A new survey has found that most (59%) small business owners find it harder to run their business than they did five years ago.
The Small Businesses: Then and Now Survey, by Constant Contact, found that the economy and technology trends have made it more difficult to run a small business. More than half (55%) said the economy has hit their business hard, 49% said it’s hard to keep pace with technology, and 40% said there’s more direct competition than five years ago.
Despite all these worries, 72% of respondents said they expect their 2013 revenues to outperform last year’s.
When asked about the biggest changes in running their business compared to five years ago, 84% said they are using more online marketing tools, 59% said there is more economic uncertainty, and 27% said they are using more automated business solutions.
The use of social media marketing has also exploded; 87% of small businesses use social media to market their business today, compared to just 10% five years ago.