SMBs Take Cues from Major Retailers with Early Holiday Promotions

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Overall, 34 percent of small business owners believe their business will perform better this holiday season compared with last year. Small business owners between the ages of 18 and 44 are more optimistic, as 50 percent believe their business will perform better this holiday season, while only 29 percent of small business owners over the age of 44 believe this holiday season will be more successful.

Small business owners are attributing this success to better marketing (52 percent), expanded products and services offered (50 percent) and increased consumer demand (49 percent).

A new survey of small business owners released recently from Ink from Chase shows that, like major retailers, small business owners are preparing for the holiday rush even earlier this year with more than one-third (34 percent) planning promotions beginning on or before Thanksgiving Day. To gear up, 47 percent of small business owners are increasing inventory or marketing, while 22 percent plan to enhance their social media presence.

The nationwide survey commissioned by Ink from Chase, the business card portfolio of Chase Bank USA, N.A., a subsidiary of JPMorgan Chase & Co. (NYSE: JPM), reached 507 small business owners that sell consumer goods and have between two and 99 employees. This slideshow features some of the key findings.


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