Small Business Survey: Finding Time the Biggest Challenge for Owners
- August 6, 2018
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As part of our ongoing efforts to understand the challenges small business owners face, we continue to track sentiments, investments, outlook and top challenges for today’s small business owner.
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Complete Statistics from Small Business Outlook Trends Report
Small Business Outlook Winter 2017
- 50% Optimistic
- 43% Satisfied
- 7% Discouraged
Top Investment Plans Winter 2017
- 18.5% No plans to invest or expand the business
- 17.5% Marketing efforts
- 17.5% New products/inventory
Top Internal Challenges Winter 2017
- 30.7% Hiring skilled workers
- 27.1% Cash Flow
- 24.1% Marketing/advertising
Top External Challenges Winter 2017
- 28.3% Competitors
- 27.8% Customer spending
- 13.6% Healthcare costs
Small Business Outlook Spring 2018
- 43.96% Optimistic
- 38.65% Satisfied
- 17.39% Discouraged
Top Investment Plans Spring 2018
- 46.86% no plans to invest / expand
- 17.38% plan to invest in marketing
- 10.14% plan to upgrade facility/equipment
Top Internal Challenges Spring 2018
- 38.78% Finding leads/new business
- 22.45% Evolving technology
- 19.81% Marketing/advertising
Top External Challenges Spring 2018
- 29.95% Customer spending
- 17.39% Competitors
- 11.59% Healthcare costs
Small Business Outlook Summer 2018
- 39.73% Optimistic
- 43.75% Satisfied
- 16.52% Discouraged
Top Investment Plans Summer 2018
- 44.20% no plans to invest/expand
- 15.18% plan to invest in marketing
- 11.61% plan to upgrade facility /equipment
Top Internal Challenges Summer 2018
- 56% Finding Time
- 35.88% Marketing /Advertising (combined outreach and marketing percentages here)
- 32.14% Cash flow/ Access to working capital
Top External Challenges Summer 2018
- 30.14% Customer Spending
- 25.57% Competitors
- 14.61% Local Government Business Regulations