If you run a small business for a long time, you will probably need to navigate through a lot of major changes. Members of the online small business community are very familiar with these shifts. From getting started to deciding when to retire, here are some valuable insights for making big changes in your business.

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The loyalty to the series clearly inspired a smart pitch, because it didn't take long for the Sharks to warm up to the idea. Plus, offering cold beers in customized Kanga coolers didn't hurt.

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Small business pay checks are growing at a fast pace as job gains slow

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Small businesses are often on the cutting edge because they have to be. With smaller foundations and limited budgets, small-business owners have to think on their feet every day, developing strategies that boost productivity and the bottom line. Because a small business can not afford to embrace strategies that do not provide quick, measurable results, the trends that spring up among them are likely to make a positive difference in any company.

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According to a new survey, the results of which were first published by Inc. on Tuesday, odds are good that you identify more with option A, even if option B is your reality. In a poll of 620 U.S. small-business owners, conducted by online lender and small-business cash-flow platform Kabbage, 60 percent of respondents believed their revenue growth underperformed that of their peers.

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A lot of small businesses appear to be doing just that though. In fact, the National Federation of Independent Businesses found that tax compliance costs are 67 percent higher for small businesses than larger ones.  They add up to $18-$19 billion per year across the U.S small business environment.

With the complexity of filing taxes quickly each year, many small business owners miss deductions that can help lower their tax burden.

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The deadline for filing taxes in the United States is eight weeks away, but new research has shown that small businesses are already being hit by tax season–related cyber-attacks.

Research conducted by Proofpoint indicates that attackers are aggressively jumping into tax season, with the deployment of two main attack strategies.

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What are the big marketing trends impacting small business? I turned to industry experts for insight. Below are seven trends that small businesses in particular should pay attention to.

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Small business sentiment is on the rise to kick off 2020, with confidence nearing all-time highs, according to data from CNBC and SurveyMonkey. The CNBC/SurveyMonkey Small Business Confidence Index climbed two points in the first quarter, from 59 to 61, as concerns over trade policy impacts lessened, thanks to a trade deal with China and the signing of the USMCA. This is a sharp turnaround from the lows seen last summer as trade turmoil weighed on Main Street’s outlook.

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Many small businesses have shut their doors but the bills are still piling up. The Small Business Administration is launching a program to assist, but many lenders are voicing concerns about it, calling the S.B.A.s expectations unrealistic.

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Small businesses drive the economy and create the lions share of jobs in the private sector economy. However, right now they are struggling mightily. Although it is recommended that companies have at least six months’ worth of revenue in the bank to weather economic disruptions such as the coronavirus, the reality is that most small companies don’t have enough cash to operate more than a couple of weeks.

For the service industry: restaurants, nail salons, haircutters, landscapers, athletic trainers, and others, the loss of weekly revenue is devastating for the owners and staff of small businesses. Most service workers live paycheck to paycheck and cannot go very long without being paid. We have already seen an enormous spike in unemployment claims, ending an era when the economy has basically been at full employment.

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Every day brings a tidal wave of choices, from hiring to product features to marketing plans. As the founder and CEO of JotForm, I know that decision-making is one of the toughest parts of my job. Technology and markets evolve at lightning speed, and there’s endless data to weigh with every choice.

On the bright side, learning to make smart decisions can help you work more productively, manage stress, dodge burnout and feel more satisfied in your business and your life.

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We had to terminate all of our employees. We talked about different options, like furloughing employees, which is a temporary termination. We talked to tons of other business founders and really leaned on legal advice to the extent that we could. In the end, we had to terminate all of our employees, which we thought was the best for them, because they could file for unemployment very quickly. When the seven-day wait period for filing for unemployment was waived, we felt that was the best way forward.

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Fifty-four percent of U.S. small businesses have either closed or expect to close temporarily over the next 14 days, according to a new Chamber of Commerce survey.

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There is a strategy to maximizing all the benefits of Congress recent $2 trillion stimulus package in response to the COVID-19 pandemic. It is not just applying for the Paycheck Protection Program (PPP) or tapping into your 401k. In fact, there are actually eight key pieces to the legislation that can assist business owners in one form or another.

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It is hard to believe that six weeks ago we were all living life as we previously knew it and making plans for the life we thought was ahead.

It has been an exhausting six weeks. It has been a frustrating and angering six weeks.  It has been a scary and anxiety-inducing six weeks. It has been a life- and business-altering six weeks.

And yet, every day — over and over and over again — I have seen small-business owners around the world step up, persist and display the type of character that I am inspired by.

I saw an amazing quote last week. It reminded that character is not built during crisis, but that character is revealed during crisis. How true is that? I look around and I see people who have been revealed as power hungry and self-centered, but I have also seen people who are kind, generous and committed to the greater good. And so many small business owners fit into that category.

Email marketing continues to be one of the most powerful tools for growing your business. (Need proof? Check out stat #1 below.)

And although email marketing has been around for decades, it’s everchanging.

New email marketing tools — like AMP for Email — pop up all of the time. Marketers are taking innovative approaches to email marketing. And email marketing benchmarks change every year.

Want to see how your own email marketing strategy compares and what other businesses are doing to innovate?

Check out this ultimate list of email marketing statistics to find out how you stack up and see email marketing benchmarks to compare your results.

General email marketing statistics and usage
79% of small businesses say email marketing is important to their business strategy. [AWeber]

60% of small businesses say their email marketing strategy is effective or very effective. [AWeber]

64% of B2B marketers use a dedicated email marketing platform. [Content Marketing Institute]

40% of B2B marketers claim that email newsletters are the most important tactic in their content marketing strategy. [Content Marketing Institute]

43% of small businesses have 500 or less email subscribers. [AWeber]

42% of small businesses with over 500 subscribers have effective or very effective email marketing strategies. [AWeber]

46% of emails are opened on mobile devices. [Litmus]

61% of consumers prefer to be contacted by brands through email. [Statista]

On average, consumers spend 2.5 hours checking email on a typical weekday. [Adobe]

Make communication a priority
In response to the restrictions temporarily in place, companies large and small have made changes to the way they do business. Restaurants are offering curbside pickup. Many retailers have closed their brick-and-mortar stores but are ramping up e-commerce with free delivery and 24-hour customer support. Grocery stores have introduced new cleaning protocols and special senior shopping hours.

No matter your industry, be proactive in sharing this information with customers and keeping them updated. In this digital-first era, all types of businesses are much better equipped to reach customers, both existing and prospective. By using multiple platforms — posting on social media, sending mobile messages, and updating your website and directory listings such as Google My Business — your business has the ability to connect with customers quickly and easily.  

Be transparent
We are living through a period of uncertainty in which nearly every American is affected by this pandemic in some way. It’s important to acknowledge that publicly. Practicing sensitivity and transparency in light of our current economic climate is not only appropriate — it’s necessary. Soften the tone in your messaging and infuse empathy in recognition of what’s happening all around us.

Customers go through a journey before they commit to a purchase. As a small business owner, it is your duty to engage and interact with them until they do so. And when they do, you continue to nurture them so they become your brand’s advocates.

With content marketing, you can convert random online searchers to website visitors, make them a part of your tribe and drive more sales by consistently providing them with valuable information.

For small businesses, resources can be tight. Especially right now.
Limited budgets can present challenges for how businesses raise awareness, acquire customers, and generate revenue.

In fact, 39% of small business owners agree that a limited budget is a major roadblock in growing their businesses.

However, there are plenty of low-cost, high-yielding marketing hacks that can help you reach your customers.
Get featured in press by responding to journalists and podcasters
Personalize cold outreach campaigns
Correct Existing Mentions of Your Brand
Add videos to your landing page
Repurpose old blog content

Understand the Challenges Your Customers Are Facing
Before you can market during any period, you need to be able to solve a problem for your customers. During a pandemic, the problem you are solving may change. So you have to be able to communicate that. Part of this is just understanding the current climate. It is probably safe to say that many small business customers are hurting financially. Some may also be in a hurry to receive specific types of items. By understanding your market and staying up-to-date on news in your industry, you should be well versed on the basic challenges that might impact your strategy or talking points. However, Perkin also recommends surveying customers however possible so you can quantify how many of them are struggling in specific areas. Once you know the problems your customers are facing, you can work backward to create your marketing communication strategy.

Learn How to Communicate with New Customers
In fact, you may need to pivot all or part of your business strategy in order to stay afloat during the pandemic. For example, Marran pointed out a UPS client that previously sold pet costumes, but has recently shifted into manufacturing face masks and PPE. This is likely to be a temporary change. But they still need to shift their marketing and communication strategy toward hospitals and B2B customers, rather than focusing on the consumers they normally serve.

The law of the jungle states, in evolutionary terms, that only the fittest survive. Before you can effectively brand an organization, you need to understand its clients/customers/donors/community and its competitors. In the marketing world, this is called a landscape analysis.

Often, companies — especially startups and nonprofits — will say they do not have competitors. Let me get this out right away: Everyone has competitors. Even nonprofits. If you think you do not have competitors, that means you don’t understand what a competitor is. A competitor is any person or organization taking business away from you.

For small business owners, tidying up your digital space means conducting a virtual sweep of your website and organizations security practices. I recommend that small business owners use the following cybersecurity spring cleaning checklist to ensure they don't miss any important items.

Spring Clean Your Website
The first step of cybersecurity spring cleaning is to deep clean your business website. By clearing out what you do not need, you can improve the overall health of your site.

Start with decluttering plugins and software. You should only keep the ones you're using and delete the rest to reduce your sites cybersecurity risk.

After you remove any plugins and software you are not using, make sure the ones you keep are updated. In addition, continue to proactively monitor your plugins and software on a regular basis and check for security updates.

It's also the perfect time to take a closer look at the data you're gathering from customers. Ask yourself if you are collecting information that truly benefits your business, such as information that drives value for marketing, sales, and services. If the type of information you collect has changed over time, delete any data and applications you're no longer using such as analytics code, remarketing snippets, affiliate tracking, and CRM tracking.

Seventeen-year-old Avi Schiffmann is an entrepreneur. But he is a different kind of entrepreneur. He’s not in it for the profits, fame and continued growth opportunities. At least, not right now.

Schiffmann, a high school teenager who lives in Washington State, has attracted worldwide attention through his amazing Survival Rate Calculator website, which tracks critical information related to the coronavirus outbreak. Since launching the site during the early stages of the pandemic, Schiffmann's web crawlers have been configured to pull in, parse and process real time data from the World Health Organization, Centers for Disease Control and other governmental websites and convert that data to show infections, deaths, recoveries and rates of change for all countries around the world. The site breaks down infections on user-friendly maps, provides health information and also attempts to calculate a survival rate of someone who contracts COVID-19, based on user-submitted health data of age, gender and other health factors.

Is the site popular? You bet. According to a profile of Schiffmann on Business Insider, the site attracts about 30 million visitors a day and 700 million total so far.

Since the onset of the coronavirus pandemic, consumer confidence has declined in all 50 states, according to ongoing research from Morning Consult. And we all know that consumer confidence is a critical component of economic growth. As businesses begin to reopen across America, they need to work hard to restore this critical sentiment. To that end, consumer confidence may well be the only marketing message that matters for some time to come.

As consumers weigh the pros and cons of carefully reemerging from quarantine, many marketers will need to make a point of reassuring them in their messaging. Here are four smart marketing approaches to consider as you seek to restore consumer confidence.

1. Reframe social distancing.
2. Acknowledge the struggle.
3. Build consumer trust.
4. Emphasize safety.

The current global forecast estimates the average person will watch 100 minutes of online video each day in 2021. In fact, a survey of marketers reveals 88% of them say video marketing provides them with a positive Return on Investments (ROI). Furthermore, 92% of marketers say video is an important part of a marketing strategy. With 75 million Americans watching online videos every day, video marketing offers enticing opportunities for marketers to capitalize on the rise in popularity of online videos.

The good news is you don’t need much to get started. With a good camera or a decent smartphone, you too can make great videos for your business. Your marketing video can be used for your website or social media platforms like YouTube, Facebook, and Instagram; the sky is literally the limit.  A caveat here is making a marketing video requires a bit of a learning curve. First, you will need to have the right amount of knowledge and tools to make a meaningful impact from your video marketing effort.

1. Apply for a line of credit
2. Have cash on hand
3. Negotiate with your vendors
4. Be as adaptable as possible
5. Invest in safety

You might have missed it amid all the goings-on since then, but in August 2019, a new law was passed that gives small businesses (and individuals/married couples) a new and simplified way to go through bankruptcy without needing to sell off their assets.

In other words, you can keep operating your business while going through and emerging from bankruptcy. And you can do it faster and cheaper than before.

The Small Business Reorganization Act added a new section to Chapter 11 of the U.S. Bankruptcy Code. Subchapter V lets entities with debts below a threshold amount go through a streamlined court process, establishing and approving new repayment plans that creditors are required to accept (creditors get input, too, but this is limited and more streamlined as well). You don't have to sell off your assets as in a Chapter 7 bankruptcy, and you can keep operating without needing to meet the strict Chapter 13 requirements or suffering the prohibitive expense of a standard Chapter 11 process.

Your business might be in dire straits, but weathering this rough patch might mean a return to profitability.

1. Develop a professional mobile-friendly business website.

Your website must be professional and should provide a rich experience and the feel of your brand to users. Here are a few tips to make your website professional and SEO-friendly:

• Use your business logo and branding on your website.

• Make sure your website is mobile-friendly (more than half of local searches are mobile searches)

• Your website should load in less than three seconds.

• Use a clean, minimal design, and avoid fancy styles.

• Your website must be well structured and easy to use.

Many business owners waste too much money creating a professional small business website. But there is no need to waste too much money on a business website. You can create a professional website for less than $500. So do not waste more money on website design, but invest that extra money in SEO.

2. Identify profitable keywords.

The success of an SEO campaign depends on the targeted keywords. Thats why you need to choose the right and profitable keywords for your small business. All keywords are not equal; some keywords could have high search volume but not profitability, while some could be profitable but have small volumes.

Also, focus on long-tail keywords because they are easy to rank and more profitable than short keywords. The profitability of a keyword depends on the nature of the keyword. For that, you need to understand the intent behind that keyword — why a user is searching that.

For example, when a person searches ice cream on Google, they want to know about ice cream, which means it has informational intent. But when a person searches for best choco-milk ice cream near me, the person wants to eat ice cream. This will be a profitable keyword for you to target.

3. Create a separate page for each product.

I found that many small businesses list all their products on one page like the homepage, but this is not a good practice. If you want to get more profit from your local SEO efforts, then you should create specific pages for each product. That way you can rank higher for each product page for multiple keywords.

For example, if you have a clothing store website, then you need to create separate pages for each product, such as one page for jeans and another for shirts. Also, you can create further subpages, such as jeans> men jeans> blue jeans. This can boost your rankings and revenue and reduce your efforts.

4. Use schema.

Structured data is helping Google better understand webpages. That’s why it can help you rank higher and get the advantage of other SERP features like featured snippets, knowledge graphs, etc. Product schema, local business, FAQ and others are must-use schema types for every business.

The CEOs of Apple, Amazon, Google, and Facebook faced the House Judiciary Committee virtually today, where they fielded questions about whether their respective tech companies take advantage of their dominant positions in the market to enhance their bottom lines.

Spoiler: They all said they do not.

Rep. Cicilline said House Judiciary will publish a report on the Antitrust Subcommittees finding, which will propose solutions. but his hearing has made one fact clear to me: These companies as they exist today have monopoly power. Some need to be broken up. All need to be properly regulated and held accountable, he concluded.

There is no easy way to say this: America’s small businesses are dying. Small businesses in some industries – retail, restaurant, travel, hospitality – can now be considered endangered species.

If you want to help them survive – if you want your own small business to survive – the most important thing you can do is simple: Wear a mask.

Wear a mask. It is not a political statement. It’s a way to try to stop the spread of the coronavirus, get this country reopened and save lives and businesses, especially small businesses.

Consider just a few statistics:

• Yelp reported 71,500 businesses that were listed on their site have closed for good since March 1.

• 80% of independent restaurants aren’t sure they’ll survive the COVID-19 pandemic.

Remote work was already on the rise before Covid-19 forced many employees to transition to working from home. Today, as many organizations continue to operate remotely due to the pandemic, how can business leaders address the array of security challenges their companies face?

Network security should be top of mind for businesses of all sizes across a variety of industries. While the list of companies experiencing major security breaches in recent years includes some well-known enterprises, addressing security threats is an especially hefty challenge for small businesses—particularly if those businesses lack the resources to implement strong controls and educate staff.

The food and beverage industry is a tough game. Sixty percent of restaurants don’t make it past their first year, and 80 percent go out of business within five years. Those are hard odds.

Franchising takes some of the risks out of the equation by giving you a proven model to work with. But being a franchisor with a proven model under your arm does not mean you’re suddenly bulletproof or immune to the laws of economics. If you start making unforced errors, you are going to fail.

Here are the five reasons most people fail as the owner of a franchise. Avoid these deadly sins at all costs:

Sin 1: Financial complacency
Sin 2: Operational obtuseness
Sin 3: Poor hiring choices
Sin 4: Myopic risk management
Sin 5: Mediocre offerings

Ankur Jains investment firm, Kairos, is funding training sessions and job placement for 10,000 workers.

The face-covering business went from zero to crazy money in five months, with manufacturers pivoting production lines and brands seizing the moment to advertise.

Practice Your On-Camera Speaking Skills
Nothing is worse than having a boring presenter be it in person or on camera. Just like public speaking, presenting on camera is a learned skill anyone can achieve if they have the right guidance. Here are 10 tips to speaking on camera

Dress to Impress
Even though no one can see what you are wearing below the computer desk, you want to suit up.

Use the 8% Rule
As Michael, the CEO of Teambuilding explains Any Zoom meeting should have at least 8% of its time dedicated to non-meetings activities.

Working from home has accelerated innovative team-building trends. How to make traits like agility, collaboration, and candor a permanent part of our management process.

The future of work arrived out of nowhere, on the back of a once-in-a-century pandemic. Team dynamics got challenged as members dealt with illness, trauma, and crisis. We've all been forced to rapidly and radically adapt to new working norms. The Ferrazzi Greenlight Research Institute has spent more than 15 years studying high-performing teams, but I've never seen entrepreneurs rise to the occasion as they have this year. When the crisis subsides, the temptation will be to turn back that progress and retreat into old behaviors.

Recovery is slow: In fact, more than half (56%) have experienced a slower recovery than expected after shelter-in-place orders began to expire, with nearly half of small business owners fearing they may need to shutter their business within six months if pandemic restrictions are not lifted or if shelter-in-place orders resume in the near-term.
    
Survival requires adaptability: Yet despite fear of survival, owners are demonstrating resiliency and adaptability, with about a third (30%) creating products/services to meet new needs and half (50%) of those with an online presence increasing their digital footprint to meet the moment. And, they’re looking for help in making those changes – nearly 70 percent of female and 60 percent of male small business owners say they need one-to-one small business advice.

They depend on their community: While small businesses continue to be important facets of communities, many small business owners have noted changes in their customers and worry that people will not be able to afford doing business with them. However, half of small business owners believe that there seems to be a renewed interest in shopping locally in their area.

Traditional tax planning is transactional and, honestly, not nearly as beneficial as one might think. You ask your taxes preparer questions and figure out what to do in the spur of the moment. Creating a long-term plan of action for your taxes is how to create real savings, but it takes months to create an effective plan. Now is the time for business owners and investors to be planning to reap the rewards for the rest of 2020 and into 2021.

Analyze income
Many accountants suggest pushing income to a later year. There are a few different factors to consider when deciding whether to do this. First, is your income so low you lose deductions? Many personal deductions don’t carry over to the next year. Rather than taking deductions now, you may want to accelerate your income to make use of all your deductions. Another factor to consider is the next year’s tax rates. There’s a real chance that income tax rates could increase in 2021, so the best plan would be to accelerate your income into 2020 to avoid paying at a higher rate.

While major corporations furloughing workers and declaring bankruptcy tends to get the biggest headlines, our culture's dramatic shift to working from home is the true breakout business story from this pandemic. The transition has certainly had its share of ups and downs, but rapidly growing acceptance indicates this is a trend that is almost certainly going to shape the future of work.

The transition began before 2020
While Covid-19 restrictions caused an abrupt shift, working from home was already accelerating. Research from FlexJobs found that the number of people in the United States who worked from home grew by an astounding 159 percent between 2005 and 2017.

Much of this growth can be attributed to freelancing. Upworks Freelancing in America 2019 survey found that the number of Americans who did freelance work grew from 53 million to 57 million between 2014 and 2019. Younger generations were especially likely to participate, with 40 percent of millennials and 53 percent of Generation Z contributing to the gig economy.

News of the vaccine also raises questions for business owners: Can you require employees to be vaccinated, and if so, how do you go about it?

Employment lawyers and HR professionals say that policies regarding the flu vaccine are a good place to start. Many states mandate that hospital workers and other health care professionals, as well as school children and preschoolers in daycare, get flu shots and other vaccines. But it's not required for most professions. Generally, employers can require a flu vaccination, but an employee may be entitled to an exemption if he or she has a particular disability that needs to be accommodated, or a sincerely-held religious objection to taking the vaccine, says Michael Schmidt, a New York-based employment lawyer for Cozen O'Connor.

In both cases, the employer may have to pay for the vaccine or reasonable accommodation. If you refuse to make accommodations for an anti-vaxxer, it's possible to face a claim for violating the Americans with Disabilities Act (ADA), the Civil Rights Act, or the Occupational Safety and Health Administration's whistleblower protection program. Most of the time, Schmidt says, the advice is for employers to encourage employees to get a flu shot rather than try to create a policy that demands it. However, he notes, many would argue that the Covid-19 situation is far more threatening than the flu is at this point, meaning a vaccine may be more crucial to the overall health of a workplace.

1. Have an adaptable business model
2. Diversify supply chain operations
3. Create an omnichannel customer experience

For small businesses,traditional marketing can be expensive and difficult to maintain. Inbound marketing can level the playing field and give even the smallest business a chance to stand out and grow.

Why use inbound marketing?

1. It is cost effective
2. It helps build customers trust.
3. It increases brand awareness and boosts your online presence.
4. It can improve your marketing decision making
5. You can craft customer-focused content.
6. Inbound marketing provides two-way communication.
7. It helps bring in organic traffic to your website

The Covid-19 pandemic caused an unprecedented financial ripple effect in nearly every industry but hit the small businesses that define America the hardest. Throughout the first six months of the pandemic, more than 60 million Americans filed for unemployment insurance. That’s 23 million more than the 37 million who filed claims during the 18-month Great Recession.

By now, many small-business owners who made the difficult decision to shrink or temporarily pause are rebuilding. As they have already learned, though, rebuilding your business is not as easy as flipping a switch and watching your business rebound to its pre-Covid-19 state. As a small-business owner, your plan to rebuild should focus on rehiring employees who can fulfill your immediate needs while simultaneously paving the groundwork for growth in the new norm.

Finding and keeping the best talent has never been easy. It became the top concern for HR professionals this past year, with more than two-thirds reporting struggles with their recruitment and retention efforts. While the reasons for those struggles run the gamut, they often relate to attracting qualified candidates (49%), retaining star employees (49%) and issues with the talent-culture fit (42%).

For small and midsize businesses (SMBs), any difficulties with finding talented hires end up wasting precious resources. Worse yet, the cost of a bad hire is equal to 30% of the hires first-year salary – without factoring in the potential losses in revenue and time associated with onboarding the wrong person for a job.

A business owner who spent nearly $46 million over the years on Facebook ads said he got booted from the platform without warning.

Jordan Nabigon, the CEO of the Ottawa, Ontario, content-curation site Shared, said Facebook deleted his companys main Facebook page without warning in October, and without providing an explanation. He shared a Medium post detailing his experience, which has received more than 400 claps from readers.

Nabigon spent $45,870,181 on Facebook advertising between 2006 and 2020 for Shared and his other company Freebies, according to expense reports reviewed by Business Insider. Shared employees three people full-time and 12 contract writers, Nabigon said.

Facebook increased its use of artificial intelligence to oversee advertising and other content during the COVID-19 pandemic, and Nabigon is among hundreds of business owners who said they suffered from Facebook's crackdown on ad policies.

The accelerated churn rate of the S&P 500 indicates that at least half of todays top U.S. companies will get replaced by someone new over the next decade. That is a mind-boggling market value of $13.5 trillion up for grabs. And the craziest part is who replaces the old market leaders: It is often companies that, just a few years before, were considered scrappy little startups.

To unseat a champion, a smaller company has to play by a completely different set of rules.

1. Change the basis of competition.
2. Exploit taboos.
3. Optimize for power.
4. Dramatic simplification.

The United States has seen an increase in new businesses formed this year. According to the United State Census Bureau, in week 50, there were over 86,000 new business applications nationwide — representing a 38% increase over filings during the same week in 2019. The challenges small businesses have experienced in 2020 have led to some core lessons that those in the business community need to apply — whether they own an established small business or a newly formed one.

Minimum wage is a complex issue for small businesses, says the Small Business Development Center in Binghamton.

The SBDC adds that, typically, small businesses have a close relationship with their employees and if they could pay them more originally, they would.

They add that they believe some business owners may have to pick up the slack in order to keep costs low.

In a world in which e-commerce has become a necessity for nearly every retailer, it can seem they have only two options: list their goods on marketplaces run by giant companies, or sell to consumers directly, hoping they will make more on each transaction despite fewer sales. In other words, either join a dominant marketplace like eBay , Walmart or Amazon —which by itself represents 38% of U.S. online sales, according to Digital Commerce 360—or hope they can find customers through advertising and word of mouth.

For many small- and medium-size sellers, a third option has emerged, embodied by the rising star of e-commerce, Shopify . This approach gives merchants access to cloud-based third-party services such as payments and fulfillment, but lets them maintain more control of their branding and customer relationships than the biggest marketplaces offer. Shoppers might not even know they’re buying something from a Shopify-powered retailer, and that’s the point.

In addition to making goods available on sellers’ own sites, these software companies—which also include BigCommerce and Magento—can perform the laborious task of listing merchandise on the giants marketplaces. By becoming hubs for managing sales through multiple channels, including social-media platforms, they represent real competition for Amazon and its ilk, potentially giving merchants more leverage when dealing with those entrenched giants.