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According to recently released data by Software Advice and SCORE, small business owners shared that new software that was brought on in 2020 due to the coronavirus pandemic helped increase company productivity by 47% and increased their sales by 45%. The data also revealed 42% of business owners shared that their software helped reduce costs and improve customer engagement by 45%. According to the same data, 45% of business owners also plan to up their investment in technology this year. (Source: Yahoo Finance)

Who to reach out to? One group Rhyu said is “important” to connect with is other founders. "They will be extremely helpful and crucial as you build and oftentimes they will be the only ones who can empathize and understand what you are going through in successes and failures," Rhyu explained — the SBA recommends reaching out to industry leaders through SCORE, too, its volunteer network of mentors for both women and men.

 Small business owners report new software adopted last year in response to COVID-19 increased productivity (47%), improved engagement with customers (45%) and increased sales (45%), according to data gathered by SCORE and Software Advice. Nearly half of small business owners (45%) surveyed expect to increase their 2021 investment in technology.

As a part of our series about strong women leaders, I had the pleasure of interviewing Erica Suppa. She was a cancer research scientist who shifted careers to become an expert skincare specialist and developed Fresh Faced Skin Care; products that are science-based, clean, natural, non-toxic, safe, and organic quality, superseding any others on the market.

SCORE, the nation's largest network of volunteer, expert business mentors, congratulates its Washington D.C. chapter on being named SCORE National Chapter of the Year by the U.S. Small Business Administration.

This Black History Month, SCORE, the nation's largest network of volunteer, expert business mentors, launched SCORE for Black Entrepreneurs. This program addresses the unique needs of Black entrepreneurs and provides our nation's Black-owned small businesses with the resources and support they need to thrive during the COVID-19 pandemic and beyond.

SCORE Celebrates Efforts and Impact of 10,000 Volunteer Mentors

In a research study conducted last month by the SCORE association, 48 percent of business owners said they were not profitable in 2020 (compared to 25 percent the year before); 68 percent had to reduce employee hours/pay or furlough or permanently lay off workers.

Completing your PPP loan application can be a heavy lift, especially for businesses that have a few dozen employees. Lean on your accountant or bookkeeper, if you have one, to pull the reports needed to apply. You can also contact your local Small Business Development Center or SCORE, a nonprofit that coaches business owners.

Cash is the lifeblood of a business. According to Hal Shelton, angel investor, SCORE mentor, and author of the best-selling The Secrets to Writing a Successful Business Plan, one of the primary reasons companies go out of business is “cash flow mismanagement.”

SCORE, a nonprofit organization that calls itself "the nation's largest network of volunteer business experts," is one of the best resources for small businesses, with more than 10,000 volunteers and 300 chapters to help business owners with counseling, business tools, and training.

For some, starting a business later in life is a matter of financial necessity. According to a 2018 survey published by SCORE, a mentor network for small businesses, women 65 and older are more likely to do so because they’ve lost a job or need more income. More than 28% of those surveyed said they became entrepreneurs because they had to.