Obtaining credit is a concern of many small business owners, but a new survey found that affording healthcare and saving for retirement were the top personal worries of these entrepreneurs, after all owning a business makes retiring a little complex.
The first annual Small Business Sentiment Survey from Yodle found that the top three professional worries among owners are finding new customers (42 percent), affording healthcare and other employee benefits (39 percent) and keeping current customers (33 percent).
The top three personal concerns: affording healthcare (48 percent), saving for retirement (46 percent) and providing an adequate lifestyle for their family (33 percent).
Yodle’s survey, which was conducted in June 2013 through a third party research firm, polled 306 small business owners nationwide across a range of service industries.
More than nine in 10 of respondents (91 percent) “are happy that they became small business owners,” Yodle said. Over half (55 percent) said they are “extremely happy.”
A majority of small business owners (59 percent) also shared that they would likely not consider selling their business over the next few years, indicating optimism and satisfaction. However, there are a small majority of business owners who find that they are drawn to selling their business as they get closer to retirement age, but aren’t sure about how to do so or what steps to take. Luckily for them, there are helpful tips from places like Business Exits where they can get guidance on how to avoid the mistakes that come with selling their business. The doubt they feel comes down to the current treatment of small business owners.
Here’s more from the survey:
- Most small business owners are dissatisfied with the support they receive from the federal government and other institutions.Almost three in four SMB owners (73%) believe that the federal government is more of a hindrance than a help. Although some small business owners identified several institutions as helpful — trade associations (34%) and banks (26%) — almost four in 10 (39%) don’t think any organizations – including those specifically established to support them – are useful.
- Many small business owners are still not adopting modern technology and marketing approaches.Although just over one in two small business owners (51%) use technology to help with accounting operations, this dwarfs technology utilization for appointment booking and scheduling (39%), customer relationship management (34%), point-of-sale systems (25%), and acquisition marketing (14%). Additionally, more than half of owners do not have a website (52%) or even measure the results of their marketing programs (56%). A