Startup of a small-scale company isn’t easy and can profoundly impact your life. If a friend decides to take the risk to begin their own business, you’ll probably be wondering how you can help them support their tiny company.

Small-sized businesses have to contend with a lot of uncertainty and, in most cases, the probabilities are in their favor. Here are a few small-scale business failure rates as per Fundera:

20% of small companies fail in the first year of their existence

30% of small-sized businesses fail within their second year

50% of small-sized businesses fail within five years of being in their

70% of small-business owners fail within their 10th year of business.

These numbers are alarming.

The benefits of an effective business is clear. It’s not just about financial freedom, but the feeling of achievement is awe-inspiring.

Here are a few actions you can take to help a small-scale business friend of yours.

Become a customer

This one’s quite evident. When a small-scale business of your friend is beginning to grow, the most beneficial thing you can do is become a client. In helping your friend grow their early stage income is essential for their growth. Whatever your investment is, the fact that you support their cause to create a company can demonstrate that you trust their work.

Furthermore, being a customer at an early stage lets them test their business procedures. If there is a problem, like an invoice, service, etc. It’s best to have an individual who can be more understanding and help deal with the issue rather than a random stranger.

It’s also an excellent occasion to share the experience you had with a friend’s business. Did it exceed or meet your expectations? Do you see areas where they could be improved? Tell them! It can be a bit uncomfortable to give negative comments, but it could affect their business.

Make sure to be honest and provide feedback so that helps them grow into more effective as a business person.

Refer your friends

The power of word-of-mouth is often the only thing small businesses can count on, based on their budget. It is essential to talk about your company when it is appropriate.

It’s not a good idea to appear like a used-car salesperson, but if an opportunity presents itself , don’t be shy about celebrating your friend’s business. In addition, acknowledging that you are close to the owner by sharing their story will increase the likelihood that the person you’re talking to will visit the company.

People are more likely to explore something new when they have a little information and a better understanding of the plans and who’s driving the project.

Write a review online

When you’re first beginning an enterprise, one of the most difficult obstacles to overcome is credibility. It doesn’t matter if you’re a restaurant or service, retail store, etc. Many customers are hesitant to work with companies that don’t have a long tradition of customer service.

Today online reviews are usually the most reliable way for potential customers to determine the legitimacy of a company. For your convenience, posting an online review only takes few minutes and can make an immense impact on the business of your friends.

If you write your review, be sure to include details about the experience, what you enjoyed about it, what it did for you, how it benefited you, etc.

It is also possible to write reviews across multiple platforms. If, for instance, your friend owns a restaurant, submit a review to the Google listing, facebook page Yelp, GrubHub, or wherever they have their business featured. In addition to helping them build credibility, but you can also aid your business rank higher on these sites as other potential customers are using them for them.

Use social media to connect with others

Small-scale businesses depend on social media to provide more than just reviews. They use it as a platform to let their customers know what they’re doing, their story behind their business and much more. One method to show your appreciation is to follow your friend’s company on social media and interact with their posts.

It’s not a good idea to talk in front of a blank room. Your shares, likes, and comments can ignite conversation and increase the likelihood of other people interested in your acquaintance’s business. The goal is to become an advocate for the business of your friend.

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