Continuing education and earning a business degree may be more important than ever, with many small business owners becoming more optimistic about the economy.
A recent study conducted by Staples found that roughly 70 percent of small business owners have a positive view and believe their business will see growth, while 52 percent said they would increase their marketing budget if they had more capital.
"Successfully marketing your small business is the life blood of any company, but with limited budgets, entrepreneurs must be creative and resourceful," said Rieva Lesonsky, CEO and president, Grow Biz Media/SmallBizDaily.com.
The 52 percent of small business owners who said they would upgrade their marketing initiatives said they would use the increased funding on direct marketing and advertising.
Because of the need for more capital within many small businesses, Staples started its own "Give Your Small Business the Push It Needs" contest, which all small businesses can enter by creating and sending a 15-second video on Facebook.com/Staples.
"Staples wanted to do something unique to support small businesses in their local markets," said John Giusti, vice president of small business marketing at Staples. "The 'Give Your Small Business the Push It Needs' contest will help small businesses achieve their business goals in 2012 by providing an advertising boost to help their bottom lines."
Staples will choose five winners and give them 15 seconds of advertising in a 30-second Staples television ad to run in their local market, valued at $50,000. Winners will also have the option of receiving a $40,000 advertising budget and $10,000 in cash.
While Staples is working to give small businesses a way to improve their direct marketing and advertising initiatives, a recent report prepared by BtoB Magazine found 74 percent of marketers will increase their online marketing budgets, with more than 40 percent increasing their marketing spending this year.
Many businesses will be looking to bring in someone with a marketing degree to help manage their marketing budgets, as well as assist in new marketing initiatives.
Online marketing will see the highest increase in spending, but nearly 37 percent of marketers will increase their direct mail spending, while approximately 20 percent will boost their print advertising, according to the report.