2014-08-24 09:00:53 Small Business Trends & Stats English Intuit recently conducted a survey to better understand how small businesses get started, and found that the majority of them do so with... https://d2yxjugd6jl4bj.cloudfront.net/wp-content/uploads/2014/08/08232556/Screen-Shot-2014-08-26-at-12.03.59-PM.png starting a business Did You Know? Most Small Businesses Start With $10,000 Or Less

Did You Know? Most Small Businesses Start With $10,000 Or Less

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Intuit recently conducted a survey to better understand how small businesses get started. We asked a representative sample of small business owners across the country about their experience. What made them successful? What do they wish they’d done differently? What are their priorities going forward?

Here are some of the highlights:

  • The majority (64%) of small business owners start with less than $10,000.
  • Three quarters (75%) of small business owners relied on their own personal savings to get started.
  • Two-thirds (68%) of small-business owners say that the first year in business is the toughest.
  • The number one regret of small business owners looking back on the first year is that they didn’t spend more time learning about financial management (68%).
  • The majority (57%) of small businesses require $50,000 or less in annual revenue to feel confident about their long-term health.

At Intuit, we’re committed to providing small businesses with tools and resources to make it easier than ever to find long-term success. For more insight on the infographic above, check out the e-book here.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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