TAB Small Business Pulse Survey (Strategic Planning)

small BUSINESS PULSE : SURVEY based on benchmark survey 2013 THE ALTERNATIVE BOARD The Business Owner's Strategic Advantage CURRENT OUTLOOK Compared to just one year ago, how many small business owners indicate their local economy is “better" now? 48% 73% 45% of British owners surveyed of Canadian owners surveyed of U.S. owners surveyed "Action plan and tactics'is considered the 'most important area" to small business owners. 66% of ALL small %business owners surveyed see their local economy doing better than óne year ago. TAB MEMBERS vs. NON-MEMBERS 70% The majority of TAB memberś suřveyed indicate they review and adjust their strategic plan quarterly, of TAB / members perceive their /local region's economy as one year ago, compared to the majority of non-TAB members who adjust annually. 31 better tħan 61% non-TAB compared to members O Business Owners and CEOS primarily facilitate the strategíc plans of small businesses. Only 4 out of 10 Business Owners rate their written stategic plan as "good" "Not enough time, too busy" was the primary reason business owners cited for having no written strategic plan for their business. Y Over half of Business Owners surveyed do not rely on a workshop or retreat for developing their strategy plan. FUTURE OUTLOOK Of all areas expected to benefit from a strategic plan, Business owners who describe their strategic plan as "excellent" or "good are much more likely to project a sharp increase in profits and sales revenue next year than owners without any strategic plan. Sales Revenues most is where business owners "Opportunities", expect to benefit once the plan is implemented. was the top aspect of business which owners believe a strategic plan can best evaluate. TAB MEMBERS vs. NON-MEMBERS 82% 76% 56% of non-TAB members anticipate growing sales of TAB members predict an increase in their sales revenues over the coming year. revenues. of TAB members plan to add to their full-time staff this year, compared to 34% of non-TAB members 46%- %24 66% of business owners predict their local economy will perform better over the next of all business owners anticipate increasing their full- time staff in the next year. year. Expectations for increasing sales revenues are high, with almost 8 out of 10 small business owners projecting growth. 77% out of small business owners surveyed predict their profits will increåse in the next year. ABOUT THE RESPONDENTS 65% Most business owners surveyed reported 2012 revenues of are family-owned businesses Less than $500K, and $1M-$2.5M Less than, $500K Less than £300K FOR MORE INFORMATION, VISIT WWW.THEALTERNATIVEBOARD.COM