Deluxe Corp. (DLX) unveiled Thursday results of a small business survey of more than 500 social-media-savvy entrepreneurs, revealing most started their businesses as a result of personal passion.
Continue Reading Below
The growth engine for small businesses used PartnerUp, the first online social network for small business owners and entrepreneurs, to survey a growing demographic of social media savvy self-starters.
About 75% were motivated to start their own business to pursue a personal endeavor, while only 10% started a business after losing employment elsewhere.
Small business owners are also focused on being their own boss, according to the survey. A third of those surveyed started their business while working in another job, and 63% reported they would not take a job elsewhere if offered one. More than two-thirds of the respondents are currently raising families.
Of the challenges small business owners said they face in today’s economy, using effective marketing was the most common. Nearly half, 49%, claimed reaching customers with limited resources was most difficult, while only 19% pointed to managing costs, and 12% to securing credit.
Despite these challenges, the survey hinted the social-media-savvy group may be more optimistic than the broader small business community; 83% said they plan to use social channels to boost business in the coming year.