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New Data Reveals Growth Plans for Small Businesses

New Data Reveals Growth Plans for Small Businesses

By | 05.16.13
New Data Reveals Growth Plans for Small Businesses

New research from Dell and Intel finds that small business owners are refocusing on growth, after years of struggling to survive the economic collapse.  In a survey of 941 U.S. companies with one to 99 employees, Dell and Intel found that nearly half of small businesses have plans for growth in the near future.  About 38 percent of small businesses are focused on long-term growth.

Among the results of the research are a strong indication that technology is key to a businesses’ growth.  “Small business owners are now more dependent than ever on technology for growth since their customers and employees are so geographically dispersed,” said small business consultant Barry Moltz.  “This technology challenge is becoming increasingly difficult with customers and employees expecting to be able to access information from anywhere, and on any device.”

Dell entrepreneur-in-residence Ingrid Vanderveldt adds, “To compete in today’s global landscape, they need technology to innovate, but it’s not the only thing they need.  Turning a great idea into a successful business also requires access to financing, networking, and knowledge.”

Here are some of the more revealing points from the new research study:

  • Over 50 percent of domestic small businesses see better growth opportunities in the U.S. than abroad.
  • About 66 percent of U.S. small businesses do not consider global market access a key to growth.
  • More than 75 percent of small businesses view access to technology as a key component to growth.
  • 90 percent of respondents believe that their technology needs are being met, but are concerned about lagging behind in the future.
  • Over 40 percent of small businesses surveyed say their technology needs are becoming increasingly complex.
  • Over half of small business owners and entrepreneurs are optimistic about 2013, with expectations of better sales and more growth opportunities.

Dell and Intel’s research also reveals what startups and small businesses believe are the most important ways the government and big business can aid their growth potential. These include expanding access to capital, improving connections to talent networks, and improving access to technology. Focusing on these efforts will continue to level the playing field and ensure healthy growth, small business owners say.

Source:

Brooks, Chad. “Small Businesses Shift into Growth Gear.” Business News Daily, 5/14/13.

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