Today there are nearly 20 million small and home-based businesses in the United States, and the number is growing rapidly.
We define a Small Business as one with 50 or fewer employees and annual revenues under $20 million. Using this definition, there are approximately 20 million such businesses in the US today — 55% small and 45% home-based.
The technological revolution and a rising ethos for entrepreneurship were key drivers of growth in the past decade. Recently, the economic downturn and massive layoffs are helping the growth of the small business segment.
Fortunately, 500 companies such as Intel, Dell, MasterCard, and Xerox have broadened their scope to develop products targeting this lucrative segment of businesses.
A good understanding of Small Business needs and purchasing behavior is a prerequisite for the development of successful marketing strategies for the Small Business market.
In order to provide Small Business marketers with the intelligence they need, TechnoMetrica has developed an invaluable resource: TechnoBiz.
TechnoBiz is a collection of 6,000 small and home-based businesses assembled for gathering critical market information. The panel members have agreed to participate in research studies and share their valuable opinions. All panelists are key decision-makers of the company: owners, presidents or vice presidents.
Using TechnoBiz, our experienced interviewers conduct the monthly telephone omnibus. Data collection takes place over a two to three week period. The sample size for each survey is 1,000 businesses. Included in the sample are the following segments:
Small businesses: n=550 (margin of error +/- 4 percentage points)
Home-based businesses: n=450 (+/- 5 percentage points)