Micro Businesses Fared Well in 2012, Optimistic About 2013
It’s a great time to be a micro-business owner, at least that’s according to Vistaprint, a promotional marketing and product service provider. The business recently announced the results of a survey that found owners met many of their goals for last year, and now look to the year ahead with growing optimism.
Last year, Vistaprint said its Small Business Happiness Index survey found owners were prioritizing growing their customer base. Turns out, a large majority succeeded in that endeavor: 73 percent of respondents reported they saw positive customer growth during 2012.
Increasing revenue was another stated target of micro-business owners. Sixty percent of respondents said they experienced revenue growth last year. While this represents a decrease from the 71 percent who reported the same in 2011, it is another strong indicator of the economic situation. Overall, 79 percent of business owners expect their revenue to be even greater this year.
In addition to greater generation of revenue, small business owners plan to boost their referral strategies for attracting customers. Identified as the No. 1 contributing factor to increases in client numbers, word-of-mouth referrals were hugely important to respondents. As such, many voiced plans to invest in referral programs and business cards to boost their marketing strategies.
“It is encouraging to hear that small business owners are optimistic about their revenue goals and company growth,” said Don LeBlanc, chief marketing officer for Vistaprint.
Defined as businesses with between one and 10 employees, micro businesses are already doing exceptionally well in the early year: 48 percent said they are on track to make more than they did last year. Overall, 78 percent of micro-business owners were either happy or very happy.
Even though they’re doing well, micro businesses might need some extra financial help given the size and structure of their operations. If in danger of a cash flow crisis, micro-business owners can turn to National Funding for a small business loan to tide them over and grow the business.