IRVINE, CA--(Marketwire - October 27, 2010) - Sage, a leading provider of business management software and services to small businesses worldwide, announced today the results of a survey among U.S. small businesses regarding their views about the upcoming midterm elections. The survey found that most small businesses do not think the government has done enough to address their concerns. In fact, among the 528 survey participants, only 7 percent believe that the government is doing enough to help small businesses.
An overwhelming 78 percent of survey participants reported that the current state of the economy has negatively impacted their business over the last six months. Many of these small businesses expressed uncertainty about when business conditions will improve; 77 percent are either unsure about when the economy will improve or don't expect any improvement in the economy within the next year.
"With continued concerns about the economy and uncertainty around recent legislation impacting the small business community, our survey results indicate loud and clear that small business owners want to be heard, and will be turning out in force in this election. 93% of our survey participants are planning to vote," said Connie Certusi, general manager, Sage Small Business Accounting. "What's also clear is that when voting, small businesses are more concerned about how candidates voted on recent legislation (61%), and who will best serve the small business community (52%), than they are about candidates' party affiliation (33%)."
While the small businesses who participated in the study welcome government initiatives to assist them, only 16 percent of the participants report having benefited from the American Recovery and Reinvestment Act of 2009.
Participants presented differing levels of awareness about recent legislation the government has enacted related to small businesses:
- 23% reported being familiar with the content of the Small Business Jobs Act recently signed into law. Among those familiar with the Act, only 27% feel it will be helpful
- The $33 billion tax incentive program ranked as the most helpful element of the Small Business Jobs Act, with 44% rating it as helpful, but most see the lending initiatives of the Act as being less helpful.
- 54% of small businesses are familiar with the content of the Health Care Bill passed in March 2010. Of those familiar with the Bill's content, 65% believe it will have a negative effect on their business.
- 75% are aware of the1099 Provision outlined in Section 9006 in the Health Care Bill that requires all businesses to issue a 1099 to every business from which they purchased more than $600 worth of goods or services throughout the year. 55% of small businesses said they make such purchases from more than 50 vendors, which could mean significant levels of paperwork for those businesses when this provision takes effect.
- Among businesses that accept credit/debit card payments, 42% completely understand PCI standards, 43% partially understand them, and 15% do not understand them at all. 54% believe the PCI standards help them run their business with less concern about card fraud and liability.
An executive summary of the survey and results are available here. Survey results are also available by region including: Northeast, Midwest, South Atlantic, South Central and the West. The survey was conducted among Sage customers in October 2010 and has a margin of error of +/- 4% with a confidence level of 95 percent.
About Sage North America
Sage North America is part of The Sage Group plc, a leading global supplier of business management software and services. Sage North America employs 4,000 people and supports 3.1 million small and midsized business customers. The Sage Group plc, formed in 1981, was floated on the London Stock Exchange in 1989 and now employs 13,100 people and supports 6.2 million customers worldwide. For more information, please visit the Web site at www.sagenorthamerica.com.
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