Small Business is our Business

Archive for December, 2013

SMALL BUSINESS CONCERNS

The top concerns small business owners have for the success of their businesses in the next 12 months include—-

*Health care costs 77%
*Effectiveness of government leaders 76%
*Commodities prices 70%
*Strength of U.S. dollar 69%
*Consumer spending 63%

Source: Bank of America Small Business Owner Report, Fall 2013. A survey of 1,000 small business owners with annual revenues between $100,000 and $500,000 and employing between 2 and 99 employees.

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WHERE DO SMALL BUSINESS OWNERS GO FOR FINANCIAL ADVICE?

*Accountants/bookkeepers 75%
*Other small business owners 55%
*Financial Advisor 53%
*Banker 45%
*Family of friends 45%
*Lawyer 42%
*Online Sources 37%
*Nationally recognized small business experts 27%
*Non-profits or government agencies 25%

Source: Bank of America Small Business Owner Report, Fall 2013. A survey of 1,000 small businesses in the U.S. with annual revenue between $100,000 and $500,000 and employing between 2 and 99 employees.

EMAIL IS THE MOST POPULAR COMMUNICATION CHANNEL FOR SMALL BUSINESSES

Forty-six percent (46%) of small businesses use email as their primary channel for business communication.  Why?  Small businesses cited ease of use (60%), cost effectiveness (59%), and familiarity (40%).

Source:  2013 Small Business Communications Benchmark Study conducted by Pitney Bowes.

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