Sixty-seven percent of small-business owners expect to increase revenues by the end of 2017, according to a new survey from Kabbage. The financial tech company partnered with Bredin, a small-business market research firm, to poll 400 entrepreneurs across industries including retail, education, food, and energy.
The results show that more than half of the small-business owners surveyed are expecting a revenue increase of 10 percent or higher. But that hard work comes at a cost. Sixty percent said they take a vacation once per year, while 23 percent said they take fewer than two vacation days every year. What's more, 75 percent work through their time off.
"There's all this grit, blood, sweat, and tears that they put into being a small-business owner," says Victoria Treyger, the chief revenue officer of Kabbage. "They are extremely focused on serving their customers, and they do it all while being incredibly passionate and optimistic about the future."
Kabbage found that entrepreneurs tend to sacrifice time and personal money for their business. Eight-six percent of those surveyed said they work weekends, while 29 percent work more than 50 hours per week. Additionally, nearly half of all small-business owners use personal savings to pay for aspects of their business.
The hard work won't stop at the end of the year: 36 percent said they will seek new ways improve their skills in 2018, and 32 percent will invest in new technologies.