Small businesses see revenue growth

Results of the recently released Constant Contact Small Business Pulse Survey showed that small businesses are beginning to see an increase in revenue growth this year.

Constant Contact's survey results gave small businesses and the industry optimism about 2012, and the idea of attracting new customers has spread excitement among small business owners.

The report's results showed that the health of small business has improved significantly, with the majority of small companies reporting revenue increases over 2011. Fifty-nine percent of the surveyed companies reported that their revenues increase while 30 percent said revenues remained consistent and 11 percent stated revenues decreased.

“While small business owners are reporting optimistic 2012 revenue projections, the fact that they aren’t hiring, and operating costs are rising, makes it clear it’s a cautious optimism,” said Gail Goodman, CEO of Constant Contact. “For now, it appears small business owners are continuing to try to do more with less.”

While there has been a significant improvement in small businesses across the country, hiring still remains a challenge for companies. According to statistics, 66 percent of small businesses are not planning on hiring additional full-time employees in the next six months and about 20 percent said they need to hire more people but can't.

Achieving growth within a company has become more difficult for many companies that are constantly looking to improve their status in the industry they serve. When small business owners were asked what keeps them up at night, 76 percent said how to attract new customers, 49 percent stated how to connect and better engage with existing customers, and 41 percent reported how to get referrals from current customers.

Small business marketing has become a major concern for entrepreneurs who are looking for better ways to serve their customers. Eighty-three percent of business owners believe that email marketing is the best method of reaching more consumers, while 71 percent believe it's website marketing and 68 percent think it's in-person interactions.

With the increase in business comes the need for better technology to handle the increased number of consumers requesting a company's services. More companies are beginning to use mobile payments in order to keep up with the trends seen around the country.