Toronto, ON - A new small business owners survey conducted by Ipsos Reid on behalf of Intuit Canada reports that small business managers today feel pulled in many directions, and often feel they are spending too much time "finding new customers" (36%), taking care of "day to day operations" (28%) and "managing accounting and/or bookkeeping" (25%) responsibilities.
The fact that accounting and bookkeeping is cited by many small business owners as a major drag on their work-time is probably in large part related to the fact that just 38% use an accountant or bookkeeper. In fact, when it comes to accounting methods, one-quarter of small business owners use "pen and paper or ledgers" (26%) and "spreadsheets" (26%), while smaller proportions use software like "QuickBooks"(15%), or "Simply Accounting"(14%)
A majority of small business owners recognize the important value of accounting software as three-quarters (77%) agree with the statement "accounting/financial planning software gives (them) the confidence to build/manage a successful business" (16% strongly agree).
The survey also explored some important issues surrounding the small business environment in Canada today, specific findings included:
- High optimism about the coming year: 80% are confident about the growth prospects for their business in the next year;
- When asked where they would go to find information about starting and running a business: 38% say "the internet"; 35% "friends and family"; 25% an "accountant or bookkeeper".
- Most (74%) small businesses market their business via "word of mouth" however many also use a "website" (29%), "flyers or catalogues" (22%), and "internet marketing" (21%).
- Two-thirds (66%) feel the Federal Government is "not supportive" of their business (29% say not at all supportive).
These are the findings of an Ipsos Reid poll conducted for Intuit and fielded from September 6th to September 10th, 2006. For the survey, a representative sample of 978 small business owners were interviewed via an internet panel survey. The sample used in this study has been weighted to accurately reflect this population. With a sample of this size, the aggregate results are considered accurate to within +/-3.2 percentage points, 19 times out of 20, of what they would have been had this entire population been polled. The margin of error will be larger within each sub-grouping of the survey population.
Full tabular results are available in the attached factum and tables
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Ipsos Reid Publc Affairs
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