|
|
ONLINE FEATURES
Book Reviews
BW Video
Columnists
Interactive Gallery
Newsletters
Past Covers
Philanthropy
Podcasts
Special Reports
BLOGS
Auto Beat
Bangalore Tigers
Blogspotting
Brand New Day
Byte of the Apple
Economics Unbound
Eye on Asia
Fine On Media
Green Biz
Hot Property
Investing Insights
Management IQ
NEXT: Innovation
NussbaumOnDesign
Tech Beat
Working Parents
TECHNOLOGY
J.D. Power Ratings
Product Reviews
Tech Stats
Wildstrom: Tech Maven
AUTOS
Home Page
Auto Reviews
Classic Cars
Car Care & Safety
Hybrids
INNOVATION
& DESIGN Home Page Architecture Brand Equity Auto Design Game Room SMALLBIZ Smart Answers Success Stories Today's Tip INVESTING Investing: Europe Annual Reports BW 50 S&P Picks & Pans Stock Screeners Free S&P Stock Report SCOREBOARDS Hot Growth 100 Mutual Funds Info Tech 100 S&P 500 B-SCHOOLS Undergrad Programs MBA Blogs MBA Profiles MBA Rankings Who's Hiring Grads | | OCTOBER 16, 2002 IN BOX New Tacks for Tough Times Thanks to the Internet's ability to broaden sales, a new survey finds small-business owners surprisingly positive about the future
Those upbeat findings can't be dismissed as mere wishful thinking. When the survey, sponsored by Thomas Regional Directory and MasterCard, asked respondents to explain their optimism, the most common response was an evolving faith and focus on ways in which the Internet allows entrepreneurs to define and exploit fresh opportunities. Some 29% of respondents running businesses with six or fewer employees reported that they had established online sales operations, with 40% reporting increased Web sales, vs. the previous 12 months. NEW DIRECTIONS. That's not to say tech is seen as an automatic salvation. Business owners were frank in admitting that adjusting to the gloomy economic climate would require changes in strategy. For 54%, the primary goal in 2003 will be preserving profits by keeping costs down. The only difference of opinion concerned the best way to boost revenues: 56% planned to weather the economic turbulence by the simple expedient of increasing existing sales and 44% planned to concentrate on opening fresh markets. The most striking trend, however, is the way in which business owners regard the Internet as the primary means of finding new customers and providing better service to existing ones. Some 80% already buy goods and services online, citing shorter delays to delivery (57%), convenience (56%), and savings (32%) as the greatest advantages. "The Internet has proven to be a lifeline for industrial small businesses, allowing them to reach new audiences in a cost-effective manner," says Eileen Markowitz, Thomas' president. "As more products and services become available online in the coming year, we expect to see an increase in online activity, not only in sourcing information, but in e-commerce and requests for custom work."  By Roger Franklin in New York Get BusinessWeek directly on your desktop with our RSS feeds.  Add BusinessWeek news to your Web site with our headline feed. Click to buy an e-print or reprint of a BusinessWeek or BusinessWeek Online story or video. To subscribe online to BusinessWeek magazine, please click here. Learn more, go to the BusinessWeekOnline home page  | | OCTOBER |
 Copyright 2002, by The McGraw-Hill Companies Inc. All rights reserved.Terms of Use | Privacy Policy |
Printer-Friendly Version
