Small Business Survey Results: Challenges Facing Businesses

Thank you to everyone who completed Pioneer Strategies’ recent small business survey.  This is the first installment in a series of posts focusing on the results of that survey.  Please note that this is not a scientific poll.  Please also note that response totals may not be recorded at precisely 100.0% due to rounding.

Title/Position of Respondents

• Business Owners:  63%
• Management:  16.7%
• Sales:  7.4%
• Marketing:  3.7%
• Public Relations / Communication Professionals;  5.6%
• Considering starting a new business:  3.7%

Size of Respondents’ Organizations

• Less than five employees:  43.9%
• 5-9 employees:  28.1%
• 10-25 employees:  14.0%
• 26-50 employees:  3.5%
• 51-99 employees:  3.5%
• 100-249 employees:  1.8%
• 250-499 employees:  1.8%
• 50o or more employees:  3.5%

Length of Time Respondents’ Organizations Have Been in Business

• Currently working to start a new business:  5.3%
• Less than one year:  3.5%
• 2-3 years:  8.8%
• 4-5 years:  8.8%
• More than five years:  73.7%

Challenges Facing Businesses

Respondents were asked to identify issues which present challenges to their business.  On the first such question, respondents were able to select multiple responses.  Their answers were as follows:

• Increasing sales:  58.7%
• Hiring the right people:  43.1%
• Cash flow:  43.1%
• Local / state / federal regulations:  41.4%
• Cost of healthcare:  36.2%
• Properly utilizing technology:  20.7%
• Taxes:  20.7%
• Obtaining capital:  13.8%
• Other:  6.9%

When asked to select only one item from the same list, respondents answered as follows:

• Increasing sales:  42.1%
• Hiring the right people:  19.3%
• Local / state / federal regulations:  10.5%
• Cash flow:  8.8%
• Other:  8.8%
• Obtaining capital:  5.3%
• Cost of healthcare:  3.5%
• Properly utilizing technology:  1.8%
• Taxes:  0.0%