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Software-as-a-service provider Womply recently polled U.S. small business owners about the biggest threats to small and midsize businesses (SMBs) today and found natural disasters, such as earthquakes and hurricanes, ranked No. 4. The study, which polled 2,261 small business owners in all 50 states, indicated that threats to company revenue and the physical store are seen as most damaging, Womply stated.
The top three dangerous threats, respectively, were major damage from a flood, fire, etc.; a major slowdown in sales; and theft or robbery at the place of business. Coming in at No. 5 was legal action against the business.
“American small business owners fear large-scale events that would result in massive property damage or serious interruption of cash flow,” said Womply spokesman Brad Plothow. “Local, independent businesses can’t absorb huge costs as effectively as larger corporations, and revenue is always top of mind. These concerns shape how Main Street entrepreneurs perceive business threats.”
San Francisco-based Womply also provided other highlights from the survey. These include:
“Local commerce is a huge driver of economic value, so we need to understand how fragile the small business ecosystem really is,” Plothow said “For small business owners, their companies are their livelihoods. There’s much more we can do to protect the nation’s vital small business community against threats that could undermine them or, in some cases, force them to close forever.”
To learn more, visit http://www.womply.com.