1. LOOKING AHEAD
89%
SMALL BUSINESSES HAVE BEEN RECOVERING SLOWLY SINCE THE RECESSION IN 2008. Each year has brought a
rise in spending, and 2014 is no different. As small-business owners see the economy steadily improve, their spending has
also increased. Here, we look at the current state of small businesses and what's on the horizon for 2014.
2013 was an optimistic year for small businesses, and their success is only growing.
2014 will be the year for small business owners.
With the economy ramping back up, here are 5 ways to ensure you're prepared for a stellar year.
According to Pex Card’s 2013 Benchmark Expense Survey,
of all businesses...
ADP payroll company reported that small
businesses created 102,000 NEW JOBS
in November.
The Global Business Travel Association
predicts a 7.2% rise in business
travel spending in the coming year.
THAT EQUATES TO A TOTAL OF
$288 BILLION IN SPENDING
FOR SMALL BUSINESSES.
1. SET A SPENDING PLAN.
It seems easy enough, but planning your
spending for the year can assure you
are making the best decisions you can.
Small business owners are optimistic
about hiring in the coming year...
The GBTA also predicts a 1.6% growth in travel frequency.
EQUALING 459.2 MILLION PEOPLE TRAVELING IN 2014.
1/3OF COMPANIES
surveyed by Pex Card said they expected to
spend more on web promotion this year.
OF SMALL BUSINESSES increased
their travel between fall 2013
and the previous year.
According to
SurePayroll
optimism was up to
70% at year end.
That’s up from 55%
at the end of 2012.
OPTIMISM IS RISING
HIRING IS GROWING…
INCREASED SPENDING…
INCREASED HIRING…
…AND SMALL BUSINESSES ARE TRAVELING
MORE THAN IN PREVIOUS YEARS.
For small businesses...
THE CURRENT STATE OF SMALL BUSINESSES
AN OPTIMISTIC 2014
HOW TO BE SMART IN 2014
A FEW OPTIMISTIC SIGNS...
60%
expected spending
to increase in 2013
70%
expected spending
to increase
3. TRACK AND MANAGE EXPENSES.
Tracking company spending is one of the more stressful and costly parts of owning a
business; put a plan (and service) in place to ensure streamlined expense tracking.
4. INVEST IN YOUR GROWTH.
Growing your company takes capital. Don’t
be afraid to invest in your company and
employees; you will benefit in the long run.
SOURCES: Inc. | Pex Card | GBTA | ADP | SurePayroll
2. CREATE A SAVING PLAN.
Business is unpredictable. Even with
a spending plan, you can’t anticipate
everything. Make sure you have the
ability to be agile.
5. CALL ON THE
PROFESSIONALS.
Don’t try to do it all on your own! Get some
help, and free up your time and energy to
focus on more important matters.
80%say they plan to
increase hiring
in 2014
NOW
HIRING
SMALL BUSINESS SPENDING IN 2014
8 OUT OF 10
small business owners also
said they plan to increase
the number of products
and offerings in 2014.
According to a recent survey by Inc.,...
37%
of small business owners
characterize their coming
year’s business prospects
as excellent.
45%
characterize their
prospects as good.
INCREASED PROSPECTS…
EXCELL
ENT
GO
OD
INCREASED TRAVELING…
55%
70%
OPTI
MISM!
Dec.
2012
Dec.
2013