Marketing: Small Business Trends and Stats

Knowledge is Power. What Do You Know About the Power of Small Business?

Economists are saying we are turning the corner on the recession. That's good news. Now, how can you learn from the reactions of other entrepreneurs over the past six months? See what entrepreneurs think about the economy in NFIB polls. Try the Small Business Research Board. These can help you gauge small biz sentiment. Think about how it fits with what you see locally. Small Business trends affect you. The U.S. Chamber of Commerce covers a wide range of issues and may offer some current info and insights helpful to your business. Yes, census data is dry information. But, it you are trying to see the concentration of business by industry to decide where you should locate this may help. A SCORE mentor can talk with you about how to apply census data to your own market planning. Meet a mentor in person. Find SCORE near you. Small Business Fact Sheet Accelerate Your Success with SCORE Christine Banning, SCORE View more posts by Christine
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Comments

My observation as a business

My observation as a business coach, is that there is an increase in the number of new business owners, many people opting to start businesses as the job market is short, and that they are optimistic and confident in their ability to succeed.

Some of the research that you have listed indicates similar optimism but is on the older side and not current research.

The small biz trend stats

The small biz trend stats that you provided are very insightful.
Small Biz start ups have a better chance of surviving the those first 4 years by taking an office lease in an executive suite.

A weak cash position is one the top reasons why most small business' fail. The flexible terms and low start up in an executive suite provide an excellent advantage. This way the company is able to minimize their risk and liability, and have more cash availabhle to reinvest in their business.

Being large enough to hire a staff was also listed as a key factor in a start up survival. Most executive suites include professional staff and clerical support included in the rent. Having a professional receptionist to answer your telephone, sort your mail, greet clients, etc not only improves the company's image - it also allows the entrepeneur more time to focus on their core business.

This is great information to have. Thanks so much for your post.
CG

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