Hiscox eDNA 2013: Small Businesses and the U.S. Economy

September 12, 2013

Note: To see the most up to date DNA of an Entrepreneur information check out our 2017 DNA of an Entrepreneur Report.

Small business and the U.S. economy

The 2013 Hiscox eDNA small business survey highlights the triumphs and challenges of the American entrepreneur.

Today we revealed the US results of the 5th annual Hiscox DNA of an Entrepreneur survey.  We surveyed 500 US small business owners and got their sentiments on their companies, the overall business environment and what factors will influence their business in the coming year. The whole report is interesting, but there are a couple of areas that really stood out for US small business.

Government does not support small business

Nearly two-thirds of both men and women (62% and 63%, respectively) indicated that the U.S. taxation system does not favor those seeking to set up their own business. Both men and women also agreed (64% and 61%, respectively) that government bureaucracy is a major barrier to setting up a small business in the U.S. Interestingly, this sentiment has grown for women since 2011, up from 54%. Politicians continue to talk about supporting small businesses, but the results indicate not much is actually being done to help them.

More women are embracing social media

Women are more likely than men to use social media in nearly all aspects of their business operations. In particular, women reported utilizing social media tools for keeping in touch with customers (45%), as well as for communications, marketing or public relations initiatives (41%). Hiring/recruitment is the only area of operation where men are more likely to use social media than their female counterparts (18% and 7%, respectively).

More to come...

These two areas stood out the most, but there’s a lot more interesting data from this year’s report that we’ll dig into in future blog posts. Do the results of this survey match up with your experiences as a small business owner?