MasterCard Small Business Survey Finds Mixed Feelings on Business Climate

Small business owners around the world have differing views on the current business climate but feel more optimistic (28%) than not (21%) about the upcoming year, according to MasterCard's annual Global Small Business Survey.

Small business owners globally are confident in their ability to meet financial goals and view the future outlook for their business as promising. They find running their own business is as fulfilling as they expected it to be, work a little more than 50 hours a week but spend 18 of those hours on administrative tasks. While competition was seen as the top challenge they will face next year, half of small business owners around the world feel that globalization will help their business, rather than hurt it.

These findings were the result of the MasterCard Worldwide annual Global Small Business Survey, which polled 4000 small business owners from around the world who manage businesses with 1 - 99 employees. A total of 500 respondents were surveyed from eight countries, including the United States, United Kingdom, Mexico, France, Brazil, China, Hong Kong and Australia.

"For the second year, we see a general optimistic outlook among small business owners worldwide as well as confidence in their ability to meet their financial goals," said Bruno Perreault, Group Head, Global Small Business and Mid-Sized Enterprises, MasterCard Worldwide. "But they still face issues that could hinder their growth, including a significant amount of time spent on administrative task and increased pressure from competition. This survey confirms that small business owners around the world share similar issues and concerns, but are also significantly impacted by regional influences."

Be the First To Comment

(Please read our comments policy first.)

From:
Show my identity with comment
Your Comment:

Leave this field empty