Last updated on December 3rd, 2016 at 06:44 pm
1) The Small Business defines a small business as an enterprise having fewer than 500 employees.
2) 6 out of 10 very small businesses have yet to establish an online presence and get a website.
3) At the same time, spending on digital marketing currently accounts 35% of total marketing budgets.
4) Small businesses account for:
- 52.6% of all retail sales
- 46.8% of all wholesale sales
- 24.8% of all manufacturing sales
5) Small businesses have generated over 65% of the net new jobs since 1995.
6) 39% of all small businesses have been in business for three years or less.
7) 35% feel that their operation is simply too small to warrant a website.
8) 52% of all small businesses are home-based.
9) Over 50% of the working population (120 million individuals) works in a small business
10) That’s mostly because the total number of small businesses has increased by 49% since 1982, and these businesses use a mix of digital and traditional marketing.
11) Even though the worldwide advertising spending is expected to slow down, its growth is still predicted to reach astonishing 12.9% next year, turning the Internet into the largest medium for advertising.
12) It may come as a surprise that 71% of small business owners do their own digital marketing, instead of leaving it to experts.
13) Internet marketing has a good reputation, with 75% of small business owners seeing it as “effective” or “very effective” at attracting new customers.
14) Most small businesses focus on increasing revenue (72%), but they also see a great value in establishing new customer relationships (60%), and marketing and advertising (46%).