Published on

Published in: Business, News & Politics
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide


  1. 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