Small Business Optimistic
Here are some interesting tidbits from Mastercard's recent small business survey.
Half of small business owners are confident they will meet their financial goals this year – a 5% increase over 2005 – and continue to think their future outlook remains promising (51% in 2005 vs. 50% in 2006)
There is a direct correlation between the number of hours small business owners spend on administration and the number of employees they manage. Sole business owners spend 7 hours on administrative tasks weekly, while those with 2 – 9 employees spend an average of 18 hours a week on administration. Owners with 10 or more employees spend and average of 31 hours on administration each week.
Use of Technology – Three in four small business owners around the world (78%) say that technology is important to their business's future, with one in four (26%) saying technology is "extremely important." Small business owners in Mexico and Brazil are the most likely out of all the regions to value technology – 91% say technology is important to their businesses future.
If the small business marketplace is important to you then check out the full results of the Mastercard Annual Small Business Survey
Entrepreneur | admin | 22 December 2006 |
