Small business week: It’s time to celebrate the heroes of the American economy, small business owners.
You create jobs and opportunity up and down Main Street USA. According to the Small Business Administration, 2 out of 3 jobs are created by small businesses. During Small Business Week, Reliant is putting a spotlight on small business based on real customers and how they’ve kept things going or kept things growing!
- On the fly – Physical expansion: An experienced restaurateur recognized an opportunity by adding a patio dining area in time for the warmer seasons. He purchased custom awnings, railing, lighting, furniture and other finishes. He kept the project on schedule and the cash infusion supported the use of quality building components. The new outdoor dining experience was a big hit, doubling restaurant revenues over the target period. So much so that he’s doing exactly the same thing with a second restaurant he owns.
- Keep on truckin’ – Upgrade equipment: An owner of a short & long haul freight transportation company wanted to enhance an area of his business that was performing flatly. The business wasn’t growing when he knew it could. To take on more local freight delivery, he added more trucks to handle the new demand. With extra funds, he was able to purchase higher quality equipment, newer trailers, and newer trucks. His local business exploded and his trucking company realized a very quick return-on-investment.
- New meaning to “retail therapy” – Inventory opportunities: A brick and mortar store owner had plans to grow her business online by launching a website. On top of that, her vision for success included a large inventory purchase in a short timeframe for a holiday show. Her business gained significant exposure through both tactics. The result of her investment was noticeable within a couple of weeks with increased sales, a larger customer base, and a strong presence at larger regional retail events.
- Find your drive – Training for all staff: An employee, turned-new-owner of an auto repair shop, knew she needed training, as did her mechanics. It was her priority when taking over the business to make sure their customers received quality, accurate and reliable service. She put money into training from day one and made other upgrades. By making an additional investment in her people and diagnostic equipment, she was able to get vehicles processed quicker than before and release them with great confidence. It all worked to position her business for sustained growth while continuing a legacy of customer loyalty.
- You can nail it – Cash flow to cover customer shortfalls: Trust is a key factor in winning contracts in the construction business. A general contractor realized he could win larger contracts if he didn’t ask for money down before starting. With this approach, he won the trust of new clients. The extra funds went to purchase materials and pay his work crew. With this technique, he was able to win and manage more work than his competitors.