Small Business Saturday, 5/12/15

The day always falls on the Saturday after Thanksgiving, welcoming tired Black Friday shoppers to “shop small” and enjoy the hometown atmosphere and unique finds, often lacking in the big-box stores.

The report, based on a semi-annual survey of 1,000 small business owners across the country, revealed that 72 percent expect their revenue to increase in the next 12 months, compared with 62 percent a year ago.

The number of companies that offer health benefits to their employees fell 5 percent to 65 percent this year from 2014, the survey found. The largest decline came in companies with 10 to 20 staffers; 73 percent are offering benefits versus 86 percent last year.

Collaboration is becoming increasingly important to area business owners, with 39 percent saying their workplace has become more focused on teamwork in the past five years. They plan to use that funding to invest in new equipment (38 percent), expand operations (37 percent) and hire more employees (36 percent).

Small business owners offer customer service as a major component of their success year-round, but especially on Small Business Saturday, as local businesses are better able to compete by way of establishing relationships with their customers. That surprised Bank of America Small Business Executive Robb Hilson, but he also said it coincides with an increase in the bank’s small business lending. Collaboration is increasing even as employers are offering more flexible work arrangements, including telecommuting options (45 percent), which almost half of small business owners (48 percent) say improve employee attitudes at work. Taken together, the reports show the fragmented nature of small business and how individual companies are doing. The ADP and Intuit, for example, rely on information supplied their small business customers. In addition, 300 small business owners were surveyed in each of nine target markets: Los Angeles, Dallas, Washington, D.C., New York, Boston, Chicago, San Francisco, Atlanta and Miami.

The recent American Express-commissioned survey looks at the shopping habits of 1000 Australian consumers and the sales habits of 700 small businesses. The margin of error is plus or minus 3.1 percent. Founded in 1943 as a nonprofit, nonpartisan organization, NFIB gives small and independent business owners a voice in shaping the public policy issues that affect their business. If you find a great small business retailer with unique products, detail your discoveries on Twitter or Facebook so others can enjoy it, too.