Printer Friendly

IBM-SPONSORED SURVEY OF CHAMBERS OF COMMERCE FINDS RECOVERY RESTS ON SMALL BUSINESSES' SHOULDERS

 IBM-SPONSORED SURVEY OF CHAMBERS OF COMMERCE FINDS
 RECOVERY RESTS ON SMALL BUSINESSES' SHOULDERS
 WHITE PLAINS, N.Y., May 13 /PRNewswire/ -- An IBM Corp. (NYSE: IBM)- sponsored survey of 267 Chambers of Commerce officials nationwide points to small business as the power behind any economic recovery. Almost nine in 10 (87 percent) of Chambers' of Commerce officials believe that companies with fewer than 100 employees are a vital economic force whose day-to-day efforts will help the economy improve by hiring "first and fastest."
 The only region where this attitude was greeted with some skepticism was among the surveyed executives in the Northeast, where just slightly more than three-quarters of the Chambers' officials said small business would spark the economy. This compared to about 9 in 10 of those in the Midwest and South, and 86 percent of those in the West, who believe the recovery will be led by small firms.
 In the survey, which was released Monday, these local business officials also say that large businesses can do much to help small businesses grow and prosper. There is almost unanimous agreement (95 percent) among the survey respondents that a team effort between large and small companies can accomplish change for the better, according to Wirt M. Cook, the IBM executive who leads the company's marketing efforts among small and growing companies.
 Three distinct areas where the skills and resources of large businesses could be of assistance to their smaller counterparts were also identified by the surveyed executives. The first category was broadly described as joint problem solving, or helping small businesses identify the problems they share in common. Among the specifics mentioned were: training the local workforce (80 percent); letting small businesses know what resources exist locally and how to access them (79 percent); and increasing the purchase of goods and services from smaller local firms (79).
 Better analysis of business performance was another major category in which the Chambers felt large companies could help smaller firms raise their level of sophistication. Areas needing to be addressed included: isolating factors and costs that affect these small companies most; automating or computerizing management functions; and improving control over inventories.
 The last -- and perhaps most crucial category for assisting small business -- was helping the nation's small entrepreneurs prepare and meet the challenges of expansion. Areas identified as critical to their efforts included: developing marketing skills and capabilities; expanding their customer base beyond the immediate area; positioning for growth once the economy turns around; and developing and adhering to strategic business plans.
 The survey, with a margin of error of 5.5 percent, was released in conjunction with National Small Business Week (May 10- 16) in Washington, D.C., which celebrates the accomplishments of America's foremost entrepreneurs. Interviews were conducted among Chambers of Commerce officials in the nation's 50 largest metropolitan statistical areas.
 -0- 5/13/92
 /CONTACT: Larry Phipps of IBM Corp., 914-642-5367/
 (IBM) CO: International Business Machines Corp. ST: New York IN: CPR SU: ECO


TQ -- NY029 -- 9573 05/13/92 10:25 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 13, 1992
Words:503
Previous Article:IOMEGA ANNUAL MEETING LOOKS TO THE FUTURE
Next Article:/C O R R E C T I O N -- MORNINGSTAR GROUP/
Topics:


Related Articles
IBM PS/1 SURVEY REVEALS INCREASE IN SMALL BUSINESS BUYERS
LARGER FIRMS CAN HELP SMALL BUSINESSES IDENTIFY, ADDRESS NEEDS: IBM SURVEY OF LOCAL CHAMBERS
SMALL BUSINESS PROFITABILITY UP SUBSTANTIALLY, NEW FLORIDA CHAMBER/MASON-DIXON BUSINESS POLL SHOWS
SBA Co-Sponsors National Satellite Conference on Financial Assistance For Women Business Owners.
Businesses Changing Strategies to Respond to Rising Health Care Costs.
Drive to cut red tape.
Minority business opportunities: Resource Portal rates IBM and DoD best for multicultural firms. (Small Business News).
Hurricane recovery and rebuilding programs available.
SBA Honors Outstanding Small Business Owners for Their Disaster Recovery Efforts.
OBSNews.com Reports on United States Hispanic Chamber of Commerce (USHCC) Paperless 'Green Convention'.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters