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Bankers Association offers tips for small biz success

Puerto Rico Bankers Association Executive Director Zoimé Álvarez-Rubio.

The Puerto Rico Bankers Association is offering a series of recommendations to the island’s small and mid-sized business community so they can “get off on the right foot” this year.

In the hopes of helping them in their planning to achieve their goals and prosperity this year, the trade group suggested that businesses that have yet to do so, should establish their resolutions for the year. That will keep them on track for the next 12 months. The goals should be put in writing and be very specific, the group said.

Companies should also review their business plan to ensure it is aligned with the current objectives, and should also develop a promotions calendar to market their business across different outlets.

The business should also consider their staffing needs and plan their hiring strategies to include different alternatives, such as part-time employees or freelancers. Investing in technology is also suggested, as well as planning to attend conferences and industry trade shows to network and meet others in their field or potential customers.

Another tip is re-evaluating the company’s brand online to adjust strategies and identify the tools that helped their business grow and eliminate those that did not. Businesses should review their staff’s skills and find ways to keep them motivated.

The Bankers Association also suggests that business owners also remain current and organized to move their companies ahead this year.

“At the Bankers Association we strongly believe in our small and mid-sized businessses, so we want to start this year by offering recommendations to support them and help them develop,” said trade group Executive Vice President Zoimé Álvarez-Rubio.

Author Details
Author Details
Business reporter with 29 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.

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