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5MAY2005 (WHEATON, IL) – GrowingCo, Inc., a leading provider
of business data and advisory services, has announced results of
its Small Business Study. Among the findings, gleaned from surveys
of business owners from the greater Northern Illinois, Southern
Wisconsin and Northeastern Indiana areas, was that 78 percent of
small business owners were optimistic about business growth opportunities
in 2005.
The companies surveyed are classified by GrowingCo as small businesses,
defined as companies with less than 100 employees. 228 companies
participated in the survey.
The survey results provide a cautiously positive outlook for small
business; good news for the area.
More than 64 percent of these businesses expect an increase in their
companies’ capital expenditures in 2005.
"These positive growth expectations track with what I hear
from our two-thousand plus members,” said Mike Skarr, President
and CEO of the Naperville Area Chamber of Commerce. “We are
also seeing signs of renewed capital investment which, up until
recently, had been more sporadic and spotty.”
With positive expectations for growth come the attendant concerns
about managing that growth. Nearly half (49%) of the respondent
businesses indicated that they were outgrowing their current office
space. 61% of the respondent businesses indicated that improving
their sales and marketing to drive that growth was the most important
issue they were facing.
Another serious concern voiced by these companies was adopting technology.
40% indicated they will be computerizing their operating activities
and 45% indicated that they will be upgrading their already existing
computer systems. 55% indicated that they would be either improving
or beginning their activities in the e-commerce market. With over
half of the respondents indicating that they will soon be utilizing
or adapting e-commerce technologies it is clear activity in this
small business market will continue to increase.
The same optimism was also expressed by Scott Nelson, President
of Employer Outsource Services. “We’re seeing new job
growth among our clients and they are telling us they are confident
about the rest of 2005.”
For additional information about this study, please consult GrowingCo,
Inc. by visiting http://www.growingco.com or by emailing admin@growingco.com.
ABOUT GROWINGCO
GrowingCo, Inc. is a advisory firm. GrowingCo data is used
by leading companies to benchmark against competitors, evaluate
demand and understand individual customer behavior.
CONTACT
Ben Bradley
ben@growingco.com
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