Survey: Small Biz Owners To Reinvest In Their Businesses

Tech Proves To Be Key Initiative

Small Biz OwnerA new survey from Brother International Corporation (asi/12600) paints an encouraging view of the state of small business. The company’s sixth annual small-business survey revealed that 54% of small-business owners said they would prefer to invest in their businesses instead of stockpiling cash – a figure that has grown by 18 percentage points in five years. In addition, the same number of survey respondents as last year (42%) reported high levels of stress due to the economy, compared to 58% two years ago.

Technology proved to be a key initiative for small-business owners, as roughly two-thirds of respondents planned to make a tech change this year. Over 60% of small businesses surveyed use cloud computing, and 95% find it beneficial to their companies, while 34% believe the cloud has saved them money.

If given the chance, 38% of owners would replace their current laptop and 20% would replace their mobile devices. In addition, as mobile becomes increasingly popular, 30% of respondents said they’d like to start accepting mobile payments from customers.

"Our survey shows that a majority of small businesses see a light at the end of the tunnel and are willing to invest in technology solutions to increase productivity and capitalize on new technology trends," said John Wandishin, vice president of marketing for Brother.

Brother conducted the survey in conjunction with Wakefield Research. The company surveyed 500 U.S. small business owners.