IT IS ALMOST impossible to imagine a business not needing to advertise in a newspaper or magazine at some point or another. Newspapers particularly are prob ably the most important medium of communication for any small business. Advertising in Newspapers The paid-circulation newspaper has been around for a long time and continues to be the largest of the mass media, as measured by volume of advertising dollars. It is used by industry giants as well as corner retailers. As a small business owner, some of your advertising budget will most likely end up in your local paid-circulation newspaper. However, be careful, advertising in newspapers is no picnic and you can easily lose your shirt if you don’t know the ropes.