21 May

Those Tech-Savvy, Well-Off Small Biz Owners

experian.jpgExperian, the credit reporting agency, conducted a study of the small business market, dividing it up according to incorporated businesses and unincorporated businesses.  The study covered 1.2 million small businesses with no more than 25 employees and $10 million in sales.

The picture it painted was of business owners being wealthier than the general population.  Business owners are tech-savvy individuals, active in sports, who travel, read books and have an interest in do-it-yourself projects.

The study also found that owners of incorporated small businesses were wealthier than those of unincorporated businesses. The mean annual income for incorporated business owners is $78,500, compared with $72,000 for unincorporated business owners, and $58,000 for the general population.

The Experian study also evaluated the attitudes and lifestyle preferences of business owners, finding that:

  • incorporated business owners are 94% more likely to be technology savvy and motivated by image and status than unincorporated business owners and the general population;
  • business owners are generally more likely to be involved in several sporting activities, such as golf, boating, skiing, tennis and sports in general, than the general population;
  • business owners are more likely to be active travelers;
  • business owners are more likely to have an interest in do-it-yourself activities, books, current affairs, high tech gadgets, cooking and wines.

It certainly gives some ideas for appealing to business owners during their leisure hours, doesn’t it?

I also found it interesting that incorporated business owners are tech-savvy, belying the stereotype of the small business as technology averse. If that’s your view of business owners, change your attitude right now.

You can download the 12-page Experian report here.

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  1. Sanjay Kumar said on May 25th, 2007 at 11:46 am

    It’s interesting. We tend to think about unincorporated businesses as the proverbial “long-tail”, and reading that they are much less technically savvy than incorporated businesses makes them so much harder to reach with new/digital marketing techniques.

    SimplifyThis.com

    Reply
  2. EJMalyn said on July 5th, 2007 at 8:28 pm

    WOW! Found “incorporated vs unincorporated” businesses very interesting. Attitude change is right.

    Reply
  3. [...] Stay tuned at the end of the program for the Today’s Trend. Today’s Trend is: Those Tech-Savvy Business Owners. For more information, here’s a related article titled “Those Tech-Savvy, Well-Off Small Biz Owners.” [...]

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