Small Business is our Business

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%

*Independence                                                  77%

*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

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