INFOGRAPHICS ASSIGNMENTS

STATISTICS FOR MANAGEMENT (MBA 135)

BY

ANILA D S

1927829

MBA K

UNDER THE GUIDANCE OF

Dr MANOHAR KAPSE
INFOGRAPHIC: SMALL BUSINESS TRENDS
INTERPRETATION:

The above info graphic was surveyed by Guidant financial & lending club for more than
2700 small business owners nationwide. With the 78% of all respondents said their business
was currently profitable where 73% were male and rest 25 % were female.

1. Age range

35% of the respondents are in the age group of 50-59, therefore, we can understand that most
of the respondents were senior of so many years of work experience so that they know how to
deal with the business compared to another age group.

25% of the respondents are in the age group of 40-49, here also the respondents will have
experience and do practice knowledge and technical skills.

18% of the respondents are in the age group of 60-69, here most of the respondents will be
enjoying retirement and will also have good work exposure but still, again they might feel to
work hard, therefore, start a small business.

14% of the respondents are in the age group of 30-39, here the respondents will have less
work experience compare to the above age group but they will have new business ideas.

4% of the respondents are in the age group of 18-29%, here most of the respondents are
fresher or 1-2 year of experience so, therefore, the capital to start a business will be less.

4% of the respondents are 70 plus, most of them will be enjoying retirement and also due to
health issues it will be difficult to manage.
 2. Education

Clearly we can identify that education is not that important to start a small business because
33% of the respondent qualification is high school equivalency certificate and 29% have
bachelor’s degree here the respondents will have theoretical and practical knowledge and
18% are associates degree, they will have some theoretical knowledge and 16% master’s
degree here the respondents will have a plan to start large business and 4% have doctorate
they main preference will be for research. The majority of owners are profitable regardless of
their education.

3. Confidence in political change

Only 24% (1-5) is the least confidence in political change and rest 76% (6-10) are highly or
most confident so therefore we can understand any change in political climate can’t affect the
confidence of small owners.
 4. The motivation for opening a business

26% of the owners are ready to be his/her own boss, it shows the level of confidence
and interest towards the business and 23% of the owners are wanted to pursue his/her
passion, here the owners are goal oriented and planning to fulfil his/her dreams and 19% of
the owners got it in a opportunity presented itself, here the owners suddenly plan to start a
business with his/her business plan and 12% of owners are dissatisfied with corporate
America because the owners will have his/her own ideas to be fulfilled instead of working
under somebody and rest 20% would be enjoying their retirement.

5. Top challenges for small business owners

33% of owners have a lack of capital/ cash flow, this is one of the biggest challenges because
capital is important to start a business from starting raw material to end it as a product money
is essential and 15% is for marketing/advertising because by doing promotion only customers
will know more about the product or services and 13% is for time management because the
ability to use one’s time effectively for productivity is necessary to start a business and 13%
for recruiting, the owners will face the biggest challenge to recruit the right person to the
right job so therefore the selection process should be taken properly and 13% is for
administrative work like bookkeeping, payroll, receptionist and rest 6% is for
managing/proving benefits like increase in payments, providing bonus, PF, casual leave, etc.
 6. Happiness level

11% (1-5) of the owners are least in the level of happiness and rest 89% (6-10) are happy to
start a small business which shows the confidence to fulfill the dream and we can observe
here 37% are most highly happy which indicate the courage he/she has.

7. Top 5 small business industries

11% of the owners are interested in business services which includes consulting, professional
services, training, networks and communicating etc and 11% of the owners are interested to
start a restaurant because most of the customer order through uber eats, swiggy so it will be
more profitable and 11% for health / beauty / fitness, now a days most of the people give
importance to health and fitness to enhance their beauty and 7% for general retail and 6%
home services like personal chef, home cleaning, car drivers etc
 8. Most popular financing methods

From the past, Cash remains the most popular financing methods with the increase in
percentage of 32 because most of the owners feel comfortable and 13% through business
financing like bank term loans, invoice financing, non-profit business loans, personal loans
for start-up and 12% from friends and family because both of them plays an important role in
an individual life so owners can take help from them and 10% is from line of credit like bank
loan and 9% is from unsecured loans like credit card and 5% is from SBA loan.

CONCLUSION

The majority of entrepreneurs/owners show the happiness and confidence to start a business
and also they can save energy, time and cost if they plan according to the customer needs and
wants. Small business is more profitable and by this profit, he/ she can expand the business
into large. The owners should work hard to achieve their goals.

REFERENCE

https://www.guidantfinancial.com/learning-center/infographics/2019-small-business-trends/