Small Business is our Business

Archive for July, 2012

One in Six Small Business Owners Is An Immigrant

Immigrants are entrepreneurial folk.  They make up 18% of all small business owners in the United States. Using U.S. Census data, the Fiscal Policy Institute , an independent research organization committed to improving economic and social conditions, has published a report focusing on businesses owned by immigants.  Key findings reveal—-

*Immigrants play a   key role among high-tech businesses.  Twenty percent(20%) of business owners in computer systems design are immigrants.

*Many immigrant businesses  are playing a prominent role in revitalizing downtown areas.  These businesses include restaurant(37%),   grocery stores (49%), and laundry or dry cleaners(54%).

*Immigrant women are more likely the U.S. born women to be business owners.

*Most of these entrepreneurs come from Mexico, followed by India, Korea, Cuba, China, and Vietnam.

*California has the highest percentage of immigrant businesses(33%), followed by New York(29%), New Jersey(28%), Florida(26%), and Hawaii(23%).

Source:Fiscal Policy Institute’s Immigration Research Initiative, 2012.

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CASH FLOW CONTINUES TO PLAGUE SMALL BUSINESSES

Forty-three percent(43%) of small business owners could not obtain needed funds  during the last four years——no loans, no credit cards , no investors.  One-third had their existing credit lines  slashed and one in ten had their loans called in early.  Unable to find funding, one-third reduced their number of employees , while twenty percent(20%) reduced employee benefits.   These are a few findings from the National Small Business Association’s 2012 Small Business Access to Capital Survey.

Cash flow problems do not just stem from difficulties in finding outside financing.. Many small businesses are feeling the pinch when it comes to client payments.   Twenty-one percent(21%)  of the survey’s respondents reported longer payment times. Today, 29% report payment terms of net 60 to 90 days—- up from 6%.

Despite the current situation they may be a light at the end of the tunnel——namely the recently passed JOBS Act and the easing of restrictions concerning  crowdfunding. Nineteen percent(19%) anticipate seeking investors through crowdfunding.

Who Uses Twitter on a Cell Phone?

Twitter usage is strongly correlated with mobile technologies, especially smartphones.  One in five smartphone owners(20%) Twitter, with 13% Twittering daily. A demographic breakdown of those  Twitters reveals—-

*22% are 18-24 years old

*14% are 25-34 years old

*17% are Black

*12% are Hispanic

*23% have household incomes between $30,000- $75,000

*10% have no high school diploma

*6% are high school grads

*11% are college grads

This survey was conducted from March to April this year by the  Pew Research Center’s Internet  & American Life Project.

How Often Do Employees Check Office Voice Mail or E-Mail While On Vacation?

Some folks just can’t leave the office . A recent survey conducted by Expedia.Com  entitled Vacation Deprivation found:

*4% constantly  check voice and e-maail

*20% regularly check

*34% somtimes check

*42% never check

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