Small Business Owners 2020 Concerns

Business Growth 16th December 2019 No Comments

Small Business Owners 2020 Concerns

The Internet’s largest business-for-sale marketplace “BizBuySell”, surveyed over 1,800 small business owners in the US to get their perspective on what they see having the largest impact on their businesses success in 2020.

1. Which of the following is your top concern for small businesses in 2020?

Potential Economic Recession – 31%
Rising Minimum Wage – 19%
Presidential Election Results – 18%
Tax Regulation – 13%
Healthcare Cost – 9%
International Tariffs – 6%
Cyber Threats – 3%

2. Which of the following is your top concern for small businesses in 2020 (Manufacturing Businesses)?

Potential Economic Recession – 29%
Rising Minimum Wage – 6%
Presidential Election Results – 26%
Tax Regulation – 14%
Healthcare Cost – 8%
International Tariffs – 14%
Cyber Threats – 3%

3. Which of the following is your top concern for small businesses in 2020 (Service Businesses)?

Potential Economic Recession – 34%
Rising Minimum Wage – 16%
Presidential Election Results – 16%
Tax Regulation – 15%
Healthcare Cost – 11%
International Tariffs – 4%
Cyber Threats – 4%

4. How do you expect the small business economy to perform in 2020?

Improve- 34%
Decline- 15%
No change- 28%
Unsure -23%

5. Which potential 2020 presidential candidate do you think would best support small businesses?

Donald Trump- 46%
Bernie Sanders- 5%
Joe Biden- 7%
Pete Buttigieg- 5%
Elizabeth Warren- 5%
Other – 32%

6. Has your business ever been a victim of a cyber-attack, such as computer viruses, data breaches, and Denial of Service (DoS) attacks?

Yes- 21%
No- 79%

7. Do you know how much your business is worth?

Yes I know the exact market value – 17%
Yes, I have a fairly accurate estimate – 36%
Yes, I have a rough estimate – 29%
No, I do not know – 18%

8. What have you done to value your business?

Professional Appraisal – 22%
Comparable Business Sales – 39%
Multiples of cashflow/EBITDA – 40%
My Own Analysis – 57%
Other – 6%

Source: BizBuySell