Digital commerce is responsible for providing individuals and small business owners with fantastic entrepreneurial opportunities. So, it is not surprising when a new report from Jungle Scout revealed new sellers on Amazon averaged $26K to $810K per year in profits.
Granted the higher revenue comes from large companies, but even at the low end, it is a pretty good average for the first year. This is one of the articles for the last weekly roundup of 2019 for Small Business Trends.
In addition to the benefits of selling on Amazon, the IRS is also in the news with the announcement of a new tool to help small businesses calculate income tax withholding. This means one less thing owners have to deal with when it comes to taxes.
Some of the other articles answer why you should limit the number of apps to run your business, what you need to open a retail store, and more.
As in every weekly roundup, you can find articles covering subject matter across all segments of small business trends.
Take a look at what we have on offer this week and don’t forget to search the site for something specific.
Small Business News
Wow! New Amazon Sellers Average $26k in Profits in First Year, Survey Reveals
Third-party sellers on Amazon account for almost half of all sales on the platform. And in 2018 there were 1,029,528 new sellers. According to a new report from Jungle Scout, new sellers on Amazon are earning between $26,000-$810,000 per year in profits. New sellers can be individuals, small businesses or even large companies.
IRS Tool Helps Small Businesses Calculate Income Tax Withholding
It is said death and taxes are for certain, but you can definitely add the complexity of the tax system to that mix. With that in mind, the Internal Revenue Service (IRS) has launched the Income Tax Withholding Assistant for Employers. This is a new online assistant to help small businesses calculate income tax withholdings with greater ease.
43% of Small Business Owners Support a Minimum Wage Increase, 39% Do Not
The issue of the minimum wage increase is a divisive one. The latest national survey from SCORE and OnDeck highlights this very point. The data shows it is almost a statistical tie, with support for an increase only four percent higher than against (43% to 39% respectively).
Social Media is the Top Way Small Businesses Get Customers Over Holiday Shopping Season
Shoppers love to buy things on holidays. So there is no surprise that Cyber Monday 2019 was the biggest day ever for third-party Amazon sellers. If you also want to leverage the holiday season to grow your sales, you should amp up your social media marketing strategies.
Technology Trends
Why Having Too Many Apps Running Your Business Will Hurt You
Service-based business owners face a new generation of customers. In the age of social media and online shopping, customers expect businesses to deliver an unprecedented high-level of service online and offline. You must stay available around the clock. And create a personalized experience for every customer.
8 Large Format Laser Printers for Your Small Business
Your business needs to print posters, signs, banners or blueprints. Find the perfect printer out there for your needs. Don’t overspend on something with fancy features you won’t use. But ensure it can handle whatever you need it to. Printers come in many sizes. And they cater to different budgets. These range from super expensive heavy-duty models to budget versions.
Retail Trends
How to Open a Retail Store.
Things look good for retailers this holiday season. Nearly 190 million U.S. consumers shopped from Thanksgiving Day through Cyber Monday this year. That reflects an increase of 14 percent over last year’s sales numbers according to the National Retail Federation. And most retailers are small businesses. So the future looks good to get your share of the retail pie — if you do it right.
Management
Christmas Motivational Quotes to Inspire Small Business Owners
Christmas is usually one of the busiest times of the year for many businesses. That’s especially true for small businesses. More work on less people, it can be stressful. Luckily, you can find some inspiration from some motivational quotes on faith and the Christmas season to get you focused on the next year.
Marketing Books
Will Marketing Rebellion Free Small Businesses From Their Inferiority Complex?
I’ve just received my copy of Marketing Rebellion: The Most Human Company Wins by Mark Schaefer, and boy is my brain tired, resigned, and excited at the same time. And I think that’s exactly Schaefer’s point. To get marketers to just stop for a minute, step away from the top-down corporate marketing delusion and think about the customer.
Sales
Copper Offers CRM with Full Functionality in G Suite
CRM software simply means customer relationship management. And any sized business can use them. Popular ones used by SMB’s include Salesforce Essentials and Keap — formerly Infusionsoft. Why use a CRM? A CRM collects info from existing customers or new leads. It places them into an easy interface. Fast access to your own notes on an account helps you retain clients.
Image: amazon.com