FedEx Small Business Survey

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FedExSmall Business Survey

• Contact Howard Clabo
• FedEx Spokesperson
• T 901-434-7786
• c 901-508-2081
• howard.clabo_at_fedex.com

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Methodology

• National telephone omnibus survey of 1,000
  Americans 18 years and older
  
• Survey conducted October 17-20, 2003
• Results are representative of and projectable to
  the US adult population
  
• 102 (10 of total) respondents reported already
  owning their own business
  
• Margin of error /- 4

Telephone interviews and data collection
conducted by Opinion Research Corporation
International
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Detailed Findings
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Dreams of Starting a Business

• More than half (56) of all Americans dream of
  starting their own business.
  
• 10 have already realized the American Dream
  and own their own company.

Q Have you ever dreamed of starting your own
business?
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Dreamers vs. Owners

• Dreamers and Business Owners are similar
• More men than women are likely both to dream of
  starting a business (55) and to actually do it
  (65).
  
• Dreamers and Owners are likely to be between the
  ages of 25 and 54, but
  
• Dreamers are younger between 25 and 44
• Owners are slightly older between 35 and 54

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Dreamers vs. Owners

• Key differences between Dreamers and Owners do
  exist
  
• Dreamers are typically married with children
  (47), but Owners tend to be married with no
  children (48).
  
• Nine out of 10 Business Owners are white
  however, African-Americans are more likely than
  white Americans to dream of starting their own
  business (76 vs. 53).
• Business Owners are more likely to live in the
  Southern (32) and Western (27) regions of the
  U.S. Dreamers, however, transcend geographic
  regions.

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Willingness to Leave Current Job

• The same group of Americans who dream about
  starting their own businesses would also leave
  their current jobs to pursue self-employment if
  money or other resources were readily available.
  
• 56 of Americans say they would consider leaving
  their jobs to start their own companies

Q If money or other resources werent an issue,
would you consider leaving your current job to
start your own business? Business Owners were n
ot asked this question.
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Reasons for Starting a Business

• Many Americans (39) dream of starting their own
  business so they can do something they love or
  enjoy (e.g. a hobby).
  
• Secondarily, men (20) are more likely than women
  (13) to say To be your own boss
  
• Women (20) are more likely than men (13) to
  want work/family flexibility
  

Q People often give the following reasons for
wanting to start their business. Which ONE
appeals MOST to YOU?
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Challenges of Starting a Business

• Nearly one-third of Americans (29) said that
  managing some aspect of the supply chain would be
  the biggest challenge to starting a company.

6 point discrepancy indicates that Business
Owners know first-hand that getting products to
customers on time is critical, yet challenging,
for a new business.
Q People often say the following are the biggest
hurdles to getting a business off the ground.
Which ONE do YOU think would be the MOST
DIFFICULT to do?
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Challenges of Starting a Business

• But not all Americans think similarly about the
  same business hurdles, for example
  
• 18-34 year-olds (44) are more likely than people
  age 35-54 (31) to think marketing and
  publicizing ones business is the biggest hurdle
  to starting a business.
• Those age 35-54 (29), however, are more likely
  to believe making actual sales is the biggest
  hurdle. Secondarily, this group believes dealing
  with customs and international shipping
  regulations is the most challenging aspect (22)
• Men (11) are more likely than women (6) to
  think that getting products to customers on time
  is the biggest hurdle.
  
• Americans in the North Central and Southern
  regions of the U.S. are more likely than those in
  other regions to view customs and shipping
  regulations as the most challenging hurdles
  (19)

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Success Factors for Business Owners

• The top three key factors for success as defined
  by Business Owners are
  
• Providing good customer service
• Managing operational costs
• Delivering products to customers on time

Only Business Owners were asked this question.
Q As a business owner, what do you consider to
be the BIGGEST FACTORS OF SUCCESS for small
business owners?
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FedExSmall Business Survey