Poor website performance kills business. Online shopping is convenient for shoppers and a potential goldmine for small business—- if it works properly. A survey from CWCS Managed Hosting revealed 68% of online shopping carts are abandoned prior to checkout because—–
*Website crashed 24%
*Forced to register 26%
*Confusing navigation 25%
*Unsuitable delivery 16%
More than one-half (57%) of online shoppers will leave a webpage if it takes more than three seconds to load.
Source: 2014 survey conducted by CWCS Managed Hosting, a company that offers cloud, dedicated servers, and co-location hosting.
The percent of Americans taking a vacation is at an historic low. In the 1970’s, eighty percent(80%) took a weeklong vacation every year. Today, only fifty percent (50%). So what is the problem? A 2014 survey conducted by the U.S. Travel Association found———
*Too much to deal with when they return 40%
*No one else can do the job 35%
*Want to show total dedication 28%
*Don’t want to look replaceable 22%
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