A survey of small businesses by Staples reveals 3 in 4 owners who are struggling or failing say not being organized has affected the productivity level of their companies.
The survey looked at how disorganization, tax preparation, and marketing is affecting struggling and successful small businesses.
How Being Disorganized Leads to Productivity Loss
The challenges businesses face is exacerbated when there is confusion within the company, which negatively affects different departments and eventually the company as a whole. For small businesses with limited resources, it means spending more time and money to remedy problems which start out small but soon grow out of control.
Having the tools and resources to get organized is key, which is what Michelle Bottomley, chief marketing officer for Staples, said in the press release. Bottomley added, “When small business owners feel they have the necessary tools, support and assets to thrive, they’re able to devote more time and attention to what they’re passionate about — providing their customers and clients with exceptional goods and services.”
The survey was designed by Staples and carried out online by Critical Mix. A total of 503 US small business owners (with up to 25 full-time employees) took part in the survey from December 26 to December 28, 2017
Insights From the Survey
When it comes to businesses that were thriving/surviving, 53 percent of them said their workplaces were very organized, but only 23 percent of the struggling/failing small business owners said the same. As for the impact of productivity in the workplace, 1 in 3 business owners believes disorganization makes them less productive.
With tax time fast approaching, businesses will be facing some challenges as they try to navigate the new changes to the tax code. And the survey says more than half of small business owners see tax preparations as being complicated, but almost half of them do their own taxes. When it came to preparing taxes, 2 in 5 respondents felt leaving this task until the last minute was a bad idea responsible for causing complications.
The data for advertising pointed out thriving businesses used different types of marketing with 63 percent saying social media marketing was their choice, 59 percent saying they used online marketing and 46 percent opting for print marketing. However, 50 percent of respondents admit they do not know how to reach new prospective customers on their own, and one third find designing effective marketing materials for their business challenging.
Even with these challenges, the survey reports more than 86 percent of small business owners are optimistic about the future, and 4 in 5 acknowledged their businesses are thriving or surviving in the new year.
Photo via Shutterstock
This article, “75% of Struggling Small Business Owners Believe Being Disorganized Leads to Productivity Loss” was first published on Small Business Trends