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Study: SMBs bride personal achievement over money
Small business owners have a lot of pride in their stores or businesses, but work isn't the only thing they're thinking about. According to a new study from computer brand Dell and Manta personal achievement out-ranks money for most SMBs.
The study also found most (76%) of small business owners would start another business while 74% say they are 'dedicated' to expanding or maintaining their current business.
"Manta is committed to helping business owners succeed - regardless of whether they are just getting started or striving to reach a major business milestone," said John Swanciger, CEO of Manta. "We continue to collaborate with Dell to drive small business growth and success - together, we're dedicated to providing true value to the small business community, supporting them with the tools and technologies they need for their businesses to thrive."
Here are some interesting takeaways from the report:
• 49% of SMBs were inspired to start a business while working for someone else
• Public sector and healthcare SMBs are most likely to start by writing a business plan, food/beverage and industrial space SMBs are most likely to start by buying equipment
• SMBs believe mobile (32%) and social (41%) tech are key to their future growth
• 53% say their first tech purchase was a computer
Still, when it comes to what makes them feel good about their business nearly one-third (29%) said their 'proudest moment' was winning an award while 37% say winning repeat customers is an important milestone. Meanwhile 37% said personal achievement outranked financial stability (28%) for their business.
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