STARTING A SMALL BUSINESS is no easy task. It takes support from the local community, a solid business plan and most importantly, a stellar product or service.

The innovative minds who are willing to take a chance on themselves and compete with large corporations should be admired. The best way to show your support is to spend your hard-earned money to keep them prosperous.

According to the Better Business Bureau, nearly 95 percent of small business start-ups fail within the first five years. Show your appreciation for the hard work and effort of everyone involved in operating a small business near you.

Once you understand the uphill battles they face with every-day operations, it’s easy to stand behind them and cheer them on.

HEALTHCARE CHANGES

The laws regarding healthcare seem to be a revolving door in the United States. Business owners constantly feel the pressure of keeping up with rising costs and changes in regulations.

To keep employees healthy and happy, it is important for business owners to provide benefits and affordable medical insurance. However, according to a Financial Burdens Survey, more than a quarter of small-business owners claim that healthcare was their primary challenge.

The slim margins afforded to these smaller companies makes keeping up with rising costs and regulatory changes difficult.

ADVERTISING

Many small business advertisers don’t have a lot of room in the budget for fancy advertising. You likely won’t see them featured on a highly coveted Super Bowl commercial spot.

The most effective and affordable way they become a household name is through word of mouth. You can help.

In a study by AYTM Market Research, 50 percent of respondents said that before making a purchase, they check online reviews “always” or “most of the time.”

If the service of a small business impressed you, do them a favor and leave positive online reviews so other consumers can benefit, too.

CUSTOMER FEEDBACK

Of course, the most important piece to the puzzle of success for small businesses is customer satisfaction. As a consumer, you can help guide owners into what you crave by leaving helpful feedback.

Small tweaks to a business can make the difference between flourishing and becoming one of the 95 percent that fail before they have the chance to make an impact.