The pivotal position occupied by entrepreneurship as a sustainable tool for rapid economic growth and development of a country cannot be over emphasized. A global orientation means operating as if all the country markets in a company’s scope of operations (including domestic market) are approachable as a single global market and to standardize the marketing mix where culturally feasible and cost effective or to adapt the marketing mix where culturally required and cost effective”. While loan modifications such as these make SBA loans a more attractive and useful option for entrepreneurs, business plan it also makes the already complicated process of transacting an SBA loan even more complicated. Dealing with the SBA can already be problematic for startups, particularly those involved in non-traditional commercial ventures such as online businesses. In order to take the best advantage of the loan modifications, tax breaks and accelerated pay-outs offered under the new business assistance bill, startups and other businesses would be well advised to engage the services of an experienced business attorney who understands exactly how the Act can aid business formation.
As digital marketing continues to attract followers and expand the business’s online reach, what matters is the local audience, and should be a priority of your marketing strategy. How many times have you seen a seemingly viable business go out of business because they have added too many product or service lines and simply gotten too large? More often than not, they have acquired additional product lines, merged with other businesses, etc., all in an attempt to stay competitive. But that doesn’t necessarily mean that they will maintain their market share, especially if they sacrifice things like customer service, product innovation, etc. But by drafting and continuously reviewing a business plan, an organization can stay focused on their vision, operational and financing objectives; long-term goals, etc, and not venture off into other areas because they “sound good”.