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Small Business is Big and Growing Fast

SMALL BUSINESS IS BIG AND GROWING FAST 23 MILLION SINCE 1995 -SINCE 1990 SMALL BUSINESSES SMALL BUSINESSES =54% ALL U.S. SALES CREATED MORE THAN =NUMBER OF SMALL BUSINESSES IN THE U.S. SINCE 1992 65% +8 MILLION -4MILLION +49% NEW JOBS ADDED BY JOBS REMOVED BY SMALL BUSINESSES BIG BUSINESSES OF NET NEW JOBS THE CLOUD HAS LEVELED THE PLAYING FIELD FOR SMALL BUSINESS The Cloud is allowing small businesses to leverage their data and act faster than corporations. David vs. Goliath Many small stores are already using cloud-based point of sale systems to track business analytics related to hourly sales, inventory and products. Of those: 42% react to data within 24 hours 16% within 36 hours 48 hours 38% Other within of ShopKeep POS customers are 94 optimistic that their revenues will increase in 2014 20% BUT THERE ARE SOME CHALLENGES 41% of small businesses are still worried about the stability of the economy EARLY ADOPTERS OF CLOUD BASED POS ARE ALREADY SEEING 14% are worried about increased local competition : 13% are worried about taxes BENEFITS 9% are worried about competition from online: 8% are worried about health care Average increase in 2012 vs. 2013 same store sales for Shopkeep POS customers 15% have other concerns including staff turnover and pressure to keep revenues stable BY SHOPPING LOCAL YOU CAN MAKE A BIG DIFFERENCE KWHY 12% 40% 30% SMALL BUSINESSES BELIEVE THEIR CUSTOMERS KEEP COMING BACK MUCH MORE SO THAN SPECIAL OFFERS (3%) LOYALTY/REWARDS PROGRAMS (2%) OTHER FACTORS (12%) SUCH AS HIGH QUALITY PRODUCTS Great Customer Service Support for a local store Personal Relationships SMALL BUSINESSES Tech investment PLAN TO SHIFT FROM ADVERTISING 12% Accounting or payroll software 28% Other 6% A new website or Mobile e-commerce presence payments TO DIRECTLY ENGAGING Marketing investment 32% 20% 11% WITH THEIR CUSTOMERS USING THEIR OWN TOOLS Mobile marketing Email marketing to customers Online and Social Media traditional advertising REVENUE RECIRCULATED BACK TO THE COMMUNITY 13.6% 48% Local Community 34.5% 65.4% Green: retailers Pink: restaurants Small businesses account for around half of GDP and employ about half the workforce. Small stores create local jobs and revive local communities, which in turn stabilizes our economy. SHOP LOCAL EVERY DAY AND MAKE 2014 THE YEAR OF SMALL BUSINESS Sources: United States Census Bureau: Statistics of U.S. Businesses: U.S. Small Business Adminstration: Shopkeep POS 2014 Outlook Survey of 648 small businesses nationwide. Survey conducted December 2013 Shopkeep POS 2013 Same Store Sales Index American Independent Business Alliance, 'The Multiplier Effect of Local Independent Business Ownership; 2012: SK ShopKeepPOS © 2014 Inc., All Rights Reserved

Small Business is Big and Growing Fast

shared by yamarieg on Feb 06
Small businesses are the lifeblood of our local communities and the engine room of the economic recovery. That’s the clear message of this unique and beautiful infographic, put together by combining...


ShopKeep POS


Cherry Moon


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