Principis Capital http://www.principiscapital.com 2m 375 #business
The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
We polled our merchants (a sample size of 200 to be exact) and compiled a snapshot of the current small business environment: which businesses are thriving, which are seeing cash flow problems, and how they view the future. The merchants tended to fall into retail, food and beverage, and personal services. Participants were asked to rank the 6 biggest problems they’ve been having this year, which really gets to the heart of current economic environment.
One interesting aspect of the survey was what small business owners have been using their money on, and it seems that remodelling is high on their list. This is a great infographic for showing the difficulties small business are currently having as the economy attempts to pull itself out of a recession. It shows some industries struggling but an overall optimism for spending. This infographic would be a great addition to any blog positioning itself as a necessary small business purchase (marketing, renovation, equipment, etc). It shows the importance in investing in your business.
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Small Biz State of the Union
The environment for small businesses has been very challenging since 2007. However, Principis’ survey finds that most small businesses feel that they are turning the corner now towards growth.
1. Industry Mix
What do small businesses do?
200 Merchants surveyed
- 13% Food & Beverage
- 10% Personal Services
- 77% Retail
2. It’s A Cruel World
What are the top 6 problems affecting small business?
“Small Business Continues to Invest in Renovations Despite Poor Sales.” – Small Business Survey
- Poor Sales 89%
- Competition (Big Business) 39%
- Cost of Inputs 19%
- Taxes 17%
- Other 17%
- Internet Competition
- Foot Traffic
- Government Intervention
- Cost of Labor 10%
- Access to Financing 7%
3. Positioning For Growth
Last Time You Invested In Your Business
2 out of 3 Merchants have invested in their company in the last three years.
4. Growing Stronger
Top Reasons for Investment
80% of merchants cited remodeling as the top reason for investment.
- Remodeling 80%
- Inventory 28%
- Equipment 18%
- Advertising 6%
- Staff 5%
- Expansion 1%
5. What Future Will Bring?
Small Business Optimism vs Pessimism Next Year?
“Optimism abounds among 62% of small business owner while only 16.2% see a negative outlook for the coming year.”
- Uncertain 21.5%
- Pessimistic 16.2%
- Optimistic 63%
Principis Capital is an industry leader in small business financing, offering fast business loan alternatives to merchants regardless of credit.