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Through social media, small businesses connect, promote and learn

By Hillary Markow Jewish Business News — Six months before it opened its doors for business, Uva Spa & Wine Boutique had Facebook fans. Less than a year later, it was working with a daily-deal site to market its products and services. The company’s low-cost social media strategy paid off early on, with 60 percent […]

Entrepreneurs’ motivation may determine job creation prospects

Entrepreneurs’ motivation may determine job creation prospects

It pays to know the difference between “necessity” entrepreneurs and “opportunity” entrepreneurs, Eva Pereira suggests in a Forbes blog that explores entrepreneur-led economic development in Haiti, where the unemployment rate has been 75 percent. Pereira cites data from the Global Entrepreneurship Monitor, a nonprofit research organization, suggesting entrepreneurs who sell their wares on the streets […]

Entrepreneurs build wealth in China

First-generation entrepreneurs lead the pack of those creating wealth in China, a New York Times blog reported. A study by Bain & Co. suggests the number of Chinese individuals with 10 million renminbi, or about $1.5 million, in assets will hit 585,000 this year, twice as many as in 2008. And many have made their […]

Growing European e-commerce market presents opportunity

Europe’s e-commerce market surpassed the U.S. market last year by generating $182 billion in sales, up 12.5 percent from the prior year, Chicago-based Internet Retailer reports. American-owned businesses generated about 12 percent of Europe’s e-retailing sales. The U.K. market, which is the largest in Europe, saw e-commerce sales climb 23 percent last year from 2009, […]

Avoid underpricing products by analyzing costs, competition and customer need

By adding value to their products and services, small businesses can boost prices without losing sales, the New York Times reported. Small business owners who underestimate their costs often underprice their goods and services. To determine how much to charge, consider competitors’ prices and whether your products offer more value, suggested pricing consulting Rafi Mohammed, […]