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10/22/2013

Study Shows Entrepreneurs Have Self Confidence

The annual “Voices of Small Businesses and Accountants Study,” by the maker of Quicken and QuickBooks financial software, reported some very interesting and revealing information about our country’s entrepreneurs.

Here’s a rundown on what they found:

  • During the past year, 64% of small businesses and 73% of accountants have invested money in their operations.
  • The most common investments were additional advertising or marketing at 40%, new employees at 25%, and new technology at 23%.
  • The biggest challenges facing small businesses according to their owners are generating new business and revenue streams, rising insurance costs, and keeping up with competitors.
  • 75% of small business owners work with certified public accountants. Of those, 78% seek help with taxes and 37% obtain bookkeeping services from their CPAs.

Editor’s note: It’s interesting to see from this study the important role a trade exchange can play in the life of a typical small business.

For example, their most common “investment” was for additional advertising and marketing. As a trade exchange member, you know that acquiring these desired services on barter is certainly a much better value than buying them with cash.

Even the biggest challenges of generating new business and revenue streams are addressed, because a trade exchange’s major focus is providing a unique conduit for additional business and increased cash-flow ... via trade dollars earned and cash saved.



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