Today Visa introduced an inaugural report on small businesses based on a poll of more than 600 small-business owners and the most current Visa spending data on small business cards. According to the report, while small-business owners are optimistic about revenue growth and profits, they do have concerns in some areas:
- Most small businesses experienced rising energy costs in the year and they expect increased spending to continue in the next six months
- Larger small businesses express concern that cost of health care will continue to increase
- Tax spending for preparation services and payments on VISA small-business cards increased by 80 percent for the 12 months ending in February 2007, and the average spending on tax preparation and payment is three times the size of the average purchase for all VISA business card transactions
- Attracting new customers is also a concern for small businesses as average marketing costs have increased by 56 percent for the year ending in February 2007
Nevertheless, small businesses appear to be remaining optimistic as almost half of the small-business owners expect an increase in revenue as compared to the 10 percent who expect a revenue decrease.
Posted by
Lena Basha on June 6, 2007 01:04 PM
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