Small Business Statistics: An Infographic

Today’s infographic is brought to you by our friends at Harborcove!:

“Small businesses employ the majority of American workers. We’ve gathered data from various sources to give you an idea of the big picture in the lending industry, among other small business statistics. Many small business owners are skeptical on lending and how it will affect their business, both positively and negatively. After the recession, lenders expected a drop in lending from small businesses; however, they’ve stood strong in tough times and the economy shows some signs of hope. Lending is on the rise and most lenders are now expecting more in the near future. Take a look at some of these statistics around small businesses, factoring, and SBA-backed lending and let us know what you think is in store for the future!” Continue reading

Understanding Big Data for the Small Business

Understanding Big Data for the Small BusinessAs a small business owner, chances are that when you hear the term “big data,” you immediately think the concept isn’t relevant for your business. For most people, the term big data conjures up images of massive amounts of information that only giant retailers like Walmart, Target and Amazon or large government entities could handle. But big data is also exceptionally important to the little guy, as it provides the very information small businesses need to propel their success. Here we’ll explore big data, revealing what it really is and how it can be utilized by your small business.

What is big data, exactly?

Although man websites feature complex and difficult to understand definitions behind big data, this post will stick with a relatively simple one: big data is data management that centers on the customer. Some examples of big data include consumer transaction histories, social media activity, website activity logs, online videos and online databases, among others.

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