Succession Planning
Succession planning is the process of identifying and developing new leaders within a company to ensure a smooth transition of ownership or management when key personnel retire or leave the organization.
SMB Networking
SMB networking refers to the process of building relationships and connections with other small and medium-sized business owners and professionals. It helps SMBs expand their reach, gain knowledge, and collaborate on opportunities.
SMB Financing
SMB financing refers to the various financial options available to small and medium-sized businesses for funding their operations, growth, or specific projects. It includes loans, lines of credit, grants, and other forms of financing tailored to SMBs.
Small and Medium-Sized Business (SMB)
An SMB refers to a business that falls within a certain size range, typically based on factors such as revenue, number of employees, and market presence. SMBs play a significant role in the economy and often face unique challenges and opportunities.
Owner-Operator
An owner-operator is an individual who owns and operates a small business, typically playing a hands-on role in day-to-day operations.
Microbusiness
A microbusiness is a very small-scale business with a minimal number of employees and often low revenue. Microbusinesses are typically owner-operated and have limited resources.
Market Penetration
Market penetration is a strategy for growth where a business aims to increase its market share within an existing market segment. It typically involves capturing a larger customer base or increasing sales to existing customers.
Local Business
A local business is a business that primarily serves the local community, often operating within a specific geographical area. Local businesses contribute to the local economy and community development.
Franchise
A franchise is a business model where an entrepreneur (franchisee) pays a franchisor for the right to operate a business using the franchisor’s brand, systems, and support.
Family-Owned Business
A family-owned business is a business that is owned and operated by members of a family, typically spanning multiple generations. Family-owned businesses often prioritize long-term sustainability and maintaining family values.
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