News Developments

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Tag Archives: Small Business

Small Business Performance in the First Quarter of 2010

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In May 13 of 2010, the SBA released small business performance of First Quarter statistics. The small business trends are:

  • In the first quarter of 2010, real gross domestic product was 3.2 percent.
  • There was an increase of 14.8 percent on an annual basis in real gross private fixed investment.
  • There was an increase 3.6 percent and 5.8 percent in real personal consumption and real exports respectively.
  • The non-farm payroll increased by an overall 283,000 jobs which showed a positive sign of increase in hiring. Regardless, the unemployment remained high at 9.7 percent.
  • The self-employment growth was stable.
  • In the first quarter of 2010, except construction, financial activities and information other major industries experienced net job growth.
  • Because of the Federal Reserve Board maintaining their target federal funds rate nearly around zero percent, interest rates remained very low.
  • There was overall growth in economic trends in the first quarter when compared to 2009. Poor sales are of top concern of small business owners.
Filed under SMB's
Nov 2, 2010

UK Small Enterprises Save 67 Percent of Information in Mobile Brandband USB sticks: Analysys Manson Report

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As per a report published by Analysys Manson which examines the ways in which the small or medium sized enterprises can cut technology costs quickly, small enterprises employees should use mobile broadband USB sticks and data cards when traveling in order to save their businesses GBP2145 each year rather than relying on Wi-Fi hotspots. The report which was entitled small enterprises save money with mobile broadband which was published ahead of Mobile World Congress 2010, Barcelona, showed that each employee who keeps traveling throughout the year can save Wi-Fi hotspots charges till GBP700.

SMEs have a chance to choose the highly competitive offerings which may be with or without contracts from the providers like O2, BT, 3, Orange, Virgin, T-Mobile and Vodafone. More ubiquitous coverage and reliability is offered by the mobile broadband services when compared to Wi-Fi hotspots. Though the access speeds lag than those found at most hotspots.

Filed under SMB's
Nov 1, 2010

Small Businesses Spend Too Much on IT: A Survey by Brother

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As per a report commissioned by printer manufacturer Brother, small businesses are spending more than required on IT because of short-term thinking and also due to lack of computing knowledge.

As per the survey by Brother, small businesses are investing on cheap hardware for making short-term savings, but they had to pay higher costs in the long run. The small and medium sized enterprises are just thinking of the short term savings and are not concentrating on the money they have to spend later because of the low quality of the hardware. One of the other reason for purchasing low quality hardware is a false economy. The higher quality of the equipment could increase the productivity and ultimately the revenues. This is because of the tech journalists, bloggers and analysts who were the contributors for the report asserted. The larger corporations have IT directors who will be responsible for IT strategy. Only few small and medium sized businesses appoint a specialist.

Filed under SMB's
Oct 21, 2010

Low Consumer spending is the Top Concern of Small Businesses in UK

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According to a survey of businesses in UK, the biggest problem faced by small businesses is less customer spending. About 20 percent of the business owners who were polled by the Business Link for its Business Confidence Index mentioned that there was a fall in consumer spending and it is the major concern for the small businesses.

About 72 percent of the businesses are still feeling the effects of the downturn when compared to 63 percent past year which was when the country was technically in recession.

The entrepreneurs in London are primarily trying to decrease residual problems from the recession by refocusing on their core products and services or by cutting costs. There is a decrease in laying-off staff from 19 percent to 13 percent in the past 12 months. About 4 in 10 businesses believe that it is unnecessary to take some action to deal with the recession.

Filed under SMB's
Oct 21, 2010

Drop in Small Business Owners Confidence in July: Discover Small Business Watch

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According to Discover Small Business Watch, there is again a drop in the confidence levels on economy by small business owners. The small business owners have rated the current economic condition as poor and are expecting that it would get worse. There was also drop in index to 83 in July from 86.1 in June. The index has been below 83 from the starting of the year.

The survey has collected Small Business Owners opinions in different aspects.

About Country’s Economy
About 58 percent of the small business owners have rated the economy as a poor one during July. This has increased from 51 percent in June. About 7 percent of them have rated that the economy is excellent or good which has dropped from 12 percent in June.

Another Recession
About 75 percent of the small business owners strongly believe that the economy will slip into another recession before their is full recovery. About 15 percent of them are not expecting another recession and about just 10 percent of them are unsure.

Small Business Owners Have Disapproved the Way the Government has Handled the Economy
About 60 percent of the small business owners have strongly disapproved the way the government is handling the economy which has increased from 52 percent in 2009. About just 39 percent have strongly approved which has decreased from 47 percent in July.

Increase in Number of Small Business Owners Taking Home Less Pay
Around 73 percent of small business owners who were surveyed reported that the current economy has resulted in taking home less money in July which has increased from 69 percent in July of 2009.

Confidence Indicators:

  • About 45 percent of small business owners have expressed that the economic conditions for their business were worst in July which has increased from 43 percent in June. About 30 percent of the respondents expressed that the economic conditions were better. About 22 percent of them expressed that the economic conditions were same and only 3 percent of the small businesses were not sure.
  • There was decline in temporary cash flow issues in July. In the past 90 days, about 49 percent of small business owners expressed that their businesses have not encountered any temporary cash flow issues which caused them to hold paying some bills. This has increased from 45 percent in June. About 47 percent of the small business owners have experienced cash flow issues which has decreased from 51 percent from June.
  • About 28 percent of small business owners have expressed that they will increase spending on developing their business over the coming 6 month which is up from 25 percent in June.
  • This year, 97 percent of the small business owners have not applied for the stimulus funded SBA loans.
Filed under SMB's
Oct 13, 2010

Increase in Installation of Basic Security Software by SMBs

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There was a rather very good improvement when it comes to prioritization and budget for security software and services to protect their customers’ and their own most sensitive data by small and medium sized businesses.

Many number of SMBs are now are keeping data security on their top IT priority compared to previous year, according to a Symantec survey. SMB owners have also admitted that they are yet to implement even the most basic data security technologies and policies. About 33 percent of SMBs did not even install basic antivirus software application.

Many small and mid sized businesses have been neglecting their security infrastructure, but now-a-days they are beginning to invest the money on security to prevent cybercrimes and other related issues.

Many of the lawmakers are imposing on companies of all sizes to protect their customers’ data by passing legislation to have minimum security standards.

There would be considerable increase in the expenditure on data protection in 2010 when compared to the average expenditure $51,000 previous year.

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Filed under SMB's
Oct 12, 2010

UK SMEs in Data Recovery Failure

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Many of the small and medium sized businesses in UK are still failing to protect the important data of their firms. This is according to a survey by Vanson Bourne and commissioned by Acronis. About 600 small and medium sized businesses from France, UK and Germany took part in the study. It was accomplished to gauge the differences in backup adn data recovery practices among all the 3 countries.

According to the findings of the survey while coming to data recovery, UK has the worst attitude. About 38 percent of UK SMEs are claiming to never back up. On comparison with France and Germany, it is just 6 percent and 9 percent respectively.

Though UK has worst attitude towards data recovery, UK firms are most confident of making a faster recover in case of hardware crash or computer virus.

As per the survey, about 63 percent of the organizations take at least a day or more in order to recover from system downtime.

Serious threats like failure can be avoided by using simple backup procedures and the key data can be stored off-site of even in the ‘cloud’. There are many number of choices to back up the data.

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Filed under SMB's
Oct 11, 2010

SMB Ad Spending Grew Up In Q2 2010

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In second-quarter of 2010, there is an increase in search spending of small businesses, according to WebVisible.

Small business ad advertisers expenditure on search advertising in second-quarter of 2010 was $2,231 which had an increase by 1.4 percent from first-quarter of 2010 and by 159 percent in second-quarter of 2010.

  • Attorneys, dentists and general contractors were the consistent and most popular advertisers in second-quarter of 2010.
  • There was an increase in seasonal expenditure by landscapers, air conditioning contractors and businesses offering fencing, awning and irrigation services from first-quarter to second-quarter in 2010.
  • There was an increase in spending significantly from first-quarter to second-quarter in 2010 by business which offered jewelry, job recruitment services, mortgages, loans.
  • The trends among WebVisible’s US advertisers represents $23 million in US small business advertiser from second-quarter of 2009 through second-quarter of 2010 spending from 12,000 more individual advertisers in second-quarter of 2010.
  • There was an increase of 29 percent of clicks resulting in a phone call to the advertiser over the last quarter and also there was an increase of 58 percent over the last year during the same period.

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Filed under SMB's
Oct 5, 2010