By Natalia Olson-Urtecho
The holiday shopping season is here, and according to the National Retail Federation’s Holiday Consumer Spending Survey, holiday sales will increase 4.1 percent this year. Whether it’s financing seasonal working capital needs, updating marketing plans or hiring temporary workers, SBA can help guide small businesses to maximize sales this holiday season and prepare for the holiday rush.
Get Help Financing Your Seasonal Working Capital Needs
If your small business needs help meeting short-term and cyclical working capital needs, SBA’s CAPLines Program might be for you. From contracting to purchase orders, CAPLines provides financing through a revolving line of credit. This helps more small businesses get the cash-on-hand to manage their cash cycle, scale up and create jobs. SBA streamlined the program this year to make it easier for small business owners to get financing even if collateral is tight. West Virginia small businesses like Advantage Health & Wellness, AAMCO of Morgantown, ACE Adventure Resort and Troy, LLC have used SBA loan programs to grow their businesses and create jobs for West Virginians.
Hiring Temporary or Seasonal Workers
If you plan to hire temporary or seasonal workers at your small business, be aware that some of the laws and regulations that apply to full-time employees differ from those that apply to seasonal or part-time employees. For example, independent contractors and employees are not the same, and it’s important to understand the difference. Take the time to review who is covered by Equal Employment Opportunity laws, how to determine whether a person is an independent contractor or an employee and which employees are covered under federal laws. Don’t forget that labor laws still apply to seasonal workers, as do some benefit and tax laws.
Holiday Marketing Tips
There are endless ways to promote your small business during the holiday season—here are just a few budget-friendly tips for you to consider:
- Use your Web site and social media to promote your business. While this is true year-round, your online presence, e-mail marketing and social media networks are great ways to connect with local consumers during the holiday season through timely updates, compelling calls-to-action and promotions or discounts. You may want to consider developing holiday themes for your e-mail templates and updating your Web site and Facebook profile picture with a festive look.
- Host an open house. You can use the holiday season as an opportunity to host an open house at your business to give customers an opportunity to check out your merchandise or holiday menus.
- Get involved in community and charitable events. Supporting a charity or sponsoring a community event is a great way to increase awareness for your business during the holidays. Even if you don’t have the budget to donate large sums of money, there are other ways to get involved, such as offering volunteering services, equipment or even space.
The holiday season can be overwhelming for some small businesses, but SBA is here to help. Our goal is to provide the tools and resources for small businesses to start, grow and succeed. Visit SBA’s Web site, www.sba.gov, to learn more about preparing your small business for the holiday season or to find your local SBA office for one-on-one service.
About the Author
Natalia Olson-Urtecho is the regional administrator for the U.S. Small Business Administration. She was previously founder, president and CEO of EG, a company dedicated to helping public and private entities become more profitable through environmentally friendly and socially responsible planning and strategies. Before founding EG, Olson-Urtecho was a transportation and land use planner at the Delaware Valley Regional Planning Commission and was director of global initiatives at H2L2. Olson-Urtecho has more than 15 years of experience working with international, regional and local entities. She was previously appointed to the U.S. Innovation Advisory Board and to the Philadelphia City Planning Commission and Zoning Code Commission. Olson-Urtecho received the Business Journal 2010 Minority Business Leader Award and in 2009 received the Women of Distinction Award for her work toward building a green economy. She has lived in seven countries and speaks Spanish, French and Portuguese. She holds a master’s degree in city and regional planning from the University of Pennsylvania, School of Design, and a bachelor’s degree in political science from Northeastern University. She has been a guest lecturer at the University of Pennsylvania and Temple University.
