Wednesday, March 29, 2023

How Much Should I Budget for Marketing?

Rafael, how much should I budget for marketing?  

This is a question that I get frequently and one that the answer may vary due to several factors, including the size of the company, its revenue, industry, target audience, and marketing goals. Small businesses should allocate 7-8% of their total revenue toward marketing. This percentage is based on industry research and best practices and is often cited as a benchmark for small businesses to use when determining their marketing budget.

This percentage is seen as a good starting point for small businesses, as it provides a manageable marketing budget while also ensuring adequate resources are allocated toward building brand recognition and driving growth. However, it is essential to remember that the actual percentage may vary based on the specific needs and circumstances of the business and that businesses should adjust their marketing budget as needed to achieve their desired results.

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Crummer Venture Plan Competition

Now Hiring

Kismet Technologies is hiring for an Industrial Engineering and Microbiologist Intern.

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Volusia County Business Incubator Launches WoW Fridays

Upcoming Events



Success Stories: Inspiring Black Women In Tech & Their Journeys To The Top

BOT is celebrating Women's History Month through highlighting a panel of inspiring Black women in Technology and their journey to the top.



Navigating the Startup Journey: Overcoming Founder Challenges

Join Startup Weekend Orlando and Black Orlando Tech for a thought-provoking pre-cursor event titled "Navigating the Startup Journey: Overcoming Founder Challenges." This event is designed to offer insights and guidance to startup founders facing common challenges in their journey towards building a successful business.



2023 Women Who Mean Business Awards Celebration

Join Orlando Business Journal for the annual Women Who Mean Business awards celebration to honor Central Florida's 2023 women of distinction.



Central Florida Immersive Technology Summit

Join Orlando Business Journal for the annual Women Who Mean Business awards celebration to honor Central Florida's 2023 women of distinction.



AWS Startup Day Miami

Calling all cloud-native startups! AWS Startup Day Miami is a conference with education for cloud-native startups like yours. The topics are presented through multiple tracks and will be most helpful to specific roles, within companies that are early stage (post-MVP) through mid/growth stage.



One Million Cups

1MC takes place every Wednesday morning at our Orlando Incubator.

Sign up to talk about your business and share your accomplishments with the community!



Business Ethics 2023

On the first Wednesday of every month, we will explore how Stoicism can help in setting business goals and managing growth. This course is designed for business CEOs, managers, and entrepreneurs in Central Florida. The goal is to focus on stoic leadership.



Government Contracting: Overview

The “Government Contracting Overview” seminar, presented by the APEX Accelerators at UCF in partnership with the Florida SBDC at UCF, is designed for established small business owners with some commercial momentum that are curious about government contracting, as well as business owners that may already be involved in government contracting.



How to Start Your Business

If you’re thinking of starting a business, it’s important to take the right steps. This three-hour in-person seminar will give you an overview of what to know, actions to take, and how to avoid common missteps to give your company its greatest chance of success. Learn about the journey from pre-venture to start-up to opening your business!



SBA Workshop: The NEW Veteran Small Business Certification Program

The SBA became responsible for the Veteran Small Business Certification Program (VSBCP) in January 2023. Now that the dust has settled on the new portal, learn about the new program, the steps to apply, and the eligibility criteria to be able to certify your business as a veteran-owned small business concern.



Proposal Writing for Government Contracting

Juliet Fletcher, Founder of Writing is Easy, will present a framework for developing a government solicitation response. She will discuss key sections of a proposal including the Statement of Work (SOW), Instructions/Conditions/Notices, and Evaluation Factors. Juliet will also discuss some of the key differences between federal, state, and local proposal expectations.



eMerge Americas

eMerge Americas is the premier technology conference transforming Miami into a global tech hub. Attracting venture capitalists, entrepreneurs and technology innovators from across the world to our vibrant shores, eMerge offers a unique tech event in one of the world’s most diverse locales.

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Is the BIP for you?

Our award-winning program provides business development and operational support to early-stage technology and innovation-driven businesses throughout Central Florida. We offer three programs that are each designed to help businesses at different stages.

Click here to see if our Traction, Growth, or Soft Landing Program is a good fit for you!

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