08 13 2013

08 13 2013

Technology Driving Small Business Growth and Optimism

As some small business owners have expressed growing optimism over the last month and year, a new study has found just what is driving positivity and success. The July 2013 SurePayroll Small Business Scorecard found that small business optimism continued to rest at a high 72 percent, a huge jump from the lowest yearly optimism rate of 45 percent in September 2012.

As hiring makes slow gains and small businesses become hopeful about the future, SurePayroll Inc. set up the survey to uncover the reasons behind the positive outlooks expressed by micro businesses – companies with an average of eight employees. According to the survey, technology is promoting small business advancement.

Survey respondents said they are conducting more business online – 73 percent said they use their websites to sell products, and many are accepting Internet payments with business credit card processing services. Entrepreneurs who have invested in up-to-date technology reported being pleased with the results, with 77 percent saying that selling products on a company website is effective.

Technological advances promote growth

Even more survey respondents – 84 percent – said that using tools like company websites, software, and new equipment have helped businesses grow. Updating these tools has become increasingly important to small businesses, making equipment financing and leasing an appealing option for many who are unable to make full payments on new communication systems, computers, servers, and other devices.

Small business owners are embracing technology across many platforms, from website design to social media and online advertising. As website sales increase, the survey also reported a rise in online advertising and use of modern devices to reach customers. The survey reported that 42 percent of respondents engage in online marketing, and 64 percent said smartphones helped them conduct business.

SurePayroll CEO and President Michael Alter commented on the survey findings, remarking that upgraded technology is contributing to the economic recovery far more than job creation.

“We’ve seen this trend for a while now, and our data this month really supports the idea that small businesses are leveraging technology to be more efficient,” Alter said.

Improved efficiency and higher sales are reason enough to stay current with technological and equipment trends, but small business owners who are resistant to change would be wise to consider the fact that nearly 80 percent of small business respondents said they have changed the way they operate to keep up with a technology-based economy.

If a small business owner wants to gain a competitive edge and meet client expectations, they can come to National Funding for assistance. National Funding can offer an individual a merchant cash advance to purchase new technology, and is also an equipment leasing company that can help an entrepreneur gain access to new business tools.

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Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.

 

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The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

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