5 tips for small business success in 2024

Looking towards the future is essential for small business success. But if this next year is anything like the past few, it will be both challenging and unpredictable. So how do you set your business up for success moving forward? Getting insight on emerging trends is the first step. Here’s five tips for your small business in 2024.

Be more accessible

There’s been a big push lately to make both physical and digital spaces more accessible. Various provincial governments already have or will implement standards over the next few years. And for good reason, according to a 2022 survey, eight million Canadians (27%) aged 15 and older have one or more disabilities. It’s clear – making your business more inclusive is not only the right thing to do, but it also gives you access to a wider market.

Of course, it’s not something you can do overnight. However, every step helps. For example, if you have an online clothing store, make sure there are adequate descriptions for the images for those with visual disabilities. Or if you own a restaurant, take the time to train your staff on how to accommodate all people. This includes learning how to assist those with mobility devices, how to interact with service animals, and more.

Promote sustainability

Consumers care about sustainability, so you should too. Buying products and services that aren’t harmful to the environment has become a priority for many people. They also want to buy them from those who are sincere in their efforts to minimize their ecological impact.

How do you incorporate eco-friendly practices into your operations? Here’s one way. Let’s say you own a coffee shop. Implementing LED lighting or improved heating and cooling systems can help you save big in energy costs, and you can even take advantage of government programs to help cover costs.

Add a personalized touch

Consumers have more choice than ever before. So, how do you stand out from the crowd? The key is a great customer experience (CX) that keeps your customers coming back for more. The best way to create a memorable CX is to add a personalized touch, from start to finish.

For example, let’s say you rely on emails as a big part of your marketing efforts. You want to customize your content to match the needs and interests of your audience. Maintaining that human touch and focusing on building relationships will help you create personalized experiences that resonate with your audience and ultimately drive results.

Get focused

Small businesses don’t have the same resources to compete with large franchise chains, big-box retailers, or online stores that sell everything from A to Z. And sometimes it’s easy to get distracted with what your competition is doing. But a great way to catch your customers’ attention is to let them know what you do best.

Lean into what makes your product or service special. For example, if you have a restaurant that serves a specific type of cuisine, you should celebrate your uniqueness. Promote and advertise what makes you special and let your clients know you offer something no one else does.

Secure the right funding

Taking your business to the next level often requires funding. Are you thinking of investing in the sustainability or accessibility of your business, increasing your marketing efforts, or expanding your products or services this year? When you’re ready to access funding, OnDeck Canada can help.

With three types of solutions to choose from, including Business Term Loans, a Business Line of Credit, and Flex Funds Advance, you can get the financing you need to achieve your goals in 2024. Apply online here or reach a dedicated lending advisor at (855) 704-7458.