Survey shows small business optimism for 2014

Jan. 3, 2014

ShopKeep POS, a provider of cloud-based business management software for the retail and restaurant industries, recently surveyed more than 640 small businesses around the U.S., with most respondents stating they were optimistic about 2014.

According to ShopKeep, 94 percent of respondents expect to increase revenue this year, and 60 percent are planning to either increase marketing efforts or expand their product lines.

Other highlights from the survey include:

  • 29 percent of respondents plan to increase their marketing efforts next year, and many plan to invest in their own marketing assets over traditional advertising.
  • 53 percent plan to invest in a combination of email marketing campaigns and social media to extend their marketing reach, and 54 percent plan to invest in a new website or e-commerce presence.
  • 82 percent of respondents believe a combination of great customer service, personal relationships and supporting a local neighborhood store is what keeps customers coming through the door, and will be key to success in 2014.
  • 42 percent of respondents are already using real-time business data to make changes to their store within 24-hours.

"We are seeing an overall shift in the way small business owners are approaching their strategies for the New Year," Jason Richelson, founder and CEO, ShopKeep POS, said in a news release. "They are starting to think big and take advantage of data, social media and DIY marketing to stay competitive, much more so than we have seen before. Cloud technology has really leveled the playing field for these retailers, and they are bullish about their plans for 2014."

Read more about trends and statistics.

Topics: Financing and capital improvements , Operations Management , Trends / Statistics

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