Engage Small Business Owners in America

American small businesses drive the economy, and their owners reflect the diverse cultures and perspectives of Americans. Read on for more information about how to connect with small business owners by understanding how they see themselves, their goals, challenges, and motivations for partnering with larger companies.

Reading Time: 3 minutes

July 5, 2023
Lauren Goldberg– Analyst

Nearly all private businesses in the U.S. are small businesses. At the helm of all that economic heft is an owner who tends to be highly engaged in the day-to-day decisions of the business. As a result, small business owners make up an important segment with whom marketers and larger businesses should engage and build partnerships.

Read on and fill out the form for an excerpt from our
Engage Small Business Owners in America presentation.

Engage Small Business Owners in America - Slide Deck Example
The Big Picture
    1. Small Businesses run on optimism, innovation, and community. From their founding, Small Businesses are rooted in independence, innovation, and community. Multicultural Small Business Owners are feeling optimistic about the present and future of their businesses.
    2. Owners value personalized partnerships with large companies. Small Business Owners have plenty of goals but are also facing a multitude of challenges. Every small business is different and given their limited resources, they look for one-on-one support to streamline problem-solving and operations.
Key Insight #1: Motivations

Know This:

Most Small Business Owners founded their own businesses. They are personally invested and motivated by the creativity, flexibility, and community that ownership offers them.

The majority of small business owners founded their business

Do This:

    • Communicate how your brand can help owners achieve greater work-life balance. Make your products and services available and accessible so owners can easily manage their business on-the-go.
    • Mirror the values that Small Business Owners hold dear by positioning your brand as one that fosters innovation and community.

Key Insight #2: State of Small Businesses in 2023

Know This:

Despite recent hardships, Small Business Owners remain optimistic about the future success of their businesses. Their top goal is growth, but that doesn’t come without challenges. Inflation is the biggest obstacle right now for over half of owners.

Inflation is a challenge for half of small business owners

Do This:

    • Recognize the hardships that small businesses have weathered lately and celebrate their tenacity and work ethic. Bolster and share in their positivity and hopefulness for the future.
    • Highlight how your brand will foster small businesses’ growth. Offer support in the areas where they may be cutting spending so they stay on track to meet their lofty goals.

Key Insight #3: Support and Partnership

Know This:

Small businesses most need support with marketing, networking, and financing.  Owners look to partner with innovative companies that are experienced in working with small businesses. They prefer online and one-off one-to-one support as needed.

One third of small business owners need help with marketing

Do This:

    • Keep in mind their limited discretionary funds and limited time. Offering free, quick access, and convenient support will go a long way in maintaining partnerships long-term.
    • Approach owners with an understanding of their individual wants and needs. Personalize your offerings as much as possible.

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Lauren Goldberg

Lauren Goldberg

Lauren is an Analyst on Collage Group’s Cultural Insights team. She recently graduated from University of Michigan, where she studied psychology and entrepreneurship. In her spare time, Lauren enjoys trying new restaurants in the DC metro area and keeping up with the Washington Capitals.

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