During the second quarter of 2007, small businesses reported that taxes were their greatest concern, according to a study issued by the Small Business Research Board (SBRB).
After taxes, the study which was conducted by International Profit Associates (IPA), reported that small business owners were also concerned with overall economic conditions, energy / fuel costs and health care costs.
The business owners also disclosed their expansion and productivity improvement priorities for the coming 12 months. Nearly one-third (32%) of the owners are planning to expand, with those in the Northeast having the most aggressive plans. These plans include investing in current locations and providing more services. The addition of new products, enhancement of customer service and adding of locations were also identified as the next leading areas included in expansion plans.
As owners seek to improve productivity, staff training will get the most attention during the course of the next 12 months. Improvements in existing automation, adding more automation and technology as well as staff additions followed were priorities as well. Implementing or enhancing employee incentive programs was also a goal for the upcoming year.
For more information on the Small Business Research Board visit http://www.ipasbrb.com
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