Starting a business is a complex endeavor that requires attention to detail and dedication, and with proper research and preparation, anyone can survive that difficult first year in operation and create a successful company. After formulating an idea for a new business, consider the following tips, tools, and resources for ensuring success of the fledgling operation.

Social media is the best alternative to the high cost and limited reach of traditional marketing for small businesses. Free from the restraints of ad page space and broadcast time, social media levels the playing field for businesses of all sizes. Now, it’s much easier and more effective for small businesses to tell their stories, promote their brands, connect with new prospects, and deliver great customer service online. When done well, social media drives loyalty, sales, and ultimately, revenue.

There used to be a longstanding belief that 90 percent of new firms fail within the first five years, but statistics tell a different story. A 2012 survey by the Small Business Administration found that 70 percent of new businesses with employees last at least two years, and a little more than half last five years. These success rates are primarily due to savvy entrepreneurs knowing that the online marketplace has given consumers more choices than ever before. The days of applying for an American Express business credit card, renting office space and expecting customers are over. 

There is both good news and bad news when it comes to the level of small business financial literacy possessed by the average Canadian small business owner. The results of a recent small business financial literacy quiz conducted by Intuit Canada show that more than 8 out of 10 respondents failed to achieve a score of “good or basic knowledge” or better. Nearly half of these respondents revealed “well below basic knowledge.” 

Radio advertising is one of the oldest forms of advertising, but that doesn’t mean it still isn’t used.

In fact, in Australia, approximately 80 percent of the population still listen to the radio. Regardless of where your business is located, there are a lot of people to be reached through radio advertising. Of course it shouldn’t be your only form of marketing your business, but it a viable option. 

Today, there are more people running their own businesses than ever. That's why it's becoming more important to master marketing. It is the most impactful area of business, especially for small businesses. To help you master marketing, here are five essential tools that you'll need.

One of the challenges in the world of business is to find a way to make due with the resources that you have. A small office can be inconvenient, but it may be all that you have to work with. Renting a bigger space is not in your budget and you just do not have the time to go looking for a better situation.

If a small office is all you have, then there are still plenty of ways to make it work. Becoming an expert in office space utilization is not nearly as difficult as you may think.

According to the 2013 Email Marketing Industry Census from Econsultancy and Adestra Email Marketing, 55% of companies attribute more than 10% of their total sales to email marketing. Since this channel definitely works, it can be frustrating if you're not getting the type of results you want.

Even if you feel that your email newsletter has been stuck in a rut for awhile, the good news is you can improve its performance. The main thing you need to do is identify what's holding it back.

It’s an unfortunate experience, but employee theft does happen.

And, when it comes to small businesses, just one employee stealing funds or goods on a regular basis could mean the difference between being in the black or the red.

Taking unfounded assumptions out of the equation, what are some red flag warning signs that your employees are stealing from your small business?

Making your restaurant stand out as a leader in the community is vitally important to the success of your restaurant, whether you're in Los Angeles, CA or Charlotte, NC. If you aren't interested in making your restaurant stand out, then you aren't going to be successful in the long run. There are countless number of restaurants in cities, and you can even find several restaurant options in small towns. The restaurant industry is full of competition, and if you want to win then you must stand out. The following tips are just a few ideas for standing out from the competition.