FA Play

LONDON April 14 PRNewswire - - notonthehighstreetcoms Small Business Survey ProvidesFirst Comprehensive Insight Into This Thriving Small Business Sector An unprecedented in-depth small business survey conducted bynotonthehighstreetcom the on-line shopping website which supports over 700of the UKs most innovative small businesses puts Gordon Brown seriouslyunder the political spotlight and gives the most detailed insight into femaleentrepreneurs and their concerns today Among the revelations - David Camerons Conservative Party is voted best for smallBusinesses - Gordon Brown is considered not to place a high value on smallbusinesses or the role they play in the UK economy - The Government is heavily criticised for not encouraging women inparticular to set up businesses on their own - Call for easily available start-up and early stage grants - Richard Branson and Anita Roddick named most inspirationalentrepreneurs - Gender makes no difference to becoming a successful entrepreneur - Friends and family greatest source of small business advice - Money worries are the most stressful and challenging aspect ofrunning a small business - Lack of finance time and e-commerce knowledge greatest obstaclesto selling products - Internet boom drives small businesses but their lack ofe-marketing knowledge is exposed Holly Tucker and Sophie Cornish founders of notonthehighstreetcom whoconducted the survey to co-incide with the companys second anniversary thismonth said Notonthehighstreetcoms research the first of its kind hasidentified and defined the new breed of Mumpreneurs in Britain a third ofwhom say that the internet has totally affected their business and that theywould never have gone into business without it This is a vibrant creativegroup who are confident determined and successful but as yet unheardSeventy two per cent of those surveyed told us that they believenotonthehighstreetcom has an important role to play in representing them toGovernment and the media so we are starting today by expressing theircollective views and concerns Among the major findings of the notonthehiighstreetcom survey 1 POLITICS David Camerons Conservative Party is considered best for small businessand Tony Blairs Labour Party better than Gordon Browns When asked which Government of the most recent possibilities do theybelieve iswaswould be best for small business notonthehighstreetcomssurvey revealed David Camerons Conservative Party 411 Tony Blairs Labour Party 255 Gordon Browns Labour Party 190 Nick Gleggs Liberal Democrats Party 144 Less than six per cent say Gordon Brown places a high value on the roleof small businesses in the UK economy High value 57 Low value 536 Medium value 407 Very few say Gordon Brown has high understanding of small businesses When asked to rate Gordons Browns understanding of small businessesthe results were High 46 Average 483 Low 369 None - he shows no understanding whatsoever 103 Governments position within the small business community rated badly When asked how well they think the Government is positioned at the momentwithin the small business community only 15 per cent said they think theGovernment is doing very well and are at the heart of it and feel wellsupported by a Government who understands their needs Other responses werenot well - despite well-publicised claims I see no signof them making a positive difference to small businesses 418 getting better - lately have improved their efforts 171 badly - they are too removed from the realities of runninga small business to give any proper support 160 hopelessly - Government policies only make running mybusiness more difficult 99 Government must do more to encourage women to set up on their own 847 per cent of those surveyed believe that the government does notencourage women to set up on their own In addition when asked in what ways is the Government supportive ofwomen in business the results were revealing No ways whatsoever 498 Tax breaks for working parents 192 Business advice 184 Training 142 Childcare 115 Financial backing 34 Gender does not make a difference to becoming a better entrepreneur Interestingly when asked if women make better entrepreneurs aresounding 835 per cent said that they dont think gender makes anydifference Call for easily available start-up and early stage grants When asked if there was one thing the Government could do to supportsmall businesses the priorities were Easily available start-up and early stage grants 316 Legal and accounting support at no or low cost 266 Better tax breaks 236 Automatic easy access to qualified mentors andimpartial advice 114 Significantly reduced legislation 68 2 MOST INSPIRATIONAL UK BUSINESSMEN AND WOMEN Richard Branson and Anita Roddick are considered to be the mostinspirational UK entrepreneurs Top six most inspirational UK businessmen Richard Branson Virgin 407 Johnnie Boden Boden 194 Terence Conran Conran 178 Tim Smit Eden Project 166 James Dyson Dyson 107 Alan Sugar Amstrad 83 Top six most inspirational UK businesswomen Anita Roddick Body Shop 526 Holly Tucker and Sophie Cornish notonthehighstreetcom 300 Chrissie Rucker White Company 154 Anya Hindmarch Anya Hindmarch 79 Natalie Massenet Net a Porter 67 Stella McCartney Stella McCartney 59 3 FUNDING AND FINANCIAL CONCERNS Over 80 per cent 819 per cent have NEVER applied for a Governmentgrant When asked why this was the case they said They never thought of it or were not aware they might qualify 455 They were unable to find good advice on the subject 312 They had heard it was so difficult to get grants that they didntbother applying 241 The amounts available are too small to warrant the time it wouldtake to apply 128 They started applying but it was so time consuming andcomplicated they had to give up 121 Of the 181 per cent who have applied for a Government grant for theirbusiness 689 per cent were successful but payments were not high 372 percent received between GBP1001 and GBP3000 256 per cent between GBP251 andGBP1000 and 233 per cent between GBP3001 and GBP5000 Despite this 49per cent of those who received a grant say that they would apply for oneagain Personal savings are most popular funding method followed by family loans Personal savings 623 Loans from family 313 Business Bank Loans 153 Personal Bank Loans 107 Worryingly completely unprompted several small businesses said theyrelied on credit cards as their most popular funding method Almost half 495 per cent say their greatest financial concern is notbeing able to draw a salary for longer than expected Another concern was that the company would run out of money and go bust256 per cent Interestingly 153 per cent say that they dont really haveany financial concerns 4 ADVICE SUPPORT AND GREATEST CHALLENGES Friends and family are greatest source of small business advice When asked where they go for small business advice respondents said Friends and family 569 Business Link 406 Networking and business support organisations 352 I go on instinct 153 Banks 100 When it comes to training 495 per cent said they had no relevanttraining or degree in order to start their business Money worries are the most stressful and challenging aspect of running asmall business while winning and keeping the support of spousepartner is theleast stressful Almost one third 321 per cent say money worries whether for thecompany or the family have been extremely stressful and challenging whenrunning their business This is followed by Juggling all the different demands that startingmy own business has placed on me 230 Concerns about how children will cope ifwhen theycannot give them the time they feel they need 188 Being unable to take any time off - let alonea holiday 159 Practical childcare concerns 156 Tiredness and lack of sleep 120 Managing any fear of failure or lack of personal confidence 92 Maintaining relationships with friends 78 Winning and keeping the support of a spousepartner 54 A large proportion of small businesses work with their family and friendsbecause they trust them but also for financial reasons Of those surveyed 546 per cent are family-run businesses 17 per centrun the business with their partner or spouse while 83 are friends who runtheir business together Reasons sited for working with family or friends are They can completely trust them 629 They enjoy working with them 629 Financial reasons as they cannot afford employees on the open market 488 They can share the stress or pain if they need to 486 Lack of finance time and e-commerce knowledge greatest obstacles toselling products When asked to site the greatest obstacle they face when selling theirproducts small businesses report Lack of finance to promote their business themselvesthroughout the year 382 Lack of time to promoted their business themselvesthroughout the year 377 Lack of e-commerce knowledge and their inability topromote their website sufficiently to catch shoppers attention 163 Lack of creativity ideas and design knowledge 59 Lack of finance explains why small businesses marketing budgets areextremely low Annual marketing budget under GBP1000 599 Annual marketing budget of GBP1001 0 GBP5000 246 Internet boom drives small businesses but lack of e-marketing knowledgeexposed While 331 per cent of small businesses say that the internet boom hastotally affected their business and that they would have never have gone intobusiness without it coupled with 27 per cent agreeing that the internet boomhas affected their business a great deal as it has transformed the way theydo business small businesses knowledge of online marketing is extremelylimited by their own admission as they reveal No knowledge at all of banners skyscrapers and buttons 371 No knowledge at all of affiliate marketing programmes 41 Knowledge of pay per click advertising is weak 293 Knowledge of search engine optimisation is weak 279 Excellent knowledge of e-mail customer communication 107 5 MOTIVATIONS AND AMBITIONS Almost three quarters of respondents 749 per cent were motivated toset up their business as they wanted to work for themselves Others reasons given were They have an enterprising spirit 522 They wanted to do something much more creative 522 They wanted to work at home after having children 375 They spotted a gap in the market 33 They turned a hobby into a business 326 Didnt want to work for a large corporation 296 Wanted a career change 206 Confident ambitious and running businesses with a conscience When asked how confident they were about setting up their businessrespondents replied Reasonably confident that with luck and hard work I would succeed 478 Very confident as I knew I had hit on a great idea and had relevantskills 179 Nervous at first but people reacted so positively I just had to do it151 Extremely confident - I always succeed 34 When asked about their primary ambition for their business they said Grow significantly increasing turnover andor the size of the team 338 To run a very small company that they can be proud of their ownCreativity and talent 209 To earn a moderate income with a small team 179 To become a famous brand and build a household name 133 Almost three quarters 711 per cent want to export overseas with only289 per cent opting to remain a UK only company A large proportion also run their businesses with a conscience Whenasked if they can claim any ethical community or fair trade values for theirbusiness or products responses were as follows Eco friendly 302 Recycled or reclaimed 296 Ethical 271 Fair Trade 155 Note to Editors Holly Tucker and Sophie Cornish founders of notonthehighstreetcom areavailable for interview Facts about Notonthehighstreetcoms survey recipients 317 small businesses from across Britain took part in the survey whichwas conducted in March 2008 by notonthehighstreetcom with a representativesample of businesses across the UK 911 per cent of the businesses are run by women 567 per cent havechildren under the age of 18 534 per cent are aged between 30 and 40 291 per cent between 41 and 50and 105 per cent between 18 and 29 595 per cent operate their business in a dedicated home office orworkshop 211 per cent at home around their kitchen table and 194 per centat an office away from home 663 per cent are sole traders 23 per cent limited companies and 93 percent partnerships 251 per cent of respondents have been running their business between oneand two years 203 per cent between two and three years 155 per centbetween three and four years 76 per cent between four and five years and172 per cent over five years 28 per cent are either in their pre-launchphase or have been running for under 3 months 368 per cent have a turnover of between GBP10000 and GBP50000 168per cent between GBP1000 and GBP5000 158 per cent between GBP50000 andGBP250000 117 per cent under GBP1000 and 41 per cent between GBP250000and GBP1 million Background on Notonthehighstreetcom Launched in April 2006 by founders Holly Tucker and Sophie CornishNotonthehighstreetcom now brings over seven hundred independent small UKbusinesses together to sell over 20000 products through one checkoutThousands of products are available to buy from a choice of nine categoriesfood drink home garden fashion jewellery health beauty weddings parties gifts baby child cards wrap Notonthehighstreetcom has enjoyed rapid success Six months after itlaunched it was named a top 50 e-boutique by The Independent In 2007 itbecame the London winner of the Grazia 02 awards a London regional finalistof HSBCs small business awards and MSNs Best Shopping Website HollyTucker and Sophie Cornish were also named by Marie Claire as two of 23 UKbusinesswomen shaping the future of Britain Among the unique features of notonthehighstreetcom each small businessor designer represented has its own URL and homepage so that shoppers canread background information about them and their latest news and productsPartners are in control of the products they put on the site and selldirectly to the shopper In effect they have their own mini website under thenotonthehighstreetcom umbrella and avoid having to take care of their owne-commerce and marketing as this is done for themwwwnotonthehighstreetcom