What do small-business owners want?

Small businesses contribute a great deal to the U.S. economy, and entrepreneurs are always looking for simplified solutions to ensure their companies run smoothly. However, it seems that few groups consider what small-business owners want or how their lives could be made easier. A new survey from the National Federation of Independent Businesses (NFIB) determined what small-business owners are seeking and what they think can help their companies succeed. However, this may indicate a broader small enterprise trend that marks the need for company owners to have more individualized options, whether it comes to their small business banking, purchasing strategies or even their taxes. 

Simplified taxes would be preferred 
The NFIB survey revealed entrepreneurs seek a simplified tax code with lower rates and hope for limited government spending with a balanced federal budget. More than 90 percent of small-company owners surveyed are hesitant to prepare their own taxes because of complicated regulations and pay professionals to file for them. Eighty-five percent think the tax code is overly complex and needs to be revised, and 52 percent believe a simplified tax code should be a top priority. 

Concerns over federal spending prevalent 
According to the survey, few business leaders believed higher tax rates should be responsible for eliminating the national debt. Rather, 81 percent believe government spending cuts should take priority over tax hikes to reduce the deficit. 

Data also showed few business owners are confident new taxes could boost the struggling economy. Sixty-seven percent who know what carbon taxes are oppose them, while 58 percent of those knowledgeable about the national sales tax are against instituting one. 

Seeking easy solutions 
As the data indicates, entrepreneurs are seeking simpler solutions to taxes and government spending, but they're also likely looking for easy and more personal solutions for other aspects of their companies. Banking solutions, which can often get quite complex for many businesses, could be one of these areas in which company owners could seek more innovative and new solutions. 

Small-business owners often need more personalized and simple approaches when it comes to both business financing and general cash management options. Larger banks, which often can't change options for smaller entrepreneurs, may fail to offer a business the special solutions it needs, which could make small- or mid-sized local banks a better choice for company owners looking for the best banking options. 

Content presented by Bridge Bank, offering flexible, customized solutions for entrepreneurs.

Getting Started

Find your ideal banker:

Select any filter and click on Apply to see results

Featured Insights

Networking is a necessary element for any startup seeking financing. And while...

Many startups choose to develop mobile apps, and this number continues to...

Business leaders need to understand their exposure to foreign exchange (FX) volatility and the risk it presents to...

The San Francisco Bay area has long been a hub for startups seeking funding and...

As one of the country's largest landowners, the federal government is in a...

The rise of trackers and monitoring devices coupled with the interconnectivity...

Launching a brand-new business into the market is always an exhilarating, yet...

Some founders and CEOs of fledgling startups may end up making the mistake of...

Since its inception in the mid-1900s, venture capital investment has grown from...

Once and awhile, something comes along that captures the imagination and...

Recent News

09/29/16
Our New Jersey-based client Tabula Rasa HealthCare Inc. (TRHC), a healthcare tech...
09/14/16
This week, our client Sensity Systems, the established industry leader in Light...
09/07/16
SAN JOSE, CA – September 7, 2016 – Bridge Bank today announced the hiring of Michael...
08/23/16
SAN FRANCISCO, CA – August 23, 2016 – Bridge Bank today announced the hiring of...
08/10/16
Atlanta-based software company selects Bridge Bank for its technology industry...
08/08/16
MENLO PARK, Calif. - August 8, 2016 - Bridge Bank’s Equity Fund Resources Group (EFR...
08/02/16
San Jose, CA — August 3, 2016 — Bridge Bank today announced the hiring of Victor Le...
07/25/16
Durham, NC -- July 25, 2016 -- Bridge Bank’s Life Sciences Group (LSG) today...
07/21/16
San Francisco, CA -- July 21, 2016 -- Bridge Bank’s Life Sciences Group (LSG) today...
07/01/16
MONMOUTH JUNCTION, N.J, July 1, 2016 - CytoSorbents Corporation (NASDAQ: CTSO), a...

Twitter

Featured Insights

Featured Insight

Business leaders need to understand their exposure to foreign exchange (FX) volatility and the risk it presents to...

Featured Insight

Success in the world of biotechnology and life sciences requires a level of patience that is foreign to most types...

Featured Insight

Valuations in the venture capital (VC) market are either in decline or flattening out, primarily due to inflated...

Recent News

Networking is a necessary element for any startup seeking financing. And while...

Many startups choose to develop mobile apps, and this number continues to...

The San Francisco Bay area has long been a hub for startups seeking funding and...

Twitter