Small Business owner on telephone

Small Business Month: 5 Ways to Grow Your Business

Small Business Month is observed throughout May to celebrate the 33.3 million small businesses that make up 99.9% of all businesses in the US.1 The month highlights the crucial role small businesses play in the economy, driving job creation, innovation, and community development.

Kicking off with the Small Business Administration’s National Small Business Week from April 28 to May 4, this month is an opportunity for entrepreneurs to celebrate their achievements, engage with their communities, and grow their businesses.

Let’s explore five impactful ways for entrepreneurs and small business owners to grow and build lasting relationships during Small Business Month.

1. Share Your Gratitude

Small Business Month is the perfect time to show appreciation for those who contribute to your success: your customers and employees. You can do that by:

  • Offering special discounts, promotions, or giveaways throughout the month. This can help attract new customers and reward existing ones for their support.
  • Recognizing employees for their hard work. Consider offering company swag, bonuses, or other incentives to show your gratitude.
  • Hosting an employee or customer appreciation day. If an event is not right for your business, take time to thank your customers and employees through social media, email newsletters, or one-on-one interactions.

2. Create Partnerships and Invest in Your Community

This Small Business Month, collaborate with other small businesses in your area to cross-promote products or services. This could involve joint marketing efforts, co-hosting events, or teaming up on special promotions or giveaways. `

One study found 52% of companies surveyed generate more than 20% of their revenue from partnerships.

Better yet, building a partnership with a local nonprofit can help you give back to your community. Consider donating a portion of your sales to a cause or organizing a fundraiser that showcases your business’s values. Giving back fosters strong professional connections, boosts morale, attracts employees, and generates publicity.

3. Make Meaningful Connections

You’ve built your business from the ground up and gained significant knowledge about your industry in the process. Now is a great time to offer insights, network, and advocate. Get creative: plan a networking session, set up a small business showcase featuring other local businesses, or offer free or low-cost workshops or seminars to share your expertise with others in your industry or community. This can help position your business as a leader in your field and attract potential customers or clients.

Small Business Month can also be an opportunity to advocate for policies that support small businesses at the local, state, or national level. This could involve joining or supporting small business advocacy organizations or participating in advocacy campaigns.

4. Tell Your Story

Behind every business is a story—the why behind what you do. It’s what drives you to respond to a niche market, wake up early to meet the needs of your customers, or stay up late completing the day’s last task.

Sharing your story builds a human connection with your customers. In fact, 90% of consumers think authenticity is important when choosing which brands to support.

Leverage your social media, website, or local media to share what sets your business apart. You can share a timeline of milestones, call out achievements, and talk about the impact your business has had on the community.

5. Plan for the Future

This month is the time to position yourself for future success. Use the connections you make throughout this month to inspire you. Whether it’s expanding into new markets, exploring new revenue streams, or enhancing customer satisfaction, setting strategic objectives is essential for driving growth.

Throughout Small Business Month, you can also gather feedback from customers, employees, and partners to help improve products, services, and business processes. You can leverage the insight to set future goals.

Get Ready for Growth by Protecting Your Small Business Now

Small Business Month is not only a time to celebrate your entrepreneurial journey but also an opportunity to safeguard your hard work and investment. As you plan your celebrations, remember the importance of protecting your business with commercial insurance.

Whether it’s property insurance to safeguard your physical assets, liability insurance to shield against potential lawsuits, or business interruption insurance to mitigate unexpected disruptions like natural disasters, having the right coverage can provide peace of mind and ensure your business’s resilience.

Review your insurance needs and talk to a trusted insurance professional to get the protection you need to continue thriving.