America, land of the free and home of the brave. For years this is the phrase that has drawn people from all over the world to theUnited States. A land of free enterprise, allowing merchants to start their own business and sell any product and service within legal boundaries. Small businesses make up approximately 44% of the United States economy. They are the backbone of small towns. But in today’s world, with all the uncertainties, the small businesses are experiencing hardships that have never been seen. Between pandemic outbreaks and political unrest and violence in the streets, the existence of small business is threatened. As Americans, we must do what we canto support this important piece of our economy and ultimately protect our Bill of Rights as well as our national freedom.
Small Businesses - Creating Jobs and Innovation
Small businesses provide goods and services in multiple sectors and are a large part of the commercial stability in our nation. They service and supply the millions of small towns across the country and are at the heart of their communities. Besides the fact that small businesses account for a large portion of economic activity, an even more important concept is that they drive innovation. Many of the small business founders like Henry Ford and Thomas Edison have made their mark on the world. Others have changed the way we do business and have contributed to our standard of living. In addition, small businesses generate most of the jobs in the United States. According to the US Small Business Administration, they account for roughly 95% of all US companies, providing employment for roughly half of the US employees.
Unprecedented Challenges Facing Small Business
Most business sectors across the nation have been faced this year with challenges of economic hardships that have resulted in shutting their doors for extended periods as the world was faced with the Coronavirus pandemic. Many retail stores had to adjust their hours or close completely, resulting in the reduction of employees. They had to become creative and introduce alternate methods of shopping such as online purchasing or home delivery. Food and service industries have resorted to curbside pickup and minimum allowance of patrons in their establishments. These events happened within a few short months and the changes required to do business were monumental. The result is the need for these businesses to manage and reduce their costs. They need creative solutions to help manage their cash flow more efficiently and utilize technology that equips them with features to continue to track and grow their business.
From Sea to Shining Sea
It’s time for Americans to join together and realize the atrocities currently facing our nation. Small businesses are the lifeline of our economy. For the sake of our economy and American spirit, we must support them. Ensuring that small businesses can cover their costs and manage their operations efficiently is essential. Using analytics to manage change and predict successful outcomes is key to survival. In today’s world, it is important to align with merchant providers who listen to the needs. Small businesses rely on their customers and this requires excellent service at a fair price.
MPG was created to support the small business. MPG’s software offers viable solutions to help manage their business including tracking of inventory and forecasting the trends. Understanding and managing costs and providing best practices are at the forefront of MPG’s solutions. MPG offers near cost processing fees that result in better profits as well as good customer relationships.
MPG is the voice of the merchant. Contact us today.