What Grants Do I Qualify For?

What Grants Do I Qualify For?

by | Dec 16, 2023 | Blog

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When it comes to starting or expanding a small business, one of the essential elements is capital. Financial assistance is necessary for the growth and success of a business, and one way to acquire this assistance is by applying for grants.

The landscape for grant opportunities is diverse, providing a multitude of options for entrepreneurs and small business owners. This variety ensures that there is likely a grant perfectly suited to your business needs.

How Can You Get Free Money From the Government?

A vast number of government agencies offer grants, thereby making them one of the most substantial and preferred sources of such financial backing.

Among these, business owners can apply for three types of grants based on their specific needs and circumstances: state, local, and federal grants.

Federal grants are notorious for offering the largest sums of money. This generous funding makes federal grants a highly attractive option for many businesses.

However, their high value also means they’re the most competitive, making it challenging for some businesses to secure this type of funding.

State grants, while offering less money than federal grants, present a less competitive landscape. While the funding might not be as substantial, the increased likelihood of securing a state grant can make it a more attractive option for some small businesses.

At the local level, grants are often easier to secure. Though they typically offer the smallest sums of money, local grants are a viable option for many businesses.

This is particularly true for small businesses just starting and needing a financial boost without facing stiff competition.

what grants do i quality for

What Is a Small Business Grant?

A grant is a form of financial aid provided to a variety of entities, including individuals, businesses, corporations, and nonprofit organizations.

These grants are often issued by a range of providers such as corporations, governments, and foundations.

One of the key benefits of grants, compared to loans, is that they do not require repayment. This feature can significantly reduce the financial burden on a small business.

Moreover, obtaining a grant does not require the business owner to give up any equity in their business, allowing them to retain full control while receiving financial support.

Tips for Successful Grant Writing

Grant writing is a critical skill in securing funding for your business. To increase your chances of success, it’s crucial to clearly articulate your business goals and the impact the grant will have. Ensure your proposal is well-organized, concise, and free of jargon.

Tailor each application to the specific grant program, emphasizing how your business aligns with the grantor’s objectives. Additionally, provide detailed budgets and projections to demonstrate your financial planning skills and the feasibility of your project.

what grants do i quality for

What Is a Good Reason to Get Government Grants?

The world of grants is varied, with many types available for different business needs. However, state and local government grants hold particular appeal for many small business owners.

Securing a government grant doesn’t only provide a much-needed financial boost, but it also adds to the credibility of a business.

This improved reputation and validation from a governmental body can pave the way for further funding opportunities in the future, bolstering the overall financial health and growth prospects of the business.

What Are the Types of Small Business Grant Programs?

The landscape of small business grant programs is wide and varied, containing five primary categories. Each of these categories has its own distinct advantages and disadvantages.

  • Federal small business grants: For businesses looking for a lot of capital, federal grants are the best option. These federal grants tend to be tied to government agencies that have clear requirements when it comes to qualifying for the capital.
  • State and regional small business grants: State grants hand out less money than federal ones, and it’s comparatively easier to qualify. For these local grants, it’s important to have a strong network to connect with the right people working at the state agencies.
  • Corporate small business grants: A number of large companies and corporations have philanthropic initiatives that include grants.
  • Startup business grants: Designed for entrepreneurs starting their business and looking to fund projects, these grants are issued by both government agencies and private companies.
  • Specialty business grants: Another option is to explore specialty grants targeting minorities. Some of these include business grants for women, women of color, and military veterans.

Navigating the Competitive Nature of Grants

The grant landscape is highly competitive, making it essential to stand out. To do so, focus on what makes your business unique and how it contributes to the community or industry in a way that aligns with the grant’s goals.

Research previous grant recipients to understand what successful applications look like. Ensure your proposal demonstrates a clear understanding of the problem your business solves and how the grant will help you achieve your goals. Lastly, adhering strictly to the application guidelines is paramount.

Federal Government Agency Grants for Small Businesses

Let’s look at some of the more popular federal small business grants.

Small Business Innovation Research and Small Business Technology Transfer Programs

The SBIR and STTR grants focus on supporting small businesses that are deeply engaged in groundbreaking research and development within the realm of scientific technology.

By establishing connections between small businesses and 11 government agencies, these programs foster innovation and facilitate growth within the small business sector. To qualify for these grants, small businesses must meet specific criteria, including employing no more than 500 individuals.

USDA Rural Business Development Grants

Sponsored by the Department of Agriculture, these grants are intended to stimulate job creation and economic development in rural areas by offering financial assistance to local businesses.

Eligibility criteria for these grants include having fewer than 50 employees and less than $1 million in gross annual revenue, as well as being located in a rural area.

National Institute of Food and Agriculture (NIFA) Grants

Aimed at bolstering small businesses in the agriculture and food industry, the NIFA grants offer financial support throughout the year.

Eligibility for these grants requires businesses to have a maximum of 500 employees.

what grants do i quality for

Program for Investors in Microentrepreneurs (PRIME)

The PRIME program serves to provide financial aid to organizations dedicated to the development of microenterprises. These organizations, in turn, provide support to disadvantaged microentrepreneurs, helping to foster entrepreneurship at the grassroots level.

Eligible organizations for this program include both private nonprofit and state-run enterprises.

Here’s a handy summary of this info:

Grant Program Description Eligibility
Small Business Innovation Research and Small Business Technology Transfer Programs Supports small businesses engaged in groundbreaking R&D in scientific technology. Small businesses with no more than 500 employees.
USDA Rural Business Development Grants Stimulates job creation and economic development in rural areas. Businesses with fewer than 50 employees, less than $1 million in gross annual revenue, and located in a rural area.
National Institute of Food and Agriculture (NIFA) Grants Bolsters small businesses in the agriculture and food industry. Businesses with a maximum of 500 employees.
Program for Investors in Microentrepreneurs (PRIME) Provides financial aid to organizations supporting the development of microenterprises. Private nonprofit and state-run organizations.

State and Regional Grant Programs for Business

Considering the rigorous nature and complexity of qualifying for federal grants, many businesses gravitate towards state and regional programs. These programs are generally easier to obtain and offer distinct benefits of their own.

State Trade Expansion Program (STEP)

The STEP program targets small businesses with aspirations to break into or expand their presence in foreign markets.

It offers funding that can be utilized for various activities, including participation in international market trade shows and other international expansion opportunities.

Small Business Development Centers

Small Business Development Centers (SBDCs), often affiliated with a state’s economic development agency or local universities, provide comprehensive support for startups and small businesses.

They function as a bridge connecting local businesses with grants, local resources, and other financing opportunities.

Economic Development Administration

As an integral part of the Department of Commerce, the Economic Development Administration serves as a robust resource and database for small businesses seeking funding opportunities.

By collaborating closely with local and state communities, the EDA manages funds and promotes regional economic growth and grant opportunities.

Minority Business Development Agency Centers

The MBDA plays a crucial role in supporting minority-owned businesses. They simplify the process of raising capital, securing contracts, and competing in various markets for these businesses.

The MBDA maintains a nationwide network of centers that work directly with minority-owned businesses, providing support and assistance as needed.

The Role of Networking in Securing Grants

Networking plays a pivotal role in grant acquisition. Building relationships with individuals in grant-awarding agencies or organizations can provide insights into what they are looking for in applicants.

Attend industry events, join relevant online forums, and engage in community activities to expand your network. Connections made through networking can also lead to recommendations or partnerships that strengthen your grant applications.

Corporate Small Business Grants

Securing financial support for business growth and expansion is often a priority for entrepreneurs.

While government agencies provide an array of grants, an increasing number of private corporations and large businesses have begun to offer small business grants as part of their community giving efforts.

These corporate small business grants present a popular alternative for businesses keen to secure funding without navigating the often lengthy wait times associated with government grants. Here are some of the prominent corporate small business grants available today.

FedEx Small Business Grant Contest

FedEx has demonstrated its commitment to nourishing the growth of small businesses through its annual FedEx Small Business Grant Contest. Each year, FedEx generously awards $250,000 across ten deserving small businesses, actively encouraging entrepreneurship and innovation.

The top three winners receive not only a substantial grant of $50,000 but also $4,000 in FedEx print and business services. To qualify for this life-changing opportunity, a small business must be based in the U.S., operational for at least six months, and employ less than 99 individuals.

Walmart Foundation Grants

Walmart, the multinational retail corporation, is not just about selling goods; it’s also about giving back to the community. Through its Walmart Foundation Grants, the corporation aims to uplift nonprofit organizations.

They have set up two distinct categories: The Community Grant Program and the National Giving Program, which are designed for local and national nonprofits, respectively.

Idea Cafe’s Small Business Grants

Distinct from many grants that require an established business to qualify, Idea Cafe’s Small Business Grants extends support even to those who are just starting their journey.

The company dispenses $1,000 grants to winners selected through community votes, thus encouraging local involvement and fostering entrepreneurial spirit.

Visa Everywhere Initiative

Visa, the world-renowned financial services corporation, has set its sights on fostering tech startups globally through its Visa Everywhere Initiative.

The winning startup, which needs to demonstrate how Visa products have been incorporated into its solutions, receives a whopping $100,000 at a global event.

Fast Break for Small Business

In a unique collaboration, the NBA, LegalZoom, WNBA, NBA G League, and Accion Opportunity Fund have created the Fast Break for Small Business initiative. It provides a significant grant of $10,000 and up to $500 in LegalZoom services to support the dreams of small business owners.

Grant Programs for Startups

Starting a new business can be a daunting task, especially when it comes to securing funding. While existing businesses have numerous avenues to access funds, startups often face more hurdles.

However, there are grant programs specifically designed to help startups overcome these financial challenges and launch their businesses successfully. Here are a few worth considering.

U.S. Chamber of Commerce Dream Big Awards

The U.S. Chamber of Commerce, recognizing the significant economic impact of small businesses, has established the Dream Big Awards. These awards offer a $25,000 grant to small businesses for their valuable contribution to the economy.

The awards are available in various categories, such as emerging business and green business, acknowledging diverse fields of entrepreneurship.

Comcast RISE

Comcast RISE is an initiative that provides free marketing services and technical support to small businesses. These awards, given quarterly, are meant for businesses that have been operational for at least a year.

To be eligible, your business must be a legally registered entity within the Comcast or Effectv service area. This program offers businesses an opportunity to leverage resources and gain an edge in a competitive market.

Caleb Brown Urban Entrepreneur’s Community Grant

The Caleb Brown Venture Capital and Consulting Project offers the Urban Entrepreneur’s Community Grant, a $1,000 grant aimed at promoting entrepreneurship among urban youth.

This grant, which runs a contest every month, is open to startups, providing them a financial leg-up in the early stages of their business venture.

Halstead Jewelry Grant Award

The Halstead Jewelry Grant Award specifically targets jewelry startups, offering them a specialized platform to kickstart their venture.

The award comprises a grant of $7,500. In addition to the financial assistance, Halstead provides startups with mentorship and guidance to help them structure their business and achieve their financial objectives.

This level of support is invaluable for startups navigating the often complex landscape of the jewelry industry.

what grants do i quality for jewelry

Specialty Small Business Grants

The business world is as diverse as it is vast. Keeping this in mind, several grants cater specifically to niche sectors and demographics, helping businesses across different backgrounds and industries achieve success. Let’s explore some specialized grant options.

Small Business Grant for Women (Amber Grant)

The Amber Grant Foundation plays a significant role in the entrepreneurial journeys of countless women-owned businesses. Every month, it awards $10,000 to a deserving business, creating a total of 12 winners over a year.

But the financial windfall doesn’t stop there. At the year’s end, one of the monthly winners gets an opportunity to add a substantial $25,000 to their grant winnings.

To further uplift women entrepreneurs, the foundation provides several other grants at various points throughout the year.

What makes these grants particularly appealing is the simplicity of the application process. Applicants need to clearly explain their business concept, outline their business plan, and pay a nominal $15 application fee.

Small Business Grant for Black Women (Black Girl Ventures)

Black Girl Ventures is a unique platform dedicated to empowering black women entrepreneurs. It provides them with coaching, resources, and funding opportunities to help them scale their business.

One of their key offerings is a crowdfunded pitch competition program. Here, applicants are given a platform to pitch their business idea to an audience and engage in an interactive Q&A session with a panel of industry experts and potential investors.

The innovative part? The audience “votes” with their dollars, directly funding the businesses they believe in.

what grants do i qualify for

Small Business Grant for Veteran-Owned Businesses (Warrior Rising)

Founded by individuals who have served their country on the battlefield, Warrior Rising is a nonprofit organization that provides assistance to veteran-owned businesses.

It offers financial support in the form of grants, provides valuable coaching from industry veterans, and makes available a variety of resources to aid business growth.

More than that, it creates a closely-knit community of veteran entrepreneurs who can support each other through their entrepreneurial journey.

Post-Grant Compliance and Reporting

After receiving a grant, it’s important to comply with the grantor’s requirements. This often involves regular reporting on how the funds are used and the progress of your project. Maintain meticulous records of all grant-related activities and expenditures.

Failure to comply with these requirements can not only jeopardize your current funding but also impact your eligibility for future grants. Establish a system for tracking progress and reporting to ensure you meet all post-grant obligations.

Where Can You Find Small Business Grants?

While searching for small business grants, one can look at a variety of sources. These grants can be found in abundance at government agencies, state-run organizations, and even private companies.

With a little bit of research and a lot of determination, finding the right grant can become a straightforward task.

How Do I Choose a Grant?

The process of choosing a grant goes beyond the financial aspect. While the funds are obviously an important factor, the decision must also take into account other benefits that come along with the grant.

Many grants provide additional benefits such as coaching from industry leaders, access to an expansive network of businesses, and much more. These perks can prove to be just as valuable in propelling your business forward as the grant funds.

How Do I Get an SBA Grant Approved?

While it is a common misconception that the Small Business Administration (SBA) offers grants to start or expand businesses, this is not the case.

The SBA instead provides grants to organizations such as nonprofits and educational institutions, as well as resource partners that support the cause of entrepreneurship. This nuanced distinction is crucial to remember when seeking out SBA grant opportunities.

Understand How to Qualify for a Small Business Grant

Qualifying for a small business grant involves understanding and fulfilling the awarding organization’s criteria. Often, businesses situated in low-income areas or those helmed by minority owners are given priority in the grant awarding process.

Understanding these specific criteria can be the defining factor in successfully securing a grant for your business.

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Apple’s New “Journal” App: A Boon for Small Business Owners

by | Dec 16, 2023 | Blog

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Apple’s latest innovation, the “Journal” app, is not just a technological advancement but a potential game-changer for small business owners. Launched with iOS 17.2, this app offers a unique platform for personal reflection and gratitude practice, aspects increasingly recognized for their positive impact on mental well-being and, consequently, business productivity.

The Journal app, designed for iPhone 15 Pro, stands out with its ability to help users document everyday moments and special events. It’s more than just a digital diary; it’s a tool that leverages on-device machine learning to generate personalized suggestions, encouraging users to engage in meaningful journaling. This feature is particularly beneficial for busy small business owners who often struggle to find time for such reflective practices.

How Small Business Owners Can Benefit

  1. Enhanced Productivity: Regular journaling has been linked to improved mental health and clarity. For small business owners, this means better decision-making and increased productivity.
  2. Creative Inspiration: The app’s personalized suggestions can serve as a source of creative inspiration, aiding in problem-solving and innovative thinking, crucial for small businesses to thrive.
  3. Organizational Tool: With features to include photos, videos, and audio recordings, Journal can double as an organizational tool, helping business owners document and track important events and ideas.

Privacy and Security

Acknowledging the sensitive nature of journal entries, Apple has emphasized privacy and security. Entries are encrypted on the iPhone, with additional security options like Face ID and Touch ID. This security is crucial for business owners who may use the app to jot down sensitive business ideas or strategies.

Integration with Third-Party Apps

The launch includes a new Journaling Suggestions API, enabling third-party journaling apps to integrate with Journal’s features. This collaboration opens avenues for a more enriched and diverse journaling experience, potentially benefiting a wider range of small business owners with varying needs and preferences.

Paul Mayne, founder of Day One, a journaling app, commends the integration of the Journaling Suggestions API, highlighting the enhanced user experience and privacy prioritization. This collaboration between Apple and third-party apps reflects a growing trend in the tech industry towards more holistic and user-centered products.

Apple’s Journal app is more than a personal tool; it’s a potential ally for small business owners in their journey towards improved mental well-being and business productivity. Its privacy-focused design and innovative features make it a noteworthy addition to the arsenal of tools available to today’s small business owners. As the digital landscape evolves, it’s clear that such applications are playing an increasingly vital role in both personal well-being and professional success.

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What is a Virtual Assistant – and 47 Tasks They Can Do for You

What is a Virtual Assistant – and 47 Tasks They Can Do for You

by | Dec 16, 2023 | Blog

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A reader asks:

What does a virtual assistant do? And how can one help my business? I run a small business but the volume of emails and customer inquiries has exploded. It’s challenging to stay organized. Yet we can’t afford to hire a full-time administrative assistant or office manager — nor do we have the space, because our office is tiny. A colleague suggested I hire a virtual assistant. Can you give me some idea of the types of tasks a virtual assistant can do?   

— Howard from Albuquerque, New Mexico 

Howard, this is a great question. Yes, we will explain exactly what a virtual assistant does.  We’ll go one better for you.

At the end of this article we outline 42 different tasks a virtual assistant (VA) can do for a small business, so that you have examples to draw on.  But first, let’s answer some basic information.

What is a Virtual Assistant

What is a Virtual Assistant?

A virtual assistant, often shortened to VA, is a professional who operates in a remote working environment, providing assistance in various areas such as administrative tasks, business development initiatives, social media management, marketing campaigns, and much more.

These professionals are pivotal in the day-to-day operation of small businesses, entrepreneurs, and managerial roles, offering support by managing recurring tasks and handling administrative work that otherwise consumes valuable time.

While these assistants typically operate from their home offices, their geographic location can be anywhere – in the United States or overseas.

Virtual assistants have seen an upsurge in their popularity within small businesses in the past decade, primarily due to their flexibility.

Depending on your business needs, a VA can be hired part-time or full-time. Whether you require their services for 20 hours, 30 hours, or even a full 40-hour week, VAs provide versatility to cater to your unique requirements.

The compensation model for virtual assistants can be quite varied. Some may prefer to be paid by the hour, while others might opt for a fixed weekly or monthly stipend.

In many cases, you may find a better value proposition by hiring a full-time virtual assistant for several reasons:

  • Prices can be surprisingly affordable, especially for offshore workers.
  • It’s easier to integrate a full-time assistant into regular workflows and get deeper benefit from the arrangement.
  • A full-time VA will be better positioned to learn any special software apps you require, develop cordial relationships with co-workers and customers, and grow with you as the business grows.

There are two primary types of virtual assistants – independent freelancers and those associated with a company or agency.

When you collaborate with a virtual assistant company, you often communicate with a manager who comprehends your needs and ensures you get a VA that is the best fit for your operations.

Virtual Assistant

Benefits of a Virtual Assistant  

In the fast-paced business world, the use of a virtual assistant can significantly amplify your productivity. Consider this – how a business owner or a key manager allocates their time could be the most critical determinant of business success.

Thus, it is imperative for them to concentrate on high-value activities and strategic matters, leaving routine and administrative tasks to their reliable virtual assistant.

Rob Levin, Chairman of Work Better Now, puts it this way, drawing from his own experience.

“In order to spend time on high-value activities, it was important for me to spend less time on lower-value activities. This is why I not only hired a virtual assistant 5 years ago but why I co-founded a company, Work Better Now , to provide virtual assistants to other business owners.”

Levin’s partner Andrew Cohen and Work Better Now’s CEO, says the most common question asked by the company’s prospective clients is “what can a virtual assistant do for me?”

To answer that question, Cohen provides a list of 47 tasks a virtual assistant can do.

47 Tasks a Virtual Assistant Can Do

A virtual assistant is a highly skilled independent contractor who remotely performs a plethora of tasks. Ranging from scheduling appointments to screening and responding to emails, a VA’s duties are far-reaching.

Yet, scheduling and emails are just the tip of the iceberg. If a task can be done online, a VA is more than capable of executing it.

This resource is your comprehensive guide to navigating the world of virtual assistants, clarifying their roles and highlighting the significant benefits they can bring to your business.

What is a Virtual Assistant calender

Calendar Management

The task of managing a calendar, both professional and personal, often poses one of the biggest challenges for entrepreneurs.

Virtual assistants step in here, transforming a daunting task into an effortless process by providing reminders and scheduling appointments. They offer the following services:

1. Coordinate and schedule calls and appointments.  A task that can save business owners approximately 10 hours a week, freeing them from doing these tasks they find cumbersome.

The key to success here is providing your VA with clear rules about scheduling, including whom and when to schedule. They can also assist in coordinating schedules for other team members.

2. Confirm appointments. It’s a best practice to provide your VA with a list of appointments to confirm, particularly for the next day. This practice can prevent time wastage caused by forgotten appointments or last-minute cancellations from the other party.

3. Provide reminders about calls and appointments.It can be easy to forget to make a call, particularly when you’re out of the office or in back-to-back meetings. A VA can provide timely reminders, calling or texting you a few minutes before your commitment to ensure you remember.

4. Reschedule calls and appointments. A VA also serves as your communication bridge, informing the other party of any schedule changes and confirming the rescheduled time.

5. Provide notice of schedule changes to others. The virtual assistant will also provide notice to the other party and get the rescheduled time confirmed.

6. Protect time. VAs can also help protect your time from unnecessary interruptions. They can step in and politely decline requests for meetings that may not be a top priority.

7. Send and maintain a “pending list”. Virtual assistants can provide you with a weekly list of individuals who haven’t responded to meeting or call requests, alerting you when your intervention may be needed.

8. Inform significant others when you will be  out of town. VAs can also keep your loved ones informed about your travel schedule. They can share a calendar invite with the out-of-town dates and your flight and hotel details, ensuring seamless communication.

What is a Virtual Assistant

Email and Contact Management and Communications

In the digital age, a massive volume of emails can inundate your inbox, and maintaining an up-to-date contact list can become a task in itself.

This is where the expertise of a virtual assistant comes into play. By entrusting these tasks to a VA, you can reclaim precious hours of your time. Here’s a look at the range of activities a VA can handle:

9. Screen emails. Virtual assistants can manage your inbox based on specific rules set by you. They can perform tasks such as deleting, responding, forwarding emails or flagging critical ones for your attention.

10. Add people to contacts. Every time you engage with someone new, be it a call, meeting, or any other form of interaction, your VA can ensure that the person’s details are promptly added to your contacts.

11. Update people’s info to contacts. There could be instances where you don’t immediately have access to all of a contact’s information. In such cases, a VA can gradually fill in these gaps, adding information to contacts as and when it becomes available, such as details from an email signature.

12. Add contacts to CRM. A key reason small businesses don’t leverage their CRM application effectively is the time-consuming data entry involved. Your VA can take on this task, adding to and organizing your CRM system.

virtual Assistant

Phone Tasks

When you require someone to handle phone interactions or even carry out light receptionist duties without the need for a physical presence, a virtual assistant can rise to the occasion.

13. Perform light receptionist duties. There are instances when you may expect important calls but might not be available to answer them personally. This is where a virtual assistant becomes invaluable.

By redirecting such calls to your VA, you can ensure you don’t miss any vital communication, while also being able to focus on your primary tasks at hand without interruptions.

14. Transcribe voicemails. In our fast-paced digital age, most voicemails can be accessed via email. These can be forwarded to your VA who, apart from transcribing the voicemail content, can also conduct any necessary follow-up activities.

This could include reaching out to the caller or setting reminders for you to respond, thereby streamlining your communication processes.

What is a Virtual Assistant travel

Travel

The task of organizing flights and hotels for business travel can be a surprisingly time-consuming process, often pulling you away from your core business operations. This is where the skills of a virtual assistant can prove indispensable. A VA can handle:

15. Research flights. Given your specific criteria such as preferred airlines, seating arrangements, and timings, a VA can perform a thorough analysis of various flight options.

They can then present you with the best alternatives, ensuring that you not only travel comfortably but also save a considerable amount of time over the course of a year.

16. Research hotels. In a manner similar to flight research, your VA can delve into hotel options based on your unique preferences.

This can include factors like the type of accommodation, location, available amenities, and any special rates you may be entitled to. They can then compile a shortlisted selection, saving you the hassle of browsing through numerous options.

17. Book flights and hotels. With your decisions made and armed with your credit card and frequent flyer information, your VA can take care of the booking process.

This can be a tedious task to handle personally, but a VA can manage this efficiently, saving you time and reducing the likelihood of errors.

18. Research transportation options. This encompasses various possibilities, from rental cars and rideshares to even local public transportation, depending on your preference and the nature of your travel.

19. Book transportation. Once the best options are identified, your VA can take it a step further and handle the bookings, akin to the way they manage your flight and hotel arrangements. This ensures a seamless travel experience from start to finish.

20. Arrange for events. If your trip involves attending or hosting events, your VA can handle the research and make the necessary arrangements. This could include finding a suitable restaurant for a business dinner, booking a meeting space, or even securing tickets for a local concert.

21. Suspend newspaper or mail. When you’re away, your VA can ensure regular services at your residence, such as newspaper delivery or mail, are temporarily suspended. This adds another layer of convenience to your travels and ensures your home operations are taken care of in your absence.

Virtual Assistant business development

Business Development

When it comes to the task of business development, the workload can be substantial and multifaceted.

From researching potential leads on platforms like LinkedIn to finding crucial contact information like email addresses, these activities often entail time-consuming groundwork.

A virtual assistant can take the reins of these tasks, allowing you to devote your focus on the interpersonal interactions pivotal to making successful sales.

22. Research leads on LinkedIn. For B2B businesses, and occasionally B2C operations, maintaining a list of potential clients is an imperative task. After gaining a deep understanding of your requirements, a virtual assistant can conduct a thorough search on LinkedIn, creating an exhaustive list of prospects that align with your ideal client profile.

23. Find email addresses. A VA can skillfully navigate databases and employ effective Google search strategies to locate the email addresses of potential clients you’re looking to contact. This not only ensures you have the correct contact information but saves you the time and effort of finding it yourself.

24. Design presentations. Your VA can add a professional touch to your proposals by locating and inserting the prospect’s logo and matching the text color accordingly. Furthermore, they can enhance the presentation by animating slides as required, giving you an edge in your business development efforts.

Management

As your business grows, it inevitably results in an increased demand for various management functions. This could include tasks like assembling reports for clients, which might require collating vast amounts of existing data.

Or perhaps you’re looking to expand your team and need assistance with recruitment activities. Your virtual assistant can shoulder these responsibilities, providing you with the time and flexibility to focus on more strategic aspects of your business

25. Assemble reports. A VA can design and generate reports that track Key Performance Indicators (KPIs) at predetermined intervals. These reports provide a clear snapshot of your business’s performance, helping you make informed decisions.

26. Help to recruit employees. The struggle to find the right talent can often be as intense as the competition for clients, if not more so.

Your VA can screen LinkedIn profiles based on the criteria you provide, compiling a list of potential candidates that might be a good fit for your team. This not only simplifies your recruitment process but ensures that you have a wider pool of talent to choose from.

What is a VA

Accounting

If managing the financial aspects of your business such as maintaining books or sending out invoices induces a sense of dread in you, it might be time to delegate these tasks to a virtual assistant.

27. Maintain the books. With appropriate training and instructions, your virtual assistant can handle financial tasks such as reviewing and matching transactions, and conducting monthly reconciliations. This ensures a streamlined bookkeeping process and consistent financial records for your business.

28. Create and send invoices. By utilizing invoice templates, a virtual assistant can draft professional invoices and distribute them to your clients. This ensures timely and accurate billing, contributing to healthy cash flow.

29. Chase down payments. Establishing an accounts receivable process is crucial for all businesses. Your VA can follow this process to collect payments that are due, which can include escalating the issue to the business owner or the relevant person when necessary.

Personal Errands

Managing personal life responsibilities alongside a thriving business can be demanding. Tasks such as making restaurant reservations or sending out gifts are integral to maintaining your personal relationships.

However, they can also be time-consuming. By leveraging the services of a virtual assistant, you can navigate these responsibilities more efficiently.

30. Make personal restaurant reservations. With access to your personal preferences and login details for reservation platforms like Open Table, your VA can make restaurant bookings on your behalf and even coordinate with the guests.

31. Make purchases. Sometimes, even platforms like Amazon might not have what you need, or the purchase process can be too tedious. Your VA can help with online shopping to secure the items you need.

32. Research and send gifts. For occasions when a generic gift card doesn’t suffice, your assistant can find something distinctive and arrange for its delivery.

33. Manage the logistics for your hobby. Whether it’s securing a studio for your garage band rehearsals or organizing your book club’s meetings, a VA can alleviate the logistical burdens, allowing you to indulge in your hobbies without stress.

34. Track down problem orders. When an order doesn’t arrive on time, your VA can liaise with the supplier, handling hold times and troubleshooting, keeping you informed throughout the process.

35. Manage the family calendar. Scheduling family events and tracking appointments can be seamlessly handled by your virtual assistant, freeing up more of your personal time.

36. Schedule medical appointments. Given relevant details such as birth dates and insurance information, a VA can arrange doctor’s visits and even start filling out the requisite paperwork.

37. Pay personal bills. For infrequent purchases or vendors who don’t offer online payment options, a virtual assistant can manage the bill payments.

38. Call stores to get information. Whether you’re hunting for a rare bottle of Scotch or a special gift, your VA can make the necessary calls to find the store stocking the item you’re searching for.

what is a VA

Operations

As a small business owner, your focus should be on strategic planning for your company’s future, conceptualizing new products and services, and driving initiatives that will elevate your business. Therefore, operational tasks such as filling out online forms and managing files can be delegated to a reliable support system, a virtual assistant.

39. Fill out online forms. Your virtual assistant, equipped with pertinent company details, can fill out various forms, such as those necessary for subscribing to Software as a Service (SaaS) products, saving you precious time.

40. Take notes from webinars. When you’re interested in the content of a webinar but can’t allocate time to watch it, even if it’s on-demand, your VA can “attend” on your behalf, note down key points and provide you with a comprehensive summary.

41. Convert files. If you’re in need of a different file format, say, a JPEG instead of a PDF, your VA can handle the conversion for you.

42. Conduct research. Your VA can carry out initial research for crucial decisions, such as evaluating various SaaS products to ascertain which one would be the most suitable for your needs.

43. Set up projects in your project management system. A VA can set up new projects in your project management tool and extend invitations to the relevant participants, ensuring a smooth kick-off.

44. Handle file management. Be it Dropbox or a local server for file storage, your virtual assistant can ensure appropriate file organization with accurate naming conventions. They also ensure access permissions are correctly allocated.

45. Schedule social media. Your virtual assistant can streamline your social media strategy by scheduling your posts according to the process you’ve outlined.

46. Proofread and edit letters, blogs and presentations. Overwhelming workloads can sometimes lead to inadvertent errors. Your VA can help proofread and edit important communications like letters, blogs, and presentations, ensuring professional and error-free content.

47. Maintain a virtual assistant manual. Business owners often prefer establishing processes over strictly adhering to them. Your VA can keep a manual documenting their tasks, which proves handy, especially during unexpected absences.

Here’s a summary of the diverse range of tasks that a Virtual Assistant can handle, all neatly packaged in a convenient comparison table.

Task Category Examples of Tasks a VA Can Perform
Calendar Management Scheduling appointments, providing reminders, rescheduling appointments
Email and Contact Management Screening emails, updating contacts, adding contacts to CRM
Phone Tasks Light receptionist duties, transcribing voicemails
Travel Arrangements Researching and booking flights/hotels, arranging transportation, suspending regular services
Business Development Researching leads, finding email addresses, designing presentations
Management Tasks Assembling reports, helping recruit employees
Accounting Maintaining books, creating invoices, managing accounts receivable
Personal Errands Making reservations, online shopping, managing personal schedules
Operations Filling out forms, taking webinar notes, managing files, scheduling social media
Tasks a VA Does Not Perform Varies depending on specific VA services, rules, and boundaries

More Tasks a Virtual Assistant Can Do

Expanding the scope of what a Virtual Assistant (VA) can do for your business opens up even more opportunities for efficiency and growth. Here are additional tasks that showcase the versatility and comprehensive capabilities of a VA:

48. Data Entry and Database Management: A VA can manage and update databases, entering new data, and ensuring that all records are accurate and up-to-date.

49. Online Research for Business Development: A VA can conduct in-depth market research, competitor analysis, or find potential business opportunities and partnerships.

50. Handling Online Purchases and Returns: Managing online transactions, tracking orders, handling returns or exchanges can also be efficiently managed by a VA.

51. Website Maintenance: Basic website updates, content uploading, and monitoring for functionality issues can be assigned to a skilled VA.

52. Managing Affiliate Programs: If your business is involved in affiliate marketing, a VA can manage affiliate relationships, track program performance, and coordinate payouts.

53. Customer Feedback Collection and Analysis: Collecting and compiling customer feedback, conducting surveys, and analyzing the results to provide actionable insights for business improvement.

Things a Virtual Assistant Does Not Do

Of course, there are a few things your virtual assistant won’t do. You needn’t worry about a virtual assistant’s attitude if you ask them to do something.  A VA does not:

  • Roll his or her eyes at you. At least you won’t see it if it happens! And you won’t “hear” it in any communication.
  • Require a bigger office or another desk. These folks won’t be sharing your office space, so there’s no need to make extra room.
  • Interject drama.  With virtual assistants you won’t have big egos to coddle. You won’t need to walk on eggshells or worry about gossip overriding professionalism. The nature of the relationship being long distance means office drama is nonexistent.

Next Steps to Get a Virtual Assistant

  • Identify the tasks in your business that would be best to outsource. Hint: Focus on tasks that do not require your expertise. Ask yourself if the task is the best use of your time or would be better done by someone else?

Once you’ve identified the tasks best suited for outsourcing, the next step is to find the right VA who can seamlessly integrate into your business operations. Services like Work Better Now can match you with VAs that not only fit your needs but also align with your business’s ethos and culture.

Incorporating a VA into your business strategy is not just about delegating tasks; it’s about empowering your business to reach its full potential. Whether it’s scaling up operations, enhancing customer engagement, or simply achieving a better work-life balance, a VA can be a pivotal part of your success story.

Remember, the role of a VA is not just to take tasks off your plate; it’s also about bringing in new perspectives, efficiency, and skills that you might not possess. This collaboration can lead to innovative solutions and strategies for your business.

By choosing the right VA, you’re not just hiring a virtual assistant; you’re investing in a partnership that can drive your business forward. So, take the time to assess your needs, explore your options, and embrace the journey towards more streamlined and effective business operations with the right Virtual Assistant by your side.

For more information about virtual assistants, read:

All answers to reader questions come from the Small Business Trends Editorial Board, with more than 50 years of combined business experience. If you would like to submit a question, please submit it here.

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The Impact of the SBA’s Surety Bond Guarantee Program in 2023

by | Dec 16, 2023 | Blog

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The U.S. Small Business Administration (SBA) has released its 2023 rankings for the most active surety companies and agencies. This announcement highlights the pivotal role of the SBA’s Surety Bond Guarantee (SBG) Program in enabling small businesses to secure over $2.2 billion in contracts, thereby supporting more than 37,000 jobs nationwide.

Jermaine Perry, the director of the Office of Surety Guarantees, remarked on the program’s unprecedented success in fiscal year 2023, stating, “This past fiscal year marks the best-performing year in 25 years for guaranteeing bid and final bonds.” He credited this achievement to the “unwavering dedication of our surety partners and agencies,” whose collaboration with the SBA was crucial in realizing these goals.

The SBG Program, working in tandem with surety companies and their agents, offers guarantees for small businesses on various projects, ranging from federal to local levels. This initiative extends beyond financial support and includes educating the businesses on the bonding process, advising on increasing bond limits, and facilitating connections with other business resources like construction attorneys and CPAs.

Katie Frost, acting associate administrator for the Office of Capital Access, emphasized the program’s impact on local economies, saying, “Our active SBG Program partners help the SBA open doors to bonding for small businesses, creating new jobs, and growing local economies.”

In fiscal 2023, the SBA guaranteed bonds for more than 1,800 small businesses, with a total contract value exceeding $7.3 billion. The top-performing surety company partners and bonding agencies for the year were recognized for their contributions to the program’s success. These partners, including American Contractors Indemnity Company and Merchants Bonding Company, among others, were pivotal in facilitating these contracts.

The SBA’s Office of Surety Guarantees continues to champion small and emerging businesses through its bond guarantee offerings. The program supports bid, performance, and payment bonds for contracts up to $6.5 million and up to $10 million for federal contracts under specific conditions.

For businesses seeking bonding support, the SBA also offers a simplified bond guarantee application through its QuickApp, catering to contracts up to $500,000. This streamlined process promises limited paperwork and quick approvals, often within a day.

As fiscal year 2024 approaches, the SBA, led by figures like Perry and Frost, aims to expand its reach and efficacy. The success of the SBG Program in 2023 serves as a testament to the SBA’s commitment to empowering small businesses, ensuring they remain competitive and robust contributors to the U.S. economy.

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10 Reddit Statistics You Should Know in 2024 [Infographic]

10 Reddit Statistics You Should Know in 2024 [Infographic]

by | Dec 16, 2023 | Blog

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You don’t have to be a social media expert to have heard of Reddit.

Though it’s generally known as a social media site, the way it works is pretty different from other social networks like Facebook and Instagram.

For starters, Reddit is a massive forum with a heavy focus on its communities. Reposts are also generally not accepted by its users.

These differences are what makes Reddit a pretty unique social network that requires a different strategy altogether if you’re thinking of marketing on Reddit. But first, you need to get the basics of Reddit and its user base right. 

In this article, we’ll present ten Reddit statistics every marketer should know. We’ll cover everything from the demographics of Reddit users and also present to you some subreddit stats so you understand how to leverage them.

Ready? Let’s get to it.

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1. How Many People Use Reddit?

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The very first thing you need to know is the number of Reddit users around the world. 

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According to the latest figures in 2022, there are 50 million daily active Reddit users worldwide (DataReportal, 2022). This is a slight 3.8 percent fall from the 52 million daily active users it had a year ago. 

The number of Reddit users ballooned since its launch in 2005. In fact, from 2015 to 2019, the number of Reddit users logging into the platform at least once a month grew by a whopping 258.33 percent. 

Experts credit the popularity of the platform to the relative anonymity users have when navigating and posting on the platform. Unlike many other social networks, Reddit can be used with just a username and email address. The strong niche communities and high standards of moderation are other reasons there are millions of consumers worldwide using Reddit every day.

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With such a large number of Reddit users, it should come as no surprise that Reddit ranks among the most popular social media platforms. 

The latest Reddit statistics show that it is currently the tenth most-used social networking site in the United States (DataReportal, 2023). More specifically, 29.3 percent of US internet users say they are Reddit users. 

However, when comparing Reddit with the top ranked social media platforms, it remains quite some distance behind leaders Facebook and Instagram and there’s still quite a way to go before Reddit catches up to them—74.2 percent of US consumers use Facebook, and 60.5 percent use Instagram.

Reddit’s global popularity as a social media platform is much lower. A recent ranking of the 15 most-used social platforms worldwide does not feature Reddit. This is as competitors like Snapchat and Instagram make the list. 

Nevertheless, these Reddit statistics show that the platform remains wildly popular, especially among males. More than six out of every ten Reddit users (63.1 percent) identify as male.

3. Desktop Traffic From Reddit Users

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Now that we have an idea of how many people use Reddit and its popularity, let’s take a look at where users are accessing it from.

The latest Reddit statistics show that nearly half (47.5 percent) of its desktop traffic originates from the US, a clear sign of its popularity there (SimilarWeb, 2022). As a matter of fact, Reddit is the 12th most popular website in the US. 

This is followed by the United Kingdom and Canada with around seven percent each, and Australia with 4.14 percent. 

It’s clear from these Reddit statistics that the platform is more popular among English-speaking communities. Germany is the only non-English-speaking country to rank in the top five, contributing to 3.29 percent of Reddit’s total desktop traffic.

4. How Long Do Reddit Users Spend on the Site

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The previous Reddit statistics are certainly proof that it’s a popular platform among social media users. But how much time are they dedicating to Reddit?

From posting and commenting to upvoting and simply reading, there’s so much Reddit users can do on the site that it’s not unheard of to spend up to hours on end browsing Reddit. On average, however, Reddit users spend just under eight minutes on the site per visit (Similarweb, 2023). During this time, the average Reddit user visits just over six different pages. 

The bounce rate of Reddit’s total site visits stands at 41.22 percent. In other words, around four in ten users who visit Reddit leave the site after having visited just one page.

5. Reddit Demographics: Age

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This then begs the question: What are Reddit’s demographics like and, more specifically, how old are its users?

According to the latest Reddit statistics, the site is the most popular among users in the 18 to 29 age group (Marketing Charts, 2021). As many as 36 percent of US adults in this age range use Reddit—more than one in three.

This is followed by 22 percent for the 30 to 49 range, which shows that Reddit is clearly more popular among younger adults. From this point on, usage starts to decrease as age increases. 

The same statistics show that ten percent of US adults between the ages of 50 and 64 use Reddit, and this figure dips further to just three percent for those aged 65 and above.

6. Number of Subreddits

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Understanding just how big Reddit’s network is requires us to first answer the question: What is a subreddit?

Reddit is essentially made up of subreddits, also known as communities, where users get together to talk about the different topics that correspond to the subreddit’s title. These communities form the core of Reddit and it’s what analysts attribute to its popularity and success.

The number of subreddits has been growing consistently since Reddit was founded 16 years ago. To date, there are more than 2.8 million subreddits (Reddit Metrics, 2021). From general topics like tech and environment to very specific niches, it’s pretty safe to say that there’s a subreddit for nearly every topic under the sun. 

If you’re thinking about marketing on Reddit, one of the first steps would be to participate in these subreddits to understand what your target audience is talking about and their interests.

7. Reddit Statistics: Number of Active Communities

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Despite the high number of subreddits, many of them haven’t seen a discussion going on in a long time. Reddit considers a subreddit, or community, to be active when it receives at least five comments a day.

According to the latest Reddit statistics, there are currently more than 100,000 active communities on the platform (Reddit, 2023). 

With higher activity, views, and engagements, these active communities may look like a good place to do some marketing in. But here’s a word of caution: If you’re thinking about leveraging the traffic there, you will want to proceed with much care.

Reddit users are generally not very tolerant of content that they deem to be too promotional or sales-y and will not hesitate to flag it as spam. By far, the best form of marketing on Reddit is to simply participate and engage with the community. Alternatively, consider using Reddit ads.

8. Best Time to Post on Reddit

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To ensure your Reddit posts get full visibility, you need to be strategic about them. However, the latest Reddit statistics show that in order to post during the best times, you may need to work outside of normal office hours. 

As a general rule of thumb, weekends and Mondays are the best time to post on Reddit (X-Cart, 2020). Keeping in mind that most Reddit users are from the US, you’ll also want to post when they’re most likely to be browsing the platform.

Research shows that Reddit users are most active in the mornings. When posting on a Monday, try to do so between 6 am and 8 am. 

The best hours to post on weekends are pushed back a little as Reddit users catch up on sleep. The ideal time to post on Reddit on Saturday is between 7 am and 9 am and from 8 am to noon on Sundays.

9. Reddit Statistics: Ideal Post Length

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If upvotes are what you’re looking for, then this Reddit statistic is an important one to keep in mind.

An analysis of 30,000 top posts in the top subreddit shows that the best-performing Reddit posts have titles that are under 120 characters (Foundation, 2019). More specifically, titles of between 60 and 80 characters perform the best and receive the highest amount of upvotes.

However, you should avoid keeping it too short. By that, we mean under 20 characters as the average number of upvotes for these posts falls by as many as 1,200 compared to those in the 60 to 80 bracket. Posts with less than 20 characters actually also perform the worst. 

Titles that are too long may also be detrimental. Those that have 120 characters or more receive much fewer upvotes (fewer than 8,000).

So when thinking of a title for your Reddit post, it’s best to adopt a Goldilocks mindset: not too short and not too long.

10. Video Usage on Reddit

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Reddit’s content today isn’t limited to just plain text and images. In 2017, Reddit rolled out its very own native video feature to allow users to upload their own videos onto the platform (as long as they’re shorter than 15 minutes) instead of posting links to third-party sites like YouTube.

This feature has exploded in popularity since and Reddit users are now watching a whopping 1.4 billion native videos on the platform every month (Reddit, 2018). According to the company, videos now constitute a big proportion of the content users are currently sharing on the site. 

Reddit is also constantly working on improving its features to allow users to do more with videos. They’ve recently launched Image Gallery, which allows users to include multiple images in their posts and is expected to provide similar support for videos very soon.

Conclusion

We hope that these Reddit statistics have helped you to better understand the platform and its users. Above all, you should now have the basic information you need to craft a Reddit marketing strategy.

As long as you keep in mind the above Reddit users and subreddit stats, you’ll be well on your way to mastering Reddit marketing.

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Summary: Reddit Statistics

Here’s a summary of the Reddit statistics you need to know in 2024:

  1. There are 50 million daily active Reddit users worldwide.
  2. Reddit is the tenth most popular social network in the US.
  3. Nearly half of Reddit’s desktop traffic comes from US users.
  4. Reddit users spend on average seven minutes and 59 seconds per visit on the site.
  5. Reddit is the most popular among users aged 18 to 29. Over one in three US adults in this age range uses Reddit.
  6. There are currently more than 2.8 million subreddits.
  7. Reddit boasts more than 100,000 active communities.
  8. The best times to post on Reddit are in the mornings on weekends and Mondays.
  9. Reddit posts with title lengths between 20 and 80 characters perform the best.
  10. Reddit users watch 1.4 billion native videos on the platform every month.
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Want to Learn More?

Is there anything else you’d like to know about Reddit statistics and wish was included in this article? Let us know in the comments below!

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