You might think that small businesses fear competition from business businesses. However a ShopKeep survey shows that’s not the case. Small businesses have a bigger concern for other competing small businesses, the economy and more.
The Shopkeep survey reads: Despite these looming concerns, small business owners are historically a confident group, with the SSBI revealing that 76% are optimistic about the upcoming holiday season. This is even 6% greater than the year-over-year comparison from Q3 2014. Moreover, 62% of the merchants surveyed are retailers, and among that group only 6% view Wal-Mart as a competitor, 4% view Target as a competitor and 13% view Amazon.com as a competitor, disproving popular belief that big box retailers and e-commerce are the biggest threats to today’s independent retailers. Across all merchants surveyed, 71% actually consider their main competitors to be other local businesses.
What keeps you up at night? What’s your big concern?
My concern, my biggest obstacle is getting out of my own way. Making preventable mistakes (as my friend Ken Yancy of SCORE says).