How much should a small business spend on marketing?

This may seem like a really obvious answer but a small business should spend as much as it can afford to. Its important to remember that a well executed marketing campaign should pay for itself. It has been my experience that many small businesses forget an important first step in marketing; developing a logo, business card, letterhead, and capabilities brochure (if needed). The logo for a business creates a brand image and should be used in conjunction with everything a business produces. A sloppy or poorly designed logo will reflect a sloppy and unprofessional business. Millions of dollars can be spent on logo design and research but it can be done professionally for as little as $500. Finding a graphic design student is also a cheap alternative for a sharp professional logo. The famous Nike swoosh was created for under $30.