world of technology. TECHSPO Houston 2018 promises to be better than ever and we’re excited to see all the amazing tech companies and talent that will join us. Register today!

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Growth & Success Con
September 17, 2018, Online

This small business virtual conference is dedicated to supporting entrepreneurs at all stages who are stuck in the daily grind of building their businesses and struggle to get solid advice and guidance. An amazing panel of experts in various disciplines and business coaches will share tips & tricks on topics including Growth, Marketing, Management & Business Building for Success. Register today!

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More Events

• Chief Learning Officer Forum, Spring 2018
  May 15, 2018, San Francisco, United States
• The Business Show 2018
  May 16, 2018, London, London
• AM Days
  May 16, 2018, Las Vegas, United States
• New York Blockchain Alternative Capital Summit
  May 17, 2018, NYC, NY
• TECHSPO Toronto 2018
  May 17, 2018, Toronto, Ontario
• DigiMarCon Canada 2018 – Digital Marketing Conference
  May 17, 2018, Toronto, Canada
• Small Business Expo 2018 – BOSTON
  May 17, 2018, Boston, United States
• LEAP HR: Higher Education Forum, Chicago, May 2018
  May 22, 2018, Chicago, United States
• North American Financial Information Summit 2018
  May 23, 2018, New York, United States
• Small Business Expo 2018 – CHICAGO
  May 24, 2018, Chicago, United States
• Incite Group Brand Marketing Summit 2018
  May 30, 2018, San Francisco, United States
• World Business Forum Sydney 2018
  May 30, 2018, Sydney, NSW
• International Franchise Expo
  May 31, 2018, New York, NY
• Marketing Evolution Experience
  June 03, 2018, Las Vegas, Nevada
• Predictive Analytics World – Five-in-One Mega-Conference, Vegas 2018
  June 03, 2018, Las Vegas, NV
• CSFS Small Business Division Seminar
  June 04, 2018, Birmingham, England
• BORDERLESS SUMMIT
  June 05, 2018, Online
• DigiMarCon South 2018 – Digital Marketing Conference
  June 06, 2018, Online
• Innovation Summit 2018
  June 07, 2018, NYC, New York
• Customer Service Summit West
  June 07, 2018, San Diego, California

More Contests

• Public Vote to Crown America’s Most Unique Small Business Underway
  November 08, 2018, http://www.paychex.com/vote?utm_source=contest&utm_medium=press%20release&utm_term=americas-most-unique

This weekly listing of small business events, contests and awards is provided as a community service by Small Business Trends.

You can see a full list of events, contest and award listings or post your own events by visiting the Small Business Events Calendar.

Photo via Shutterstock

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Birthdays can be a great time for businesses to reach out to customers with unique promotions. And BirthdayPak has created a system for doing just that.

The company focuses on businesses with a very specific customer niche and aims to deliver serious results. Read about the company and its marketing process in this week’s Small Business Spotlight.

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What the Business Does

Connects businesses with customers using unique birthday coupon promotions.

CEO Paul Berman told Small Business Trends, “BirthdayPak is an award-winning, multi-channel marketing program that only works with a limited number of upscale businesses, such as restaurants, day spas, salons, and boutiques and is only sent to affluent female consumers who are about to celebrate their birthday. What makes BirthdayPak offers even more appealing to the recipient is the fact that the offers are presented in the form of gift cards, not coupons…a game changer for sure! Connecting the best businesses in the community with their best customers at exactly the right time is what BirthdayPak is all about.”

Business Niche

High performing products.

Berman says, “Most of our advertising clients tell us that BirthdayPak works better than anything they have ever experienced in their business, especially in the restaurant space. We consistently perform at or above an 80% advertiser retention rate.”

How the Business Got Started

After working in other marketing spaces.

Berman explains, “A small group of smart direct marketers (most of whom are current investors in our company) realized that print and digital media would converge and also that nobody was doing a great job in the “Happy Birthday” space. We jumped on this opportunity and glad that we did!”

Biggest Win

Consistently reaching company goals.

Berman says, “Since July 2016 when I became CEO, our culture, sales energy and growth has been consistently improving, we made a profit in 2017 and are just about half-way to our goal of becoming a national brand in the 41 states we have identified where we will be doing business.”

Biggest Risk

Starting a business during an economic downturn.

Berman says, “In 2010 the “great recession” was going strong and as well, we competed with the “deal space” – Groupon, Living Social and many other upstarts where our clients were offered check vs risking shelling out money for advertising that may or may not work.”

Lesson Learned

Don’t wait to take advantage of growth opportunities.

Berman explains, “We formed our company in 2010 after a year of testing in the field, took us until 2013 to begin franchising. We could have done this after our 1st capital raise.”

How They’d Spend an Extra $100,000

Helping franchisees.

Berman says, “Advertising and national sales to help our Franchise partners to grow and profit faster as well as accelerating our plans for additional products which have been in our “What’s Next” bucket for a long while.”

Team Tradition

Celebrating at every opportunity.

Berman says, “One of our core Mantra’s is “Open & Honest” communication. It’s also “Celebrate Life” which we do at every opportunity, fun offsites, lunches together and of course, celebrating every team members’ Birthday with fun, pranks and decorations. As CEO, I am often found singing Happy Birthday to our employees and our franchise partners.”

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Find out more about the Small Biz Spotlight program

Images: BirthdayPak, Paul Berman

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After comparing 182 U.S. cities across 23 key metrics, WalletHub has released its 2018 Best Cities for Hispanic Entrepreneurs report.

WalletHub created the list by looking at cities that were business friendly to Hispanics. But the report also looked at the purchasing power of the Hispanic populations in those cities.

The vast majority of more than 4.37 million Hispanic-owned companies in the U.S. are classified as small businesses. And when these entrepreneurs establish or expand their businesses, the information can be combined with additional data to help other entrepreneurs decide where to locate their businesses.

This report highlights the contribution the Hispanic business community makes to the US economy, which, according to the US Hispanic Chamber of Commerce, amounts to $700 billion annually. This demographic is also doing much better when it comes to employment. The Bureau of Labor Statistics (BLS) says 76 percent of Hispanic males are employed, higher than white or black men in the US.

Source: WalletHub

The report compared 182 cities, which also made up the 150 most populated in the U.S., — and at least two of the most populated cities in each state. Twenty-three relevant metrics were used to evaluate “Hispanic Business-Friendliness” and “Hispanic Purchasing Power.”

The metrics were then graded on a 100-point scale, with higher being better. Some of the metrics were: Share of Hispanic-Owned Businesses; Hispanic Entrepreneurship Rate; Presence of Hispanic Chamber of Commerce; Small Business-Friendliness Score; Affordability; Income Growth for Hispanics; Hispanic Unemployment Rate; Hispanic Housing Tenure; and City Growth.

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Top Five Cities

Laredo, TX

The top city was Laredo, Texas with an overall score of 61.72. It achieved the top spot by being no. 1 in the Hispanic Business-Friendliness rank and no. 10 in the Hispanic Purchasing Power rank. It came in at no. 2 for the highest percentage of Hispanic residents.

South Burlington, VT

The number two spot went to South Burlington, Vermont with an overall score of 61.10. It ranked 10 on the friendliness scale and no. 1 in purchasing power.

Charleston, WV

Rounding out the top 3 was Charleston, West Virginia with the overall score of 57.40, and at number 32 and number 3 for the friendliness and purchasing rank respectively. Charleston also had the highest Hispanic entrepreneur rate.

Corpus Christi, TX

With an overall score of 57.29, Corpus Christi, Texas is the fourth city in Texas to make the top 10. It ranked no. 7 in business-friendliness and 12 on the purchasing power rank.

Oklahoma City, OK

An overall score of 55.56 gave Oklahoma City, Oklahoma the no. 5 spot. The city also ranked no. 6 and no. 38 for business-friendliness and purchasing power respectively.

Pembroke Pines, Florida; Amarillo, Texas; San Antonio, Texas; Bismarck, North Dakota; and Casper, Wyoming rounded out the top 10.

You can look at some of the other data points in the WalletHub report below along with the entire list.

Best Cities for Hispanic Entrepreneurs in 2018

Overall Rank (1=Best)	City	Total Score	‘Hispanic Business-Friendliness’ Rank	‘Hispanic Purchasing Power’ Rank
1	Laredo, TX	61.72	1	10
2	South Burlington, VT	61.10	10	1
3	Charleston, WV	57.40	32	3
4	Corpus Christi, TX	57.29	7	12
5	Oklahoma City, OK	55.56	6	38
6	Pembroke Pines, FL	54.93	13	16
7	Amarillo, TX	54.70	9	26
8	San Antonio, TX	54.59	12	18
9	Bismarck, ND	54.52	87	2
10	Casper, WY	53.92	14	22
11	Miami, FL	53.68	2	101
12	Tulsa, OK	53.59	5	79
13	Grand Prairie, TX	53.10	40	6
14	Sioux Falls, SD	52.98	15	31
15	Cheyenne, WY	52.89	8	56
16	Tampa, FL	52.84	3	110
17	Irving, TX	52.78	30	11
18	Fort Worth, TX	52.53	27	19
19	El Paso, TX	52.25	18	39
20	Austin, TX	52.19	33	17
21	Orlando, FL	52.19	11	51
22	Hialeah, FL	52.01	4	120
23	Juneau, AK	51.91	61	9
24	Overland Park, KS	51.77	59	7
25	Plano, TX	51.71	46	14
26	Huntington, WV	51.65	77	8
27	Gilbert, AZ	51.58	106	4
28	West Valley City, UT	51.54	25	35
29	Houston, TX	51.23	19	49
30	Boise, ID	51.21	34	21
31	Dallas, TX	50.89	22	48
32	Denver, CO	50.64	23	52
33	Lewiston, ME	50.40	91	5
34	Scottsdale, AZ	50.22	43	30
35	Rapid City, SD	50.19	35	37
36	Irvine, CA	50.15	56	20
37	Brownsville, TX	50.13	17	75
38	Springfield, MO	50.00	21	66
39	St. Petersburg, FL	49.84	65	13
40	Columbia, MD	49.70	68	15
41	Fort Lauderdale, FL	49.45	16	89
42	Jacksonville, FL	49.37	42	43
43	Salt Lake City, UT	48.99	20	88
44	Cape Coral, FL	48.62	51	45
45	Peoria, AZ	48.36	74	24
46	Arlington, TX	48.35	29	81
47	Henderson, NV	48.19	60	36
48	Chesapeake, VA	48.16	66	29
49	Atlanta, GA	48.12	28	87
50	Aurora, CO	48.08	54	46
51	Portland, ME	47.77	52	54
52	Mesa, AZ	47.75	41	72
53	Lubbock, TX	47.70	53	50
54	Nashville, TN	47.47	73	33
55	Billings, MT	47.31	26	105
56	Raleigh, NC	47.15	100	23
57	Tempe, AZ	47.12	93	27
58	Colorado Springs, CO	46.91	55	61
59	Fargo, ND	46.66	62	58
60	Port St. Lucie, FL	46.63	36	97
61	New Orleans, LA	46.29	38	106
62	Nampa, ID	46.16	85	44
63	Garland, TX	46.15	72	55
64	Chandler, AZ	46.08	95	40
65	Santa Ana, CA	45.99	49	95
66	Durham, NC	45.79	116	32
67	Fremont, CA	45.76	123	34
68	Kansas City, MO	45.68	64	73
69	St. Louis, MO	45.65	48	108
70	Gulfport, MS	45.56	45	111
71	Albuquerque, NM	45.33	57	92
72	Baton Rouge, LA	45.29	39	121
73	Anchorage, AK	45.09	99	53
74	Ontario, CA	44.91	80	71
75	Bakersfield, CA	44.66	63	94
76	Phoenix, AZ	44.59	92	63
77	Virginia Beach, VA	44.58	71	85
78	Lincoln, NE	44.57	89	68
79	Shreveport, LA	44.44	44	134
80	Burlington, VT	44.16	50	122
81	Las Vegas, NV	44.11	70	98
82	Las Cruces, NM	43.86	47	137
83	Columbus, OH	43.61	128	57
84	Charlotte, NC	43.60	103	78
85	Chattanooga, TN	43.57	112	74
86	Fort Wayne, IN	43.51	126	64
87	Cincinnati, OH	43.49	117	69
88	Washington, DC	43.31	151	41
89	Cedar Rapids, IA	43.24	118	77
90	Charleston, SC	43.18	110	83
91	Wichita, KS	43.01	83	107
92	Fontana, CA	42.94	152	42
93	Huntington Beach, CA	42.94	96	96
94	Riverside, CA	42.91	81	109
95	Santa Clarita, CA	42.78	94	102
96	Portland, OR	42.71	82	112
97	Glendale, AZ	42.66	121	84
98	Pittsburgh, PA	42.66	170	25
99	Reno, NV	42.66	107	93
100	Oxnard, CA	42.47	125	86
101	Greensboro, NC	42.47	114	90
102	Lexington-Fayette, KY	42.41	136	76
103	Omaha, NE	42.40	104	103
104	Aurora, IL	42.32	115	91
105	Anaheim, CA	42.08	58	146
106	Fort Smith, AR	41.99	142	65
107	Tucson, AZ	41.98	37	160
108	Little Rock, AR	41.93	122	100
109	Rancho Cucamonga, CA	41.83	144	67
110	San Francisco, CA	41.80	79	132
111	Moreno Valley, CA	41.59	142	80
112	Indianapolis, IN	41.56	130	99
113	North Las Vegas, NV	41.53	163	47
114	Warwick, RI	41.41	175	28
115	Mobile, AL	41.38	84	133
116	Seattle, WA	41.13	155	62
117	Richmond, VA	40.96	124	114
118	Baltimore, MD	40.94	148	82
119	Knoxville, TN	40.87	139	104
120	Tallahassee, FL	40.77	101	135
121	Honolulu, HI	40.74	105	130
122	Grand Rapids, MI	40.56	67	150
123	Birmingham, AL	40.54	75	149
124	Nashua, NH	40.49	157	70
125	Huntsville, AL	40.36	88	144
126	Oceanside, CA	40.30	119	129
127	Des Moines, IA	40.30	167	59
128	San Jose, CA	40.23	131	119
129	Jackson, MS	40.19	24	175
130	Louisville, KY	40.14	129	124
131	Newport News, VA	39.90	113	139
132	Chula Vista, CA	39.87	108	143
133	San Diego, CA	39.69	86	155
134	Santa Rosa, CA	39.59	137	128
135	Missoula, MT	39.51	31	172
136	Norfolk, VA	39.47	120	141
137	Fayetteville, NC	39.46	97	148
138	Chicago, IL	38.90	111	153
139	Columbus, GA	38.90	133	140
140	Toledo, OH	38.80	78	163
141	Columbia, SC	38.76	146	127
142	Los Angeles, CA	38.74	76	164
143	Madison, WI	38.66	90	158
144	Sacramento, CA	38.57	138	142
145	Pearl City, HI	38.56	127	147
146	Memphis, TN	38.45	153	118
147	Dover, DE	38.17	177	60
148	Stockton, CA	37.76	135	154
149	San Bernardino, CA	37.75	149	138
150	Long Beach, CA	37.63	102	165
151	Fresno, CA	37.43	134	157
152	Modesto, CA	37.39	160	123
153	Tacoma, WA	37.29	162	125
154	Minneapolis, MN	37.19	171	113
155	Winston-Salem, NC	37.14	109	166
156	Montgomery, AL	36.91	141	156
157	Yonkers, NY	36.57	150	152
158	Garden Grove, CA	36.45	166	136
159	Salem, OR	36.39	173	116
160	Spokane, WA	36.28	174	117
161	Oakland, CA	36.21	169	131
162	Manchester, NH	36.07	132	168
163	Milwaukee, WI	35.62	165	145
164	Akron, OH	35.60	176	126
165	Augusta, GA	35.45	147	159
166	New York, NY	35.38	69	182
167	Glendale, CA	35.20	164	151
168	Boston, MA	34.75	98	179
169	St. Paul, MN	34.72	154	162
170	Vancouver, WA	34.64	179	115
171	Philadelphia, PA	33.68	161	167
172	Detroit, MI	32.91	158	170
173	Jersey City, NJ	32.89	172	161
174	Rochester, NY	32.82	140	176
175	Worcester, MA	32.40	145	177
176	Newark, NJ	30.60	156	181
177	Buffalo, NY	30.56	168	174
178	Wilmington, DE	30.25	159	180
179	Cleveland, OH	30.18	178	169
180	Bridgeport, CT	28.61	180	171
181	Providence, RI	27.32	182	173
182	New Haven, CT	27.19	181	178

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The 2018 Best Cities for Small Business Growth study by Biz2Credit has revealed New York is the best city for small business growth.

Biz2Credit looked at cities across the country along with the data of small businesses including annual revenue, credits scores, and time in operation. It was then analyzed with the company’s BizAnalyzer by factoring cash flow, debt-to-income ratio, taxes and other information to determine the best cities.

The top 25 are all large cities, which give small businesses access to a large population and a diversified economy, providing more opportunities for growth. Biz2Credit CEO Rohit Arora, who oversaw the research, addressed this very point in the report.

He explains, “New York is where small businesses are making the most money, and New York companies far outpaced businesses based in other areas in annual revenues. The city has a diverse economy, and the sectors it is strong in — finance, IT, travel and tourism, real estate and construction — are thriving.”

The study looked at close to 30,000 businesses with under 250 employees, less than $10 million in annual revenue and more than a year of operation.

2018 Best Cities for Small Business Growth

New York kept its number one spot from 2017 to remain on top in 2018.  According to Arora, the thriving tech industry in the city is also driving growth in other sectors, including fashion, food and beverage and hospitality.

It also helps that New York is an iconic city which attracts global talent across all industries.

Looking at the top 10, California is the clear leader when it comes to states with the most cities on the list. The Golden State had six cities in the top 10, capturing the No. 2, 4, 5, 6, 9 and 10 spots with San Jose, San Francisco, Los Angeles, Riverside-San Bernardino, San Diego and Sacramento.

Miami-Fort Lauderdale, FL; Washington, DC; and Austin, TX got the remaining top 10 positions at No. 3, 7 and 8 respectively.

Here are the top 25 cities for small business growth in 2018, with the results for 2017 in parenthesis:

1. New York, NY (No. 1)
2. San Jose, CA (No. 4)
3. Miami-Fort Lauderdale, FL (No. 2)
4. San Francisco, CA (No. 8)
5. Los Angeles, CA (No. 5)
6. Riverside-San Bernardino, CA (No. 10)
7. Washington, DC (No. 16)
8. Austin, TX (No. 3)
9. San Diego, CA (No. 14)
10. Sacramento, CA (No. 18)
11. Phoenix, AZ (No. 7)
12. Chicago, IL (No. 19)
13. Dallas-Fort Worth, TX (No. 13)
14. Seattle, WA (No. 6)
15. Atlanta, GA (No. 20)
16. Baltimore, MD (No. 12)
17. Denver, CO (No. 17)
18. Las Vegas, NV (No. 23)
19. San Antonio, TX (No. 21)
20. Detroit, MI (No. 15)
21. Houston, TX (No. 11)
22. Philadelphia, PA (No. 24)
23. Portland, OR (No. 11)
24. Charlotte, NC (No. 22)
25. Kansas City, MO

Top 10 Metro Locations by Annual Revenue

Again, New York tops the list in this category with $1,016,446. The No. 2 and 3 positions were reversed from the best cities list, with Miami-Fort Lauderdale, FL coming in at No. 2 by averaging $854,540 and San Jose, CA at No. 3 with $748,529.

Here is the top 10 list for annual revenue:

1. New York, NY, $1,016,446
2. Miami-Fort Lauderdale, FL, $854,540
3. San Jose, CA, $748,529
4. Baltimore, MD, $726,707
5. Riverside, CA, $725,713
6. Dallas, TX, $685,531
7. Los Angeles, CA, $674,543
8. San Francisco, CA, $657,216
9. Chicago, IL, $620,036
10. Sacramento, CA, $587,682

Age of Business

The age of the small businesses in a city also indicates which have the greatest startup growth. When it came to the cities with the youngest businesses on average, Portland, OR and Las Vegas, NV were tied with 44 months each. Atlanta, GA, Denver, CO, and Philadelphia, PA, rounded out the top five startup cities with with average business ages of 47, 48, and 51 months respectively.

Top 10

1. Portland, OR, 44 months
2. Las Vegas, NV, 44 months
3. Atlanta, GA, 47 months
4. Denver, CO, 48 months
5. Philadelphia, PA, 51 months
6. Austin, TX, 51 months
7. Charlotte, NC, 52 months
8. San Antonio, TX, 52 months
9. Houston, TX, 55 months
10. Dallas, TX, 55 months

Credit Scores

When sorted by average credit score in each city, California dominated the list with five cities. San Jose came in at No. 1 with a score of 654, followed by New York at No. 2 with 639, and Riverside, CA at No. 3 with 638.

San Francisco and Miami-Ft. Lauderdale were No. 4 and 5 respectively with scores of 633 and 631.

Top 10 Cities Listed by Credit Score

1. San Jose, CA, Score: 654
2. New York, NY, 639
3. Riverside, CA, 638
4. San Francisco, CA, 633
5. Miami-Ft. Lauderdale, 631
6. Los Angeles, CA, 631
7. Washington, DC, 627
8. Las Vegas, NV, 623
9. Sacramento, CA, 623
10. Atlanta, GA, 616

You can look at the Biz2Credit infographic below to get more information.

Image: Biz2Credit

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