Business Statistics: Marketing & Advertising vital to your Start-up Success

In the U. S. 30.7 million small and medium business enterprises (SME) accounts for 99.9% of all businesses. Here's the BREAKDOWN, small businesses in the U. S. is usually considered 500 employees or less. Businesses with fewer than 100 employees account for 98.2 percent of businesses in the U.S. and businesses with fewer than 20 employees account for 89 percent of businesses in the U.S. economy overall. )))) According to Fundera in a 2019 article about small businesses and startups, 1.5 million jobs are created annually by small businesses which accounted for a huge 64% of jobs creation in the U.S. and 90% of the Global economy is driven by small businesses. Something to be aware of though, studies show that 50% of small businesses fail within the first year and 95% within 5 years (Oberlo.com). Most business owners find a common problem when it comes to financial challenges for startup cost and every day operational cost and not the right team to work with ultimately going out of business. Finding a good ma-

Business Statistics: Marketing & Advertising vital to your Start-up Success

rketer has become essential to starting and sustaining a healthy SME. The right marketer can show you right away if your business is structured correctly by analyzing if your company is concentrated on the right consumers which we call targeting. There are quite a few highly effective ways to market a brand. Depending on the brand, some marketing methods work better than others. One way that has become of a more innovate way to market SMEs now that technology has advanced is digital advertising. Digital marketing is using online business cards, email advertisements, news letters, and using social media platforms such as 3 of the largest: Facebook (1.73 active users on), Instagram (26.9 million viewers) and Google ads (gets roughly 2 trillion searches a year). Statista, a small business research company, finds that digital ad spending will reach $117 billion in the U. S. and $335.48 worldwide this year alone, but due to Covid-19 impacting roughly 31% of all small businesses in America, it could exceed that number of dollars spent on digital advertising now that more companies are investing more into online sales and stores in the hopes to save their business during the pandemic. This is where marketing and advertising plays a big part. A survey of 529 small businesses done by ‘The Manifest’ found 87% of companies in 2019 advertises their business with digital marketing being the catalyst at which 64% of them by social media and 49% online ads. So if you’re a small business, medium or start up business, meet and consult with marketing brands to find out how much you should set aside and create a budget that will be sufficient towards your operations cost while being able to market your brand to the correct consumers you need to reach and ultimately become your longtime customer.