Small-business owners have struggled in recent years, but new data indicates they may need to invest in a new cash and check scanning machine as sales finally pick up. A recent report from the National Small Business Association indicated many entrepreneurs believe the market is improving, which could mean shoppers are more willing to spend and retailers need to be able to cope with an increasing number of transactions.
Conditions appear to be on the rise
According to the NSBA's 2013 Mid-Year Economic Report, economic conditions don't appear quite as bad as they did in the past. The study indicated 40 percent of small-business owners believe the economy is in better shape today than it was five years ago, the highest this number has been in five years. Only 45 percent of American entrepreneurs think conditions are worse today than they were five years ago, the lowest this number has been in several years. Respondents' main concerns relate to public policy - 19 percent though the president and Congress should end the gridlock and work more closely to resolve lingering issues.
Despite a political stalemate, the majority of businesses expect the coming year to be a positive one. Fifty-nine percent of respondents expect growth or are already experiencing an increase in sales - a 50 percent increase from the number who responded positively a mere six months ago. Thirty-seven percent have seen revenue increase over the past year, while another 47 percent anticipate this number will jump in the next 12 months. To further enhance growth, 46 percent of firms will invest in new advertising tactics, while 33 percent will expand their e-commerce options and 18 percent will bring on new workers.
While many firms anticipate stronger revenues in the coming months, even those that don't may find these growth strategies are beneficial in helping them boost sales goals and turn business around for the better. As such, companies need to be prepared for an increase in consumer purchases, especially if unemployment continues to drop and consumer confidence keeps rising. By turning to the latest money and check counters, businesses can ensure they are fully capable of managing daily sales, more efficiently handling backroom processes and better serving their consumers. Investing in an updated cash and check scanning machine will allow business owners to spend less time processing transactions and spend more time on the floor with shoppers, enhancing their experience and encouraging them to purchase more products.
August 15, 2013