Major Developments Major Developments by Calendar Year

January 4, 2011

Web Holdouts of Small Businesses are Unsearched, Unfound, Unfulfilled

Filed under: Small Business — Tags: , , , — Winson @ 4:50 AM

Web marketing plays a major part in company’s development by transferring messages, advertising goods and services, all over the Internet. It has high potential of reaching a large market effectively. But many small businesses in U.S are unable to make their business presence felt in internet. It is major drawback for the development of small business.

According to a survey conducted by Neilsen and Webvisible, in last November, though searching for local product or service in Internet by various search engines like Yahoo, Google, Microsoft’s live search, is the No.1 priority for both consumers and small business owners, a huge segment of customer population, is missing out by the small businesses. It is because small businesses spent less than 10% of their marketing budgets on advertising in Internet. It is to be kept in mind that, 44% consumers turn to Internet when looking for local products and services.

According to other data, 40% of consumers say that problem finding a local business exists, as only 44% of the small businesses have their own websites. Small businesses are very reluctant to change their traditional way of running a business, as they found web marketing to be very expensive.

December 27, 2010

Half of Irish Small Businesses Plan to freeze recruitment in the next 3 months

Filed under: Small Business — Tags: , , — Winson @ 8:32 AM

The Small Firms Association (SFA) has conducted and released the findings of its Q2, 2010 Jobs Sentiment Survey on a total of 622 companies employing 13,750 people. The sample constituted mainly of manufacturing, distribution, retail and services sectors and from a regionally representative sample, which included all parts of Irish Republic.

The survey states that, during the last 3 months, 60% of companies have maintained current levels of employee numbers, but 29% of companies had experienced a decrease in employee numbers in the same period. Just under a quarter (24%) of companies expect a further decrease in the next 3 months.

The Q2, 2010 survey shows for the next 3 months, 14% of companies indicated the introduction of short-time working (a decrease of 1% on Q1, 2010) and 7% implementing lay-offs (a decrease of 4% on Q1, 2010). With an increase in 3% from Q1, now 50% of small firms will implement a recruitment freeze in the next three months. And 24% of firms will not extend any current employment contracts; this figure remains unchanged since the end of 2009.

In regard to training, 37% of survey respondents indicated that in the next 3 months they will be training and improving the skil of the staff.

Small Firms Association’s director stated that many of the small businesses are reluctant to recruit mainly because of economic and financial uncertainty.

With three out of five companies are hoping employee numbers to stay at their current level and 19% of firms expecting to increase their employee numbers, and with regard to training, 37% of survey respondents indicated that in the next 3 months they will be training and improving the skill of the staff, 2011 looks much better than the current year.

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November 26, 2010

Small Business Added New Jobs in the Month of July 2010 : NFIB Index

Filed under: Small Business — Tags: — Winson @ 10:36 AM

As per the National Federation of Independent Business’s monthly employment poll, about 10 percent of jobs were added by small businesses last month, which has increased from 5 percent. As per the July report, there was a loss of 0.15 workers per firm for the past 3 months which is down from June’s loss of 0.28. This implies that the private sector employment rate is improving. But, still there is a need for the new jobs to be created.

As per a poll by Reuters who polled economists reported that there was a slight increase in unemployment rate from 9.5 previous month to 9.6 in July. There is an expectation that the private employers would add 90,000 positions. There is a overall payroll decline of 65,000.

About 10 percent of the small businesses firms are planning to decrease employment which has increased by 2 percent from the previous month. Only 9 percent of the small business firms were planning to create new posts which has decreased by 1 point.

As per the poll on NFIB member firms, small businesses are the main source of increase in employment. But, these firms are reluctant to hire because of the uncertainty of pace of recovery and weak sales.

November 25, 2010

Few Quick Facts about U.S. Small Business

Filed under: Small Business — Tags: — Winson @ 9:37 AM
  • About 70 million income is generated by 27 million small businesses in United States.
  • 99.7 percent of employer firms in United States is represented by small businesses.
  • One third of the American voting public is represented by members of the small business community.
  • Small businesses employ about half of all private sector employees.
  • They pay about 45 percent of total United States private payroll.
  • They also create an average of 4,000 jobs per day.
  • They create about 90 percent of new jobs in United States.
  • Small businesses hire about 40 percent of the high tech workers.
  • About 6 trillion dollars in revenue is generated by small businesses each year. This is equivalent to the second largest economy in the world.
  • About 97.3 percent of all identified exports are exported by small businesses.
  • 13 times of patents are produced by small businesses when compared with large firms.
  • About 50 percent of non-farm private gross domestic product is created by the small businesses.
  • About 12.5 percent of small business owners are immigrants in United States.
  • Immigrants are 30 percent more likely to start a new business when compared with non-immigrants.
  • In the growth of small businesses, Hispanics are key drivers. About 2.5 million plus are current Hispanic-owned business segments. They generate more than $388 billion annually.
  • About 1 million are black owned small businesses in America. They account for over $100 billion in annual sales.
  • 13.1 million people are employed by women through their small businesses. They generate 1.9 trillion in annual revenue.
  • As per a report by Intuit Future of Small Business, majority of teens are preferring to own their own business rather working for a large corporation.

November 4, 2010

SMB Technology Spending on the Rebound: Microsoft Study

Filed under: Small Business — Tags: , — Winson @ 9:43 AM

As per Microsoft Corp. annual Microsoft SMB/Partner Insight Report, most of the SMBs will increase technology spending in 2010 though they are concerned about eh business climate. They are highlighting the importance of IT as a strategic business tool in the global economy. As per the study, 63 respondents predicted that their SMB customers will increase spending on IT in 2010 which is up from 25 percent in 2009. The overall SMB IT spending is expected ti increase by an average of 16 percent.

  • As per the belief of 40 percent of SMBs, server virtualization or IT consolidation is the best cost effective technology.
  • There would be 19 percent increase in small and mid sized customers using cloud solutions in some form as per the specialists expectations. Small and medium sized businesses have ranks software as a service among the top 3 technology solutions. It is both cost saving and also helps in business growth.
  • About 74 percent of small business specialist believe that their customers are expected to have more remote workers which is up from 54 percent in 2009.
  • Many of the small business specialists are expecting customer relationships to be dynamic in 2010. Only just about 6 percent of respondents are expecting no change.
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