Opinion-Corner.net » Small business

Opinions of Small Businesses

Sean — Wed, 13 Oct 2010 14:36:39 +0000

As per the HSBC Small Business Confidence Monitor, there is a overall positive outlook interms of growth, recruitment, capital expenditure in small businesses of US. But, the small business owners have no immediate plans to conduct business internationally.

Opinions on Economy

About 80 percent of small businesses in US are expecting growth in local economy will remain same or might increase in the upcoming months.
There is expectation of similar momentum by small businesses with regard to plans on capital expenditure. 61 percent of the small business owners who were surveyed are expecting that the capital expenditure will remainsame. About 24 percent of them are expecting growth in capital expenditure in the upcoming months.

On New Hiring
Less than 5 percent of small businesses in US are expecting further decrease in recruitment in the upcoming months. 85 percent of the small businesses are expecting that the activities in the recruitment will remain unchanged.

New Marketing places

About 30 percent of small businesses in Latin America and about 22 percent of small businesses in Greater China have expressed US as a top market for their international activity.
75 percent of small businesses in US that were surveyed are continuing to operate domestically. They have no intention of taking their business internationally with respect to the international business.

How Public Liability Insurance Helps Small Businesses?

Sean — Mon, 05 Jul 2010 07:07:26 +0000

Most of the companies are suffering due to lack of proper liability insurance for their business. Some of the small business owners loose their business and their personal assets because of lack of insurance coverage.

Almost all small businesses including small retail outlets need a public liability insurance. Although the insurance costs are increasing, people should find a better way for reducing the coverage which will not include both the loss of public and also the loss of you yourself. Follow the best policy which will safeguard the public as well as you.

The property of the business can be protected by insuring your business. Some of the businesses like motor vehicles business, for leasing of some property can be protected if it undergoes a theft or any damage by getting insured with public liability insurance. Liability insurance can safeguard even during the cases of infringement of person’s or company’s intellectual property. Instead in some cases even the insured is asked for sharing the financial damages of the company.

If the business is in loss, the insurance will give the compensation for the business to run on the daily basis. Even in some cases, the insurance company promises to reimburse the loss as the business owner will pay the insurance fee to the insurer on a monthly or the annual basis.

Know about Small Business Surivial Rate

Sean — Thu, 24 Jun 2010 10:08:42 +0000

In USA, small businesses play a significant role in providing employment. But they are not able to survive the local market competition and from larger businesses. There can be many reasons for this poor survival rate including low capital, unawareness of new technologies, managerial inconsistencies etc.

According to a SBA report released in September 2009, around 627,200 new employer firms began operations in 2008 and 595,600 firms closed that year. This results to an annual turnover of about 10 percent for entry and 10 percent for exit. Non-employer firms have three times more turnover rates than employer firms as they are easy to enter and exit.

It also stated that out of ten new employer firms, seven last at least two years and about half survive five years. To be more specific, latest census data shows that 69 percent of new employer establishments born to new firms in the year 2000 survived at least two years, and 51 percent survived five or more years.

According to the latest data,

70% of companies survive for at least two years
51% for five years.