COLUMBUS, OH and ROUND ROCK, TX -- (Marketwired) -- 04/22/14 -- A new study from Manta, the largest online community dedicated to small business, and Dell, a worldwide provider of innovative technology and business solutions, reveals that money is not the main driver for small business success. The joint research, which surveyed more than 3,000 members of Manta's small business community, found that personal achievement (37 percent) outranked financial stability (28 percent) as the top motivation behind becoming a successful business owner.
Recognition is a clear motivator for business owners with 29 percent reporting their proudest business moment was the first time their company received an award. Repeat business also proves to be a significant factor in the life of small business owner -- nearly four in ten (37 percent) entrepreneurs say their first repeat customer was the most important milestone for their business.
Behind the Scenes: The Role of Technology for Small Business
Many significant small business "firsts" and major milestones revolve around technology. Over half (53 percent) of small business owners' first technology investment was a desktop or laptop computer, outranking a printer, scanner or fax (13 percent) and smartphone (9 percent). Of the many accomplishments business owners achieve throughout their lifecycle, over half (54 percent) say launching their business website was their most significant technology milestone.
"Small businesses are a critical component of our economy and are the building blocks of business growth, which is why Dell is dedicated to providing entrepreneurs with support every step of the way," said Jennifer Warner, Director of Small Business Marketing at Dell. "By collaborating with Manta, a true expert in small business, we're able to fuel small business innovation by providing technologies that align with long-term goals of entrepreneurs."
Most Promising Technologies
When it comes to technologies that align with long-term goals, entrepreneurs believe that mobile and social technologies hold the most promise for their small business. More than four in ten (41 percent) believe new social media platforms will have the biggest impact on their business and nearly a third (32 percent) believe mobile technology will. Wearable technology isn't expected to have an impact on the small business community, as only four percent think technology like Google Glass will support their business needs.
One Step at a Time: Small Business "Firsts" and Milestones
When first inspired to start a business, the majority of those surveyed were either at their previous job (49 percent) or kitchen table (16 percent). According to the survey, networking ranked as the number one step that small businesses took when getting started.
However, networking as a first step is most common with businesses in technology and communications industries. Businesses in the public sector and healthcare are the most likely to sit down and write a business plan; while businesses focused on food and beverage and the industrial space are the most likely to get started by purchasing equipment like phones, computers and printers.
Would they do it again?
The majority (76 percent) of small business owners are open to starting another business and nearly three-quarters (74 percent) are dedicated to either expanding or maintaining a successful business.
"Manta is committed to helping business owners succeed -- regardless of whether they are just getting started or striving to reach a major business milestone," said John Swanciger, CEO of Manta. "We continue to collaborate with Dell to drive small business growth and success -- together, we're dedicated to providing true value to the small business community, supporting them with the tools and technologies they need for their businesses to thrive."
"Becoming an entrepreneur has always been a lifelong dream," said Carol Todorovich, owner of Healthy Café Creations. "I've experienced much success throughout my journey, but my first repeat customer was the biggest milestone as a small business owner; that repeat business gave me the confidence and hope that my business would thrive. Manta and Dell, both true advocates for small business, have helped me grow my business by establishing and increasing my online presence and supporting my technology needs."
Dell - The Power To Do More
Dell is presenting small business owners the opportunity to spotlight their company's humble beginnings and company story. For more information visit: http://thepowertodomore.com/
About the Manta-Dell Survey
Manta polled 3,025 small business owners between March 24, 2014 - March 27, 2014 via an online survey of Manta.com members. The margin of error is +/-1.78 percentage points. For more on the Manta-Dell Survey, please contact manta (at) highwirepr (dot) com. To access the full survey results, go to http://www.manta.com/press/pr/money-vs-happiness/.
Manta is the place for small business. Born as an online directory, we help businesses stand out, join forces and get smarter. Optimized for the mobile consumer, Manta has become the most highly trafficked destination to find great services and unique products from local businesses everywhere. Become one of the 30,000 business owners who will join Manta this month to get visible and gain one-on-one insights from other business owners at www.manta.com.
As the visionary outcome of a true entrepreneur, Dell (NASDAQ: DELL) is committed to helping small and medium businesses grow and better serve their customers by drawing greater value from technology. For more information, visit the Dell Center for Entrepreneurs at http://www.dell.com/entrepreneur.