Advice to Aspiring Small Business Owners: Have Faith in Yourself
The UPS Store ® releases Small Business Week survey results; Announces national launch with SCORE
SAN DIEGO - June 17, 2013 - (BUSINESS WIRE) - When it comes to small business, Americans’ aspirations couldn’t be bigger. According to survey results released today by The UPS Store ®, 48 percent of Americans dream of starting a business, while 71 percent of small business owners say they would start their business all over again today.
Despite the interest in being your own boss, starting a small business requires more than simply hanging an ‘Open’ sign in the window. Just over half of small business owners (51%) spent more than two years dreaming about their future company before taking the leap of faith, and nearly one third (31%) spent more than five years planning, according to the findings.
“Many small business owners told us they wish they had a partner to rely on for advice when making the leap to start their own company,” said Michelle Van Slyke, vice president of marketing and small business solutions at The UPS Store. “We want small business owners in our communities to know we’re a part of their neighborhood. We understand their needs, and we’re here for them.”
As part of its commitment to the small business community, The UPS Store also announced today a national program with SCORE, a non-profit organization that provides mentoring and education for small businesses. Together, the organizations are launching a marketing assessment tool designed to help small business owners develop and implement successful marketing strategies for their unique business needs based on recipes contained within the SCORE Cookbook.
“We know people are five times more likely to start the business of their dreams when they have a mentor,” said Ken Yancey, CEO, SCORE. “Programs like The UPS Store’s give small business owners the boost they need to achieve their goals.”
Despite the many successful small businesses in the United States, according to the survey results nearly one third of small business owners don’t think they’ve “made it” as a business owner. How they define “making it” varies from a certain amount of time in business, to number of customers, to profitability.
Additional survey findings include:
- The most common type of business Americans would open today is a restaurant (18%) followed by clothing/apparel (7%).
- The most difficult obstacle for small business owners was taking the leap of faith to start their own companies (36%).
- To overcome the hurdle, one in four small business owners relied on their own internal, personal desires while one in five found inspiration from the support and encouragement from others.
Additionally, sixty-three percent of small business owners shared the same piece of advice for budding entrepreneurs: have faith in yourself.
The results of the survey are based on an online survey with general consumers age 18+ and small business owners. The study was conducted with almost 1,500 general consumers and over 200 small business owners between May 3 and 7, 2013. The sample was drawn randomly from Research Now’s panel.
About The UPS Store
With more than 4,300 locations, The UPS Store network comprises the nation’s largest franchise system of retail shipping, postal, print and business service centers. The UPS Store locations in the U.S. are independently owned and operated by licensed franchisees of The UPS Store, Inc., a subsidiary of UPS (NYSE: UPS). Services, pricing and hours of operation may vary by location. For additional information on The UPS Store, including information on franchise opportunities for opening a The UPS Store location, visit www.theupsstore.com.
Follow The UPS Store on Twitter at @TheUPSStore and like The UPS Store on Facebook at facebook.com/theupsstore.
Since 1964, SCORE has helped more than 9 million aspiring entrepreneurs. Each year, SCORE provides small business mentoring and workshops to more than 375,000 new and growing small businesses. More than 12,000 business experts volunteer as mentors in over 340 chapters serving local communities with entrepreneur education to help grow 1 million small businesses.
For more information about starting or operating a small business, call 800-634-0245 for the SCORE chapter nearest you. Visit SCORE at www.score.org. Connect with SCORE at www.facebook.com/SCOREFans and www.twitter.com/SCOREMentors.
The UPS Store