Women small business owners are now a force in the U.S. economy. A recent report by the U.S. Senate Small Business & Entrepreneurship Committee found that woman owned businesses represent 30% of small companies, yet receive only 4.4% of the total dollars in conventional small business loans—— that’s $1.oo for every $23.00 loaned. A close look at the numbers of loans given to businesses owned by women reveal—
*Conventional small business loans—–16%
*Small Business Administration backed loans——17%
When it comes to venture capital funding, these woman owned businesses receive only 7%. Government contracts are also difficult to receive. Only four percent (4%) of these businesses in 2012 received government contracts. The committee hopes to make changes in the SBA’s microloan program aimed at helping companies borrow up to $50,000. The Intermediary Lending Program, a program that allows business owners to borrow between $50,00 and $200,00o is up for reauthorization and the committee recommends continuation.
Starting and growing a small business is hard work, but those who do find the rewards are great. In fact seventy-seven (77%) said they wouldn’t hesitate to do it again, while 77% said they would recommend owning a small business to their children. The benefits of owning a small business include—-
*Being your own boss 79%
*Making strategic decisions 77%
*Close relationships with customers 73%
Source: The Citibank Small Business Pulse, a survey conducted by telephone of 802 small business owners in April 2014.
Seventy percent (70%) of small business owners describe their company’s financial health as good, very good, or excellent.
Source: U.S. Bank 2014 Small Business Survey
Ninety percent (90%) of human resource professionals check out social media profiles, especially Linked In and Facebook, before inviting a candidate in for an interview.
Source: Knock ‘Em Dead Social Networking by Martin Yate. 2014
Fifty three percent (53%) of small business owners in metro New York already know the fate of their business. For those with succession plans——
*52% intend to transfer or sell the business to a family member
*13% plan to dissolve business
Source: 2014 Spring survey of Small Business Owners by Bank of America
Most travelers browse online travel sites, but purchase their tickets from an airline. An April 2014 survey of 2,066 adults by FlightView, a travel app for mobile phones, found——–
59% purchase tickets from airlines
*30% purchase airlines tickets from online travel agents
*8% purchase airline tickets from travel agents
36% search for airline tickets on airline websites
29% search for airline tickets on Expedia or Orbitz
Brothers International Corporation has just released findings from the 5th Brothers Small Business Survey. Seventy-two percent (72%) of small business owners in the U.S. believe new technologies will offer a greater return on investment than new employees(28%). Small business owners find these technologies indispensable for running their business—–
41% Mobile devices (smartphones and tablets)
32% Customer relationship management software
21% Social media/social technologies
15% cloud services
This survey was conducted in January 2014 among 500 small business owners by email .