Biggest Opportunities for Small and Medium Enterprises (SMEs)
Biggest opportunities for small and medium enterprises (SMEs) in 2016 Survey report USA October, 2016
Table of Contents Biggest opportunities for small and medium enterprises in 2016 Survey Report USA
Project design
P. 3
Results
Summary Year-on-year comparison Comparison to countries of the same region
P. 7
© Zurich Insurance Company Ltd
Sample composition
P. 4 P. 5 P. 6
2
Project Design Biggest opportunities for small and medium enterprises in 2016 Survey Report USA
Method
Target Group Small and Medium Enterprises (up to 250 full-time employees)
CEO/Owner, GM, CFO/Treasurer, COO/Head of Operations Telephone Interviews (CATI) Average length: 6 minutes
Sample structure
Indication of a trend in 2016
© Zurich Insurance Company Ltd
2016 score is significantly higher vs. 2015
2016 score is significantly lower vs. 2015 200 interviews, representative in terms of enterprise size (# of full-time employees) and industry
3
SMEs in the USA consider “Cost and expense reduction” as the most promising business opportunity Biggest opportunities for small and medium enterprises in 2016 Results: Summary
Survey Report USA
• “Cost and expense reduction” (43.5%) perceived as the most promising business opportunity in the USA • “New customer segments” (35.5%) and “New sales channels” (33% )evaluated as 2nd and 3rd most relevant business opportunities
© Zurich Insurance Company Ltd
• Compared to the 3 key opportunities, all other criteria perceived as considerably less decisive
4
“Cost and expense reduction” perceived as most decisive business opportunity Biggest opportunities for small and medium enterprises in 2016 Results: Year-on-year comparison
Survey Report USA
© Zurich Insurance Company Ltd
Statistics in % 2016
2015
Diversification of product range or services
13.0
14.5
New sales channels (e.g. Web-trading)
33.0
25.0
New customer segments
35.5
28.0
Acquisition of competitors
11.0
9.0
Expansion to foreign markets
13.0
16.0
Attractive credit terms
7.0
7.0
Improve the employees’ pool
6.0
5.5
Regulatory / legislation change
13.0
14.0
Cost and expense reduction
43.5
39.5
New business technologies (e.g. mobile / tablet computing)
12.5
9.0
2.5
5.5
I don't foresee any opportunities for my business at present
0
10
20 2016 (n=200)
30 2015 (n=200)
40
2016 score is significantly higher vs. 2015 . 2016 score is significantly lower vs. 2015
Q2: Which of the following do you view as the biggest opportunities for your business at present? Please select up to three answers. Base: n=200 5
“Cost and expense reduction”, “New customer segments” and “New sales channels” are most promising opportunities Biggest opportunities for small and medium enterprises in 2016 Results: Comparison to countries of the same region Note: A fair country comparison needs to consider both the chart on the left (bubbles) and the chart on the right (ranks).
Survey Report USA
Statistics in %
Ranks
© Zurich Insurance Company Ltd
USA
Diversification of product range or services
13
4
New sales channels (e.g. Web-trading)
33
3
New customer segments
36
2
Acquisition of competitors
11
8
Expansion to foreign markets
13
5
Attractive credit terms
7
9
Improve the employees’ pool
6
10
Regulatory / legislation change
13
6
Cost and expense reduction
44
1
New business technologies (eg mobile / tablet computing)
13
7
I don’t foresee any opportunities for my business at present
3
11
0–15%
16–30%
31%+
Q2: Which of the following do you view as the biggest opportunities for your business at present? Please select up to three answers. Base: n=200 6
Sample Composition 1/2 Biggest opportunities for small and medium enterprises in 2016 Function and full-time employees
Survey Report USA
Statistics in % North America
Function
USA
CEO/Owner
39.0
CFO/Treasurer
11.0
COO/Head of operations
12.0
General Manager
38.0
© Zurich Insurance Company Ltd
Full-time employees 0 employees
1.5
1 to 9 employees
33.5
10 to 19 employees
28.0
20 to 49 employees
12.0
50 to 99 employees
11.0
100 to 250 employees
14.0
7
Sample Composition 2/2 Biggest opportunities for small and medium enterprises in 2016 Revenue and Industry
Survey Report USA
Statistics in % North America
Revenue*
USA
Up to 2 Million EUR
28.0
More than 2 to 5 Million EUR
19.0
More than 5 to 10 Million EUR
8.5
More than 10 to 50 Million EUR
6.5
More than 50 Million EUR
1.0
© Zurich Insurance Company Ltd
Industry Agriculture
3.0
Manufacturing and construction
18.0
Wholesale and retail trade
20.0
Information and communication
8.0
Financial activities (including insurance)
12.0
Administrative and support service
2.0
Public administration
2.0
Transport and storage
10.0
Accommodation and food service
11.0
Consumer services
5.0
Other service activities
9.0
*Figures don’t sum up to 100% due to “DK / No Answer”
8
Table of Contents Biggest opportunities for small and medium enterprises in 2016 Survey Report USA
Project design
P. 3
Results
Summary Year-on-year comparison Comparison to countries of the same region
P. 7
© Zurich Insurance Company Ltd
Sample composition
P. 4 P. 5 P. 6
2
Project Design Biggest opportunities for small and medium enterprises in 2016 Survey Report USA
Method
Target Group Small and Medium Enterprises (up to 250 full-time employees)
CEO/Owner, GM, CFO/Treasurer, COO/Head of Operations Telephone Interviews (CATI) Average length: 6 minutes
Sample structure
Indication of a trend in 2016
© Zurich Insurance Company Ltd
2016 score is significantly higher vs. 2015
2016 score is significantly lower vs. 2015 200 interviews, representative in terms of enterprise size (# of full-time employees) and industry
3
SMEs in the USA consider “Cost and expense reduction” as the most promising business opportunity Biggest opportunities for small and medium enterprises in 2016 Results: Summary
Survey Report USA
• “Cost and expense reduction” (43.5%) perceived as the most promising business opportunity in the USA • “New customer segments” (35.5%) and “New sales channels” (33% )evaluated as 2nd and 3rd most relevant business opportunities
© Zurich Insurance Company Ltd
• Compared to the 3 key opportunities, all other criteria perceived as considerably less decisive
4
“Cost and expense reduction” perceived as most decisive business opportunity Biggest opportunities for small and medium enterprises in 2016 Results: Year-on-year comparison
Survey Report USA
© Zurich Insurance Company Ltd
Statistics in % 2016
2015
Diversification of product range or services
13.0
14.5
New sales channels (e.g. Web-trading)
33.0
25.0
New customer segments
35.5
28.0
Acquisition of competitors
11.0
9.0
Expansion to foreign markets
13.0
16.0
Attractive credit terms
7.0
7.0
Improve the employees’ pool
6.0
5.5
Regulatory / legislation change
13.0
14.0
Cost and expense reduction
43.5
39.5
New business technologies (e.g. mobile / tablet computing)
12.5
9.0
2.5
5.5
I don't foresee any opportunities for my business at present
0
10
20 2016 (n=200)
30 2015 (n=200)
40
2016 score is significantly higher vs. 2015 . 2016 score is significantly lower vs. 2015
Q2: Which of the following do you view as the biggest opportunities for your business at present? Please select up to three answers. Base: n=200 5
“Cost and expense reduction”, “New customer segments” and “New sales channels” are most promising opportunities Biggest opportunities for small and medium enterprises in 2016 Results: Comparison to countries of the same region Note: A fair country comparison needs to consider both the chart on the left (bubbles) and the chart on the right (ranks).
Survey Report USA
Statistics in %
Ranks
© Zurich Insurance Company Ltd
USA
Diversification of product range or services
13
4
New sales channels (e.g. Web-trading)
33
3
New customer segments
36
2
Acquisition of competitors
11
8
Expansion to foreign markets
13
5
Attractive credit terms
7
9
Improve the employees’ pool
6
10
Regulatory / legislation change
13
6
Cost and expense reduction
44
1
New business technologies (eg mobile / tablet computing)
13
7
I don’t foresee any opportunities for my business at present
3
11
0–15%
16–30%
31%+
Q2: Which of the following do you view as the biggest opportunities for your business at present? Please select up to three answers. Base: n=200 6
Sample Composition 1/2 Biggest opportunities for small and medium enterprises in 2016 Function and full-time employees
Survey Report USA
Statistics in % North America
Function
USA
CEO/Owner
39.0
CFO/Treasurer
11.0
COO/Head of operations
12.0
General Manager
38.0
© Zurich Insurance Company Ltd
Full-time employees 0 employees
1.5
1 to 9 employees
33.5
10 to 19 employees
28.0
20 to 49 employees
12.0
50 to 99 employees
11.0
100 to 250 employees
14.0
7
Sample Composition 2/2 Biggest opportunities for small and medium enterprises in 2016 Revenue and Industry
Survey Report USA
Statistics in % North America
Revenue*
USA
Up to 2 Million EUR
28.0
More than 2 to 5 Million EUR
19.0
More than 5 to 10 Million EUR
8.5
More than 10 to 50 Million EUR
6.5
More than 50 Million EUR
1.0
© Zurich Insurance Company Ltd
Industry Agriculture
3.0
Manufacturing and construction
18.0
Wholesale and retail trade
20.0
Information and communication
8.0
Financial activities (including insurance)
12.0
Administrative and support service
2.0
Public administration
2.0
Transport and storage
10.0
Accommodation and food service
11.0
Consumer services
5.0
Other service activities
9.0
*Figures don’t sum up to 100% due to “DK / No Answer”
8
