Seventy-one percent of small business owners foresee an increase of up 10 percent in their profits in 2012, according to a new survey.
The survey, by The Alternative Board, an organization that provides advisory boards and coaching services for business owners, CEOs and presidents, found that 60 percent of the small business owners polled reported an increase in profits in 2011. Of those surveyed, 55 percent of the small business owners who are members of advisory boards feel that the most valuable resource to their business for overcoming challenges is their board of business experts.
The three major threats cited by the small business owners surveyed were sluggish demand, government regulations, and availability of capital. Over half of the small business owners reported that their business improved from 2010 to 2011. More than 70 percent of non-TAB members believe they would increase profits up to 10 percent if they joined an advisory board.
Nearly 60 percent of the U.S. business owners surveyed believe a sales and marketing strategy would help them most as business owners in 2012.
