This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

New Citibank® Small Business Pulse Finds Sales Growth Isn’t Enough To Keep Cash Flowing

Stocks in this article: C

When asked about their own business situations, owners report similar quarterly and yearly trends, with 34% claiming that 2012 will end up better than business was last year, but only 27% saying they have seen that improvement by August. Comparing short-term frustration to full-year results, 43% project actual sales growth for 2012 over last year. In fact, 42% of respondents expect 2012 business sales or revenue to meet their goals and 14% expect to exceed goals.

REINVENTION TO REMAIN RELEVANT

Consistent with last quarter, more than half of respondents (52%) have reinvented their businesses to stay afloat or be more competitive in today’s marketplace. In August, 60% of respondents said they have added or changed the products they offer. Another 51% of “reinventors” overhauled their technology infrastructure, including replacing networks, computer systems and software systems. Among those who made changes, 40% say the initial trigger for reinvention was simply a feeling that something needed to change. Based on that gut reaction, they recommend research and to “get educated” as the first step in making those changes happen.

“Intuition can lead many small business owners to success in their quest for growth, because they remain close to their customers, the marketplace and operations,” says Byers. “While they often feel the need for change, they consistently reinforce that feeling with up-to-date knowledge to keep their business thriving. They even suggest research, education and following market changes to other business owners who plan to make significant changes.”

About the Citibank® Small Business Pulse This Citibank survey was conducted via telephone August 9, 2012 – August 30, 2012 by Abt SRBI Research and Public Affairs among a national random sample of 750 small business owners/operators, age 18 and older throughout the United States. Oversample interviews were conducted in New York (200 interviews) and California (200 interviews) markets. The margin of error for the national sample is approximately +/- 3.58% and +/- 6.93% for New York and California over samples. Surveys are subject to other error sources as well, including sampling coverage error, recording error, and respondent error.

About CitiCiti, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

Copyright © 2012 Citigroup Inc. Tags/Keywords:Citi, Citibank, small business, CitiBusiness, Citibank® Small Business Pulse

© 2012 Citigroup Inc. Citibank, N.A. Member FDIC. Citibank and Citi with Arc Design are registered service marks of Citigroup Inc.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs