Small Business Resources
When it comes to growing a small business, entrepreneurs have plenty of small business resources that can help.
One way to spread the word is by posting on social media. A survey found that 64% of small businesses 12 leverage social media in their digital marketing strategy. Social media can also be used to increase sales.
Research published in the Journal of Management Studies 13 found that owners that created a business plan had an average growth of 33.4% higher than owners who didn't take the time to plan. It's important to update your business plan every year, as well.
According to a 2020 Small Business Credit Survey from the Federal Reserve, 43% of small businesses applied for a loan14 with a small business lender in 2020. In addition to loans, other options for small business owners include lines of credit and credit cards.
Is entrepreneurship the right path for you? Synovus has resources available to help make your journey more successful. Reach out to your small business banker for more information and learn more about starting a business in our Business Resource Center.