The State of Canadian Small Business in 2014

Posted By on Jan 5, 2014 | 0 comments


 

 

The State of Canadian Small Business in 2014

The great recession for 2008 is well behind us. The absolutely dead housing marketing that has been so prominent in the US, seems to have turned course with multiple months of growth.

Any good news for the US economy is generally good news for the Canadian economy being we are the largest  Small-business-owner1trading partner the United States has.

The State of Canadian Small Business in 2014

And unemployment in Canada has dropped down to 7.1% recently, once of it’s lowest rates in many years.

That said, I stress the word cautious, as recovery has been slower than most previous recessions, and over the last decade there has been a definite transition in North America from a manufacturing based economy to more of a service and information based economy.

The State of Canadian Small Business in 2014

The rise of the internet over the last 2 decades meant many formerly domestic jobs have been outsourced to various inexpensive countries, worldwide.

It’s really good to see in the AWeber survey that 2/3s of all small businesses plan to increase their marketing spending in 2014.

To me, that shows, they see room to grow, and they don’t see the economy sabotaging their efforts. That’s a real positive sign in my opinion.

Another positive sign is that more and more small businesses plan to increase their social media presence in 2013.

Social Media can really aid in your customer engagement, attraction and retention.

One point of concern I see is that in almost 88% of small businesses, owners serve as the primary marketer.

My expectation is that they are probably already overworked, and in many cases won’t be social media experts.

Social media, whereas effective, and contemporary as a form of marketing, is not necessarily easy. Their are so many platforms, and they can be difficult and challenging.

For that matter, time spent on social media can be distracting and time consuming, so the overworked business owner should definitely consider looking for assistance to take care of their social media efforts.

It can be a real time saver, and for that matter, effective social media, done well can be a large boon to business. Therefore for the business owner to try to do it on their own, especially when they are unfamiliar with the process, can definitely be a false economy.

Another interesting statistic is how effective email marketing can be.

Now, to be clear, email marketing is not spamming. Email marketing involving sending out a series of emails to people that give you permission, or opt-in to your email marketing service (Aweber is one of these).

Email marketing can be very effective, and as the chart shows, not only can work, and bring more business, it doesn’t normally take as much time as Social Media Marketing.

Their statistic about $1 spent on email marketing equals $40 in increased revenue, mirrors our findings, and definitely is one of the best returns on investment you can make in your business.

We have other good news for you regarding the state of small business in Canada in 2013.

pmbmediaWORKS can take care of both your social media Marketing and email marketing for your business.

If you are considering using social media marketing or email marketing in Canada, feel free to call us to chat about your thoughts, pick our brain a bit, and see if we can help you out in your project.

I can be reached directly at patrick@pmbmediaworks.com or by phone at 519 804-3683

 

About 

Hey, welcome, it's Patrick Batty, CEO of pmbmediaWORKS.
pmbmediaWORKS specializes in web design, online reputation management, and search engine optimization for companies in the Waterloo - Wellington Regions in Ontario, Canada.

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