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Small Businesses Looking a Bit More Optimistic

Wednesday July 6, 2011

Small business owners are probably optimistic by nature, but if you believe some new data out this week, they're putting their money where their optimism is -- into job creation.

The Intuit Small Business Employment Index, which is based on data from small businesses with fewer than 20 employees that use Intuit's payroll system, found that employers added 45,000 jobs to their payrolls in June. Those businesses also raised compensation and hours worked by 0.2 percent in the month. Intuit says the statistics reflect a national trend among the small businesses in its index:  there is growth in jobs, incomes, hiring rates and hours worked across all regions.

Another survey, of 3,000 small businesses with sales under $10 million conducted by U.S. Bancorp,  found that more small business owners (64 percent) report revenue equal to or better  than last year, compared with 2010 when 55 percent said revenue was as good or better than the previous 12 months. Only 10 percent of business owners expect revenue to be lower in 2012 and a large majority (70 percent) expect to keep staffing levels intact over the next 12 months, with 22 percent saying they plan to hire.

What's your small business doing on the job-front? Are you hiring, or is the prospect of a debt-ceiling calamity and deficit causing you to mothball your growth plans? Leave a comment.

Facebook the Big Winner in Amex Small Business Promotion

Tuesday July 5, 2011

American Express OPEN has partnered with Facebook to allow its Membership Rewards customers to redeem purchase points for Facebook advertising. Each $6,750 (yes, six thousand seven hundred and fifty American dollars) spent with an AmEx card buys $50 (yes, fifty) worth of advertising on Facebook. That's a bit less than a 1% credit. For my business, I have tried Facebook advertising and targeted 1,725,740 users (married, female, living in New York, New Jersey or Connecticut, age 50 or younger). Facebook suggested I bid $1.89 to $2.91 per click to reach this audience. So the $50 reward for spending nearly seven grand on my Amex card would buy me between 17 and 26 clicks to my website. I'd say the big winner in this deal is Facebook, which has the opportunity to get small business owners to go through the process of creating a message and targeting an ad for the first time:  Once they get used to pulling the lever and seeing the cherries, they'll keep pulling it. What's your take?

Establishing Social Media Street Cred

Monday July 4, 2011

Dun & Bradstreet Credibility Corp., which provides credit solutions for business, has its social media crew working overtime. The company has developed a list of the Most Influential Small Business People on Twitter.

Their methodology is in itself a reason to check out the list. If you can understand it, please explain it to me. One person who made it onto the list commented, "Thanks for including me on the list. Normally I'm not a big fan of 'lists' but I like this one and how you did it, and I'd say that even if I wasn't on it." I wonder....

I know what you're thinking: sour grapes. If yours truly had made the list, I wouldn't be flirting with snarkiness, now would I? Busted! With that full disclosure, I'll point you to a related article about how stalking...I mean, following....social media experts can influence your own entrepreneurial business.

Entrepreneurs are Becoming More Optimistic

Wednesday June 29, 2011

Entrepreneurs seem to be getting slightly more optimistic.

The latest Global Entrepreneur Indicator, a survey conducted in May by the Entrepreneurs' Organization (EO) of about 1,200 entrepreneurs worldwide, found that slightly more than half (52%) believe that the economy in their country will improve in the coming quarter, compared with 34% in the previous survey. Because of this optimism, a solid marjority (70%) expect to increase their number of full-time employees in the next 12 months.

Most entrepreneurs surveyed (59%) said their profits were up compared to the previous quarter, compared with 37% in the previous survey.

If you want to find the most optimistic entrepreneurs, head to the Asia-Pacific region...and if it's the pessimists you want, look no further than the United States: 78% of entrepreneurs in Asia-Pacific region believe the economy will improve in the coming three months while only 42% in the United States expect improvement in the short term.

The EO has conducted the Indicator survey three times in the past year. The average respondent's company has' annual revenue of $18.4 million and a work force of 191 employees.

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