One of the ways small businesses can turn this to their advantage is to play up the benefits of working for a small business. Almost four out of five of the survey respondents (78%) said they have worked for a small business at some point in their career. The top three things they report enjoying most about this experience are:
- A close relationship with the owner(s)
- A close relationship with customers
- A sense of belonging to the company
5. Get thrifty
Successful entrepreneurship often hinges on your ability to solve problems. One of these, according to another recent QuickBooks-commissioned survey of 2,000 small businesses, is the threat of rising prices. As a result, many are having to cut costs and drive up demand. It’s not only small businesses who are concerned about inflation. Almost all U.S. workers (97%) are worried about it as well — and they may reduce spending as a result. The first things they say they will save money on are restaurant meals, days out, and gifts for other people.