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Small Business Outlook: Finding Time is Biggest Challenge for Owners

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Small Business Outlook: Finding Time is Biggest Challenge for Owners

PR Newswire

SAN DIEGO, Aug. 7, 2018 /PRNewswire/ -- Reliant Funding, a leading small business finance provider today announced the results of its latest survey. Reliant has tracked trends in four core areas since Winter 2017: Top Internal Challenges, Top External Challenges, Investment Plans and Outlook for Future Success.

Reliant Funding 2017 logo (PRNewsfoto/Reliant Funding)

The study was sent to a sample of US small business owners in June 2018.

Key Findings from Small Business Outlook Report

  • Customer spending consistently stands out as the top external challenge.
  • Finding time to do everything was the top internal challenge for small businesses owners surveyed.
  • When asked about future investments the top pick for plans were consistently focused on marketing efforts.
  • Upgrades to facility and equipment came in as additional investment priorities for those surveyed.
  • From Winter 2017 to Summer 2018, optimism about the future of their businesses decreased by 10 percent.

Consistent research shows that the majority of small business owners neglect to implement marketing strategies or try to accomplish it themselves on already limited time and resources. There are various marketing strategies which exist to improve revenue growth; it's a matter of investing in those strategies to see a return on investment. For this, a reliable source of working capital is vital.

"Marketing is often an overlooked investment because smaller companies often have less time and budget to allocate to promote themselves. We are starting to see a shift in where our clients are investing their money. Ramping up marketing efforts in various capacities are one of the top five reasons they come to us for funding," says CEO of Reliant Funding, Adam Stettner.

For those surveyed about business outlook, the current sentiment on the future of their businesses for Summer 2018 took a dip compared to how they felt back in Winter of 2017.

View the infographic and complete statistics from the report.

Since 2008, Reliant Funding has been helping American business owners access the capital they need to build and grow their businesses. Over the past ten years, we've been privileged enough to work with over 10,000 businesses and have funded over one billion dollars

About Reliant Funding

Headquartered in San Diego with offices in New York, Reliant Funding provides customized, short-term funding to small and mid-sized businesses nationwide. Recognized for six consecutive years by Inc. Magazine among the 5000 fastest growing privately held companies in America For more information, please visit https://www.reliantfunding.com/ 

Media: pr@reliantfunding.com

 

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SOURCE Reliant Funding

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