Robinhood stock trading app valued at $1.3 billion with big raise from DST

 Zero-fee stock trading app Robinhood has added to its coffers, raising another big round of funding. According to sources, the round was led by Yuri Milner investment vehicle DST Global and values the company at $1.3 billion dollars. Read More

On-demand dog walking startup Wag quietly raised funding from General Catalyst and Sherpa Ventures

 Earlier this week we wrote about how two big players in the pet-care business, Rover and DogVacay, decided to merge. Well, sources tell us that over the past two years Wag, another player in the dog-walking space, raised two rounds of funding to support expansion into new markets. Read More

4 Unusual but Proven Ways to Market Your Business

Marketing is all about getting attention from customers. Here are some usual, but proven ways in which businesses can attract customers and improve sales.

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Tax reform may be coming early for small businesses

(This post originally appeared on The Washington Post)

As the focus in Washington shifts to tax reform, many in Congress are preparing for a long battle pitting those who support lower taxes for growth against those that will insist on cutting spending to help offset decreased potential tax revenues.  The debate is likely to continue for the foreseeable future. But a Democrat and a Republican want to see small businesses get some tax reform sooner rather than later.

The Hill reports that Senators Bill Nelson, a Democrat from Florida, and Republican Susan Collins (Maine) are pushing through tax reform legislation aimed at small businesses and first introduced in the House by Rep. Vern Buchanan (R-Fla.). The legislation, called the Main Street Fairness Act, aims to ensure that small business owners like me don’t pay more taxes than big corporations.

The current corporate tax rate is 35 percent. However, most small businesses – like my own – file S Corporation tax returns. On an S Corporation return, my company’s profits flow through to my personal income tax return where it’s combined with my and my wife’s other income and then taxed at individual rates.  Those rates are as high as 39.6 percent. The Main Street Fairness Act would limit my top tax rate on my company’s earnings to the 35 percent corporate rate.

That’s a big thing, because any savings to my bottom line either gets re-invested in my business (translation: jobs), saved or distributed to me and then spent on consumer items. All of this is good for the economy.

“Small businesses are the cornerstone of our local economies, and this bill is just one way we can help them succeed,” Nelson said in a news release.

If tax reform does manage to happen in 2017 it could mean a corporate rate as low as 15 or 20 percent, and with this legislation the tax savings for many small business owners would be substantial. But we know in Washington that’s easier said than done. Even if there’s a delay in comprehensive tax reform, let’s hope Congress at least finds a way to get this legislation to the president’s desk for signing. It could be a great early start to something much, much bigger.

Key Attributes Business Graduate Bring to Small Businesses

Over the past few decades, business graduates have been taking the world of small business by storm. There are more companies that are willing to hire professionals who have an online MBA degree and...

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Customers May Love McDonald’s Fresh Beef; Franchisees – Not So Much

McDonald’s (NYSE:MCD) will soon use all fresh beef at the majority of their restaurants. That’s great news for consumers — but maybe not quite so much for franchisees.

The company just announced plans to roll out the use of fresh beef with no fillers, additives or preservatives, instead of the frozen beef it had been using before. The changes should take place by mid-2018.

For franchisees, the change isn’t necessarily all positive though. Using fresh beef instead of frozen could potentially lead to some food safety issues and more food waste due to slow periods or even contamination.

According to a 2016 survey by Nomura, reported by Business Insider, franchisees shared their concerns about using fresh beef.

One franchisee worried, “I have major concerns over food safety and our lack of ability to serve a large number of customers quickly.”

“If we do not handle the meat perfectly, there is the opportunity for bacterial invasion of our product,” said another.

The Challenge of Making Business Changes

But it’s also important for businesses to consider what consumers want. And sometimes, that means being at odds with your team over some of the details. What’s important, for any business faced with tough decisions, is to keep the lines of communication open and consider all sides carefully when making changes or updating processes.

McDonald’s Photo via Shutterstock

This article, "Customers May Love McDonald’s Fresh Beef; Franchisees – Not So Much" was first published on Small Business Trends

eBay Announces Expedited Delivery, QuickBooks Releases New Inventory Feature

For online shoppers, the ability to get their orders quickly can be a big factor in their buying decisions. Companies like Amazon have managed to set themselves apart with 2-day shipping. Now, eBay is looking to carve out its own niche with a new guaranteed expedited delivery option.

In addition, QuickBooks introduced a new tool that could help businesses better manage inventory. You can learn about these updates and more below in Small Business Trends’ weekly news and information roundup.

Sales

eBay Set to Launch 3-Day Guaranteed Delivery Program

Your customers want what you’re selling right away. And eBay (NASDAQ:EBAY) is the latest ecommerce site to offer its shoppers an expedited delivery option. The site recently announced that it’s rolling out the Guaranteed Delivery Program this summer. The goal is to offer millions of products that will be delivered to buyers in 3 days or less.

QuickBooks Introduces New Reorder Points that Tell When Inventory is Running Low

QuickBooks (NASDAQ: INTU) recently introduced a new inventory “Reorder Point” feature that lets businesses set a minimum quantity of a product for sale to keep on hand. If you are a small business that handles inventory, the new QuickBooks Reorder Points feature is designed to help you know when your inventory is running low and remind you to reorder items.

Economy

After Failure to Repeal Obamacare, Pence and McMahon Reassure Small Businesses

After failure by the U.S. House of Representatives to pass a bill that could repeal and replace the Affordable Care Act Friday, Vice President Mike Pence and SBA Administrator Linda McMahon made a stop in West Virginia to reassure small business owners and listen to their concerns.

Small Business Owners and Buyers Ready for Trump Tax Reforms

Healthcare reform is an important issue for small business. That seems unlikely right now, but just as important, according to recent data from BizBuySell, is tax reform. In a recent poll of 700 small business owners and prospective buyers, healthcare and tax reform were the top two issues mentioned for President Donald Trump to address.

Employment

Hiring Rules Set Back Small Businesses $11,700 Annually, Report Finds

America’s small business community has long lamented the heavy burden of government regulations on their operations. One specific area government regulations come down hard on small businesses is in the hiring of new employees.

Franchise

Good News for Franchises? Joint Employment Regs Appear Doomed

Labor Secretary designee Alexander Acosta’s views on a controversial Obama-era joint employer regulation that business leaders have accused of stunting job creation came to light during his confirmation hearing recently.

Small Biz Spotlight

Spotlight: Rush Bowls Puts a New Twist on Healthy Eating

Consumers are becoming increasingly interested in healthy and natural food options. And that interest in health food has opened up new opportunities for businesses like the Rush Bowls franchise. Rush Bowls offers unique menu items that consist of blended fruit and other healthy ingredients.

Small Business Operations

Business Travelers Beware, No Using Laptops on Flights from These 10 Airports

International business air travelers will be forced to comply with yet another travel ban that now prohibits the use of laptops and tablets on commercial flights to the United States.

Nearly 9 Percent of Small Businesses Suffered a Burglary or Theft Last Year

If you haven’t taken adequate steps to protect your business from burglary or theft, now is the right time to rethink your strategy. According to new data by Chicago-based insurance agency Insureon, 8.8 percent of small businesses suffered a burglary of theft in 2016.

Social Media

Pinterest Propel Introduces Special Services for Small Businesses

Pinterest wants to recruit small business advertisers. The social media platform and visual search engine just launched Pinterest Propel, a program that provides special services to new advertisers that don’t quite understand how the site works. It includes free one-on-one support for 30 days to advertisers that meet its criteria.

United Airlines Leggings Controversy Shows Need to Change with the Times

If you haven’t changed any of your company’s policies in a while, it might be time to revisit them. United Airlines (NYSE:UAL) just learned this lesson the hard way. The airline denied entry on a flight to two girls wearing leggings who were flying using its employee friends and family pass program.

Millennials and College Students Prefer Snapchat to Facebook, Survey Says

According to a survey carried out by online marketplace for student loan refinancing LendEDU, 58 percent of college students are checking Snapchat (NYSE:SNAP) before Instagram, LinkedIn and Facebook combined.

Facebook Now Allows Live Video Broadcasts from Your Laptop or Desktop

Facebook (NASDAQ:FB) is taking live streaming to another level as it recently announced that users can now, in addition to smartphones and mobile devices, broadcast live video directly from their laptop or desktop computers.

Color Us Surprised! Crayola Finds New Way to Create Buzz

If you think there’s not a whole lot a beloved old brand that’s been around for decades can do to create buzz online, Crayola just proved you wrong. The company recently announced that it will retire one of its iconic crayon colors, creating a storm of tweets and other social media posts from customers sharing thoughts on what color might be getting the boot.

Technology Trends

Animaker Introduces First Animated Vertical Video Platform

While you may have been accustomed to watching videos horizontally thanks to the TV and movies, the next video marketing wave is vertical videos. Vertical videos were historically shunned by creative agencies, marketers and video creators because they did not fit the aspect ratio of established moving image forms.

It May Be a Good Idea to Change Your iCloud Password Right Now

For the many small business owners that are using iCloud, the newest hacker threat to Apple (NASDAQ:AAPL) is a serious issue. The Turkish Crime Family, a syndicate of hackers, is demanding a ransom from Apple, according to reports. The ransom would supposedly buy the safety of thousands of iCloud and Apple email accounts to which hackers have already gained access.

eBay Photo via Shutterstock

This article, "eBay Announces Expedited Delivery, QuickBooks Releases New Inventory Feature" was first published on Small Business Trends

Stealthy gaming company Wonder is ready to tease its new mystery hardware

 Wonder, the incredibly stealthy new gaming company, has quietly created a signup page for information and perks related to its plans for global domination of the gaming market from its Los Angeles headquarters. The company is calling its new campaign the “Alpha Program”, and folks that are interested can get updates on Wonder’s product, provide feedback, and get perks and… Read More

You Might Already Have This Cool New Office 365 Feature and Not Even Know It

(This post originally appeared on the Huffington Post)

“Didn’t we have that same product issue a few months ago?”

“I know you and I had that conversation a while back. Don’t you remember?”

“Why are we paying for Office and hardly using it?”

You’ve asked these questions. Now, you’ll have some answers. Microsoft recently launched a new product called Microsoft Teams and, if you’re already one of its 85 million Office 365 customers, you don’t have to pay anything more for it.

This is not just an Office 365 app. It’s a messaging and collaboration app that brings together many of your existing Office 365 services under one umbrella. It’s the app that, if used the right way by your employees (and external guests in the future), will result in you taking advantage of all those Office 365 apps that you’ve ignored over the years. My ten-person company will deploy it internally this year. More importantly, we’re going to push our clients to use it, too. Not just because it’s a revenue opportunity for us, a Microsoft Partner. But because it’s finally a way for my clients to actually use more than the ten percent of Office 365 that they’re currently using.

So, what’s so killer about it?

Microsoft Teams will be your company’s internal portal for projects, ideas and initiatives. You will create a folder (called “channels”) when there’s a new product inspiration, a problem with a customer, an opportunity with a prospect, a building improvement project, a huge job that you just landed, a new employee that you’re considering. You will invite people to collaborate. The folder will house all chats, meetings, tasks, messages, emails, notes, documents, spreadsheets, videos, calls and links to other information. A quick keyword search will bring up anything you need to know about that, or any other project/idea/initiative even years later. Your team members will get alerts, participate in conversations and enter data from their devices — desktop, laptop or mobile.

There are more than 150 human resources, project management and other business applications that already integrate with Teams as well as its other Office 365 apps (Word, Excel, PowerPoint, OneNote, Skype, etc.). In the future, look for the application to be a significant part of Microsoft’s rollout of artificial intelligence and bot technologies that will increase automation and enable businesses to use workflows to perform tasks and communicate with others behind the scenes and without human intervention.

The big upsides: you will eliminate other applications. You will consolidate your communications, collaboration and internal project management onto one platform. Most importantly, you will finally be using…actually using…all of those Office applications that you’ve been paying for all these years but have been lying dormant. Oh, and it’s free (if you’re an Office 365 customer).

But there is a hitch: you’re going to need some help. Most of my clients are too busy, or don’t have the internal resources to get a powerful application like this set up and used properly with the right processes without things turning into a mess. You’ll need to invest in some training and consulting with a Microsoft Partner if you’re going to do it right. Yes, it’s a revenue opportunity for my firm and other Microsoft Partners like me. But it’s a bona fide productivity tool that all of our clients should be using.

If you’re an Office 365 customer with Business Essentials, Business Premium, or Enterprise E1, E3, and E5, then you’re ready to start using Microsoft Teams. A stand-alone version will not be available.

Be forewarned: this is a first-release Microsoft product, so we all know what that means. But the company plans big changes and many more features in the months and years to come. I’m sure many of my clients who already love collaboration apps like Slack and HipChat will not be anxious to move away from them. But if they’re already using — or more likely under-using — Office 365, then Microsoft is going to make a very compelling argument to do just that in the future.

How to Keep Your Business on the Right Side of the Law

No matter what size business you run it is important to stay on he right side of the law. Failure to do so can have disastrous consequences. Here are the tips.

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5 Tips to Choose a Customer Loyalty Program for Small Businesses

Have you ever thought of deploying a customer loyalty program to drive more repeat business?  And what about offering gift cards for your customers to purchase?

Customers love these kinds of programs.  What’s more, done right they achieve real financial benefits.  For example, a University of Chicago study found that loyalty programs increase purchases by 20%.

A few months ago, our Small Business Trends team made a visit to the Innovation Lab at First Data headquarters in Atlanta. Our interviewer, Brent Leary, sat down with Jim Allen, First Data’s Senior Vice President Product Delivery, small business products.

The video above is a portion of our exclusive interview. (See part 1 of the interview here.)

First Data is known, of course, for its line of Clover point of sale (POS) systems.  But as Jim Allen points out in the interview, Clover is actually a platform with associated mobile apps and it is much more than a POS. Its offerings include a loyalty program for small merchants, as well as a gift card program.

Tips for How to Choose a Loyalty Program

Based on the interview and other ideas, we’ve come up with five tips for what to look for when you choose a customer loyalty program. Some of the tips apply as well to choosing a gift card program.  Look for these attributes when choosing a loyalty program and/or a gift card program:

1. Easy to Use

Time is money. So if a loyalty program takes a lot of manual time to set up and maintain, it’ll either eat up all your profits or soon be abandoned or replaced.

Look for programs that are out-of-the-box simple to get started with. Does the vendor provide materials to help display and market your programs in store or digitally, or or is that something extra you have to create?

Also, look for technology that automates and saves you time. For example, does the loyalty program integrate with your point of sale system, or will you have to hire a consultant to integrate specially?

And what if customers want to manage a gift balance or have questions — does the program have technology to help?

2. Customizable for YOUR Business

Consider what kind of loyalty program you want to offer:

• Are you most comfortable with a punch card program, where customers earn for each cup of coffee, dry cleaning order or other purchase they make?  This type of loyalty program is simple, but doesn’t have a marketing feedback loop. So you can’t use it to collect data to shape your future marketing, like you can with a tech-oriented solution.
• Or perhaps your customers would prefer a loyalty program that accrues points.  If your customers are tech savvy, they may appreciate a points system with a mobile app.

Similarly with a gift card program, consider how your customers may want to purchase and send them.  Plastic gift cards are well known. But more and more customers want the ability to purchase digital cards online or on a mobile device, and send them electronically to recipients.

3. Marketing Feedback Loop

Today’s best breed of loyalty programs and gift card programs give you something in return.  Look for a program that is technology based, so it can help pull out “big data” to inform you how to market better.

Also check to see how hard or easy it is to analyze and use that data.  Look for programs with built-in analytics to easily discover buying habits you may not have noticed. That way you can identify special perks and when to offer them to your most loyal customers, to encourage cross-sale opportunities or accelerate repeat sales.

4. Best Practice Ideas

One of the biggest challenges in a small business is that we often don’t have a marketing department.  A good vendor can help make up for that lack.

Look for a solution that helps you learn as well as do.  Does the vendor’s solution automatically guide you to develop best practices? Does it trigger ideas for how to make the most of a loyalty program, such as how and when to stay in touch with customers?

And when it comes to gift cards, you want materials to entice customers to buy them, such as in store signage.

5. Modest Cost to Implement

Last but certainly not least, look at the cost.

Look for programs oriented toward small business merchants.  An offering suitable for Walmart won’t necessarily be right for your business — and could be too expensive. See if the vendor’s website has a section called “small business solutions” or uses the words “small business” frequently.

This article, "5 Tips to Choose a Customer Loyalty Program for Small Businesses" was first published on Small Business Trends

How Has Obamacare Affected Your Small Business? (POLL)

It looks like, intentions aside, small businesses will be stuck with Obamacare for a while yet.

After failure to get enough votes in the U.S. House to repeal and replace the legislation, the Trump administration worked to reassure business leaders last week.

But for now, Obamacare stays. So what we’d like to ask the small business community is this …

How Has Obamacare Affected Your Small Business To Date?

To be sure there have been winners and losers, and different sized companies have probably felt the impact to varying degrees. So if you had to give your personal story and that of your business, what would you say?

You could say it has affected your small business:

Very positively: I have been able to provide benefits for myself and my employees that I was not able to provide before.

Somewhat positively: I have been able to save somewhat on benefits for myself and my employees compared to before Obamacare.

Not Much: My business hasn’t been affected at all since I already had a package in place that has remained unchanged or the number of employees in my business falls below the number requiring mandatory coverage.

Somewhat negatively: I either had insurance coverage in place for my employees and am now paying more, have been forced to supply insurance that is now cutting into my profits or am paying penalties for not providing.

Very negatively: The cost of the insurance mandate has severely cut into my business revenue to the point that I am now looking at closing my doors.

Note: There is a poll embedded within this post, please visit the site to participate in this post's poll.

Obama Photo via Shutterstock

This article, "How Has Obamacare Affected Your Small Business? (POLL)" was first published on Small Business Trends

What Are Second Screen Stats and What Do They Mean to Your Business?

More than 70 percent of adults surf the web on their phones while they watch TV.

They’re looking at sites they see in commercials. And they’re definitely reading and commenting on social media. You can assume they’re also doing other things like looking up actors’ previous roles, sports stats, etc.

This happens so often a term has evolved to describe the people who exhibit this behavior: second screen audiences.

Second Screen Stats

New data from eMarketer indicates that this phenomenon is growing rapidly. Exactly 74.1 percent of adults this year will surf the web on their phone while they watch TV. Data suggests this figure will increase to 79 percent next year.  Just three years ago, just over half of all adults would go on the web on their phones while they watched television.

This increase in second screen use is not limited to smartphones, either. The eMarketer data shows that desktop and laptop use by adults watching TV at the same time continues to go up. The same can be said for tablet use.

What Are People Searching For While Watching TV?

A long time ago there was a push to connect the web and TV directly. Now, however, thanks to the emergence of second screen audiences, they are. Though that connection is more indirect than what might have been originally envisioned.

More people are searching for and talking about the things they see on TV than ever before.

The eMarketer data shows that 31 percent of second screen audiences are browsing the web for content related to what they’re watching. Only back in 2014, that number was just 23 percent.

Nineteen percent of people are using their second screen to have social conversations related to what they’re watching. That’s up 2 percent from 2014.

For brands and companies that take advantage of this phenomenon, it’s really a form of social media newsjacking. That’s where businesses get involved in conversations revolving around current events.

What Your Small Business Can Do to Reach Second Screen Audiences

Twitter’s content manager Marissa Window writes on the Business for Twitter blog that people conversing about their TV viewing like to see brands interact.

She writes:

“Fans on Twitter like seeing brands join the conversation with relevant content or deals, and the same can be said about ads — 42 percent more time is spent looking at Twitter Ads relevant to surrounding content.”

So, align your social media strategy to talk to this crowd. Think about the shows and events on TV that tend to get people talking.

In entertainment, you know the Twitter and Facebook feeds light up when it’s Oscars night. And in sports, big games like the Super Bowl, March Madness and other championships bring out sports fans and their opinions.

One area where you might want to shy away from is politics, however. There, you risk alienating half your audience with just one post.

Think about the audience that’s most attracted to your business and brand. Find their social media conversations and join in. Reality shows are great examples. They’re often business-based and have loyal followers who like to chat online while they’re watching.

For example, a small restaurant might want to join in the conversation on #TopChef while a boutique clothing store would seek to talk to audiences tweeting about #ProjectRunway.

Guys on Phones Photo via Shutterstock

This article, "What Are Second Screen Stats and What Do They Mean to Your Business?" was first published on Small Business Trends

3 Trends That Will Help You Boost Mobile User Experience

Successful online marketers are always on their toes. They constantly adapt to new trends and technology to have an edge over their competition.

Do you think you have what it takes to join their ranks? Then you should always think and act fast.

For example, remember when Google announced that more searches now occur on mobile devices than on computers? That was two years ago. And yet, a lot of website owners and bloggers still don’t have a mobile marketing strategy in place.

By now, it’s clear that mobile is the future of digital marketing. With technologies like VR and live video streaming, users are growing more concerned over mobile experience. In fact, 57 percent of them will refuse to recommend a business if it has a subpar mobile site.

Boosting Your Site’s Mobile User Experience

Don’t worry — you can still catch up by taking advantage of the latest trends in the mobile space. You can start with the following:

Creating Mobile-Friendly Emails

Email marketing has been one of the cornerstones of digital marketing ever since the beginning. This time, evidence suggests that you should start optimizing emails for mobile users.

According to statistics, people now read emails longer on smartphones. It’s also predicted that, by 2018, 80 percent of users will use email services exclusively through a mobile device.

For starters, implementing a responsive email design is a great way to boost the mobile experience of your subscribers. Considering that platforms like Pagemodo, iContact or MailChimp already offer a number of responsive templates for emails. Then it should be easy to check this off your list.

Just remember to optimize every single detail for mobile screens. Buttons, for example, must be large and easy to tap. The content must also be presented in a long-scrolling format, which allows mobile users to simply swipe up to read the entire email.

Below are some additional tips on how to create mobile-friendly emails:

• Compress images to reduce loading time. Remember that some mobile users still use 3G or slower connections, so try to avoid using high-resolution images.
• Make fonts larger. To compensate for the smaller display of mobile devices, try to set your font size to 13 or 14 pixels.
• Make sure CTAs are text-based. If you use an image as your CTA (Call to Action), there’s a chance that users won’t even see it.
• Shorten your subject lines. To ensure good readability, avoid using long subject lines that needlessly take a lot of space.

Engaging Mobile Users via Video

Video content is long considered as the most effective in terms of engagement. Users love videos so much that email subject lines with the word “video” get 65 percent more click-throughs.

Incidentally, 51 percent of all video plays happen on mobile devices. So if you want to improve your site’s mobile experience, you need to diversify your content strategy and start thinking about video content.

Apart from using tools like Animatron to create professional-looking explainer videos, you should also consider launching live streams with platforms like Facebook Live, and Periscope.

Not only are live videos easier to make, they are also great for winning more views on social media. Studies show that users spend triple the time watching live videos compared to regular videos.

Here are some ideas for your first live video:

• Interview a social media influencer
• Have a live Q&A or webinar session and interact with your audience via comments
• Invite your social media followers to a corporate event
• Show a random video of your neighbor’s pet (social media users love animals)

Turn Your Site into a Progressive Web App

Lastly, another trend you should watch out for is the emergence of progressive web apps or PWAs. These are websites that can deliver app-like experiences to mobile users. They are fast, have offline capabilities, and are specifically optimized for touch-based interactions.

Some of the common features of PWAs include:

• Push notifications,
• Home screen shortcut,
• Quick load times even through 3G connections,
• 100 percent mobile responsive.

Since Google is all about user experience, they cover several case studies on brands that utilize PWAs.

Unfortunately, developing a PWA is not a DIY project you can do overnight. It is a significant investment that can prepare your brand for the future of mobile marketing.

To help point you in the right direction, Here is an infographic by Zeolearn that explains how PWAs work:

Ultimately, it all boils down to user experience and how your brand can make a lasting impact in your audience’s lives. The strategies highlighted above helped you plan your mobile marketing campaign this 2017. What you need now is diligence, patience and relentlessness when it comes to executing these strategies.

Phone User Photo via Shutterstock

This article, "3 Trends That Will Help You Boost Mobile User Experience" was first published on Small Business Trends

Nearly 9 Percent of Small Businesses Suffered a Burglary or Theft Last Year

If you haven’t taken adequate steps to protect your business from burglary or theft, now is the right time to rethink your strategy. According to new data by Chicago-based insurance agency Insureon, 8.8 percent of small businesses suffered a burglary of theft in 2016.

The survey further reveals a business owner might have to pay approximately $8,000 out of pocket for a burglary or theft incident. That’s a significant price to pay for any small business.

Businesses Reluctant to File for Insurance Claims

Other than burglary or theft, many small businesses also experienced client complaints or contract disputes (22.2 percent) and employee injury (10.6 percent), all incidents potentially resulting in costs that might have been covered by insurance.

It’s worth noting that 35.2 percent of businesses were hit by an incident that insurance might have covered. Surprisingly however, many small business owners like Dylan Gallagher, owner of tour company Orange Sky Adventures, aren’t filing claims.

“We had our van broken into by a robber the other day and I had two choices: pay the $300 bill myself or go through my insurance company,” says Gallagher. “I chose to pay the bill myself to avoid bureaucracy. Besides, I’d rather keep my insurance premiums low and just get on with business.”

Tip to Prevent Thefts

For businesses, it pays to boost security to prevent thefts or burglaries. Luckily, there are several budget-friendly options to choose from.

Take the dropcam for example. Considered one of the easiest entry-level solutions, dropcams are do-it-yourself devices that address small business needs.

Another tip is to train employees to keep an eye on customers.

For the study, Insureon surveyed 1,002 small business owners online.

Security Camera Photo via Shutterstock

This article, "Nearly 9 Percent of Small Businesses Suffered a Burglary or Theft Last Year" was first published on Small Business Trends