Small Business Insights: Sunday Statistics Ed. 6

Although it’s a little later then I usually publish Sunday Statistics, I decided to give you a good strong dose of some numbers about small business owners. If small business employees and owners are your target, be sure to soak in these statistics to better understand and market to your audience.

The Statistics

This week’s numbers come from a March 2008 free whitepaper offered by Experian, The small-business owner –an in-depth B2B marketing study of owners of multiple small businesses.

Business Owner Profile: when compared to the overall population, business owners are more likely to:

• have incomes >$75,000
• be married with children
• be college educated
• Reside in a household where the head of the household is between 45 and 69 years
• Live in higher-value homes, usually valued at $300,000 or more
• donate to environmental and political causes.

Multiple Business Owner Profile: When compared with the overall population, owners of more than one business are:

• 41% more likely to have household incomes >$125,000
• 47% more likely to reside in the wealthiest neighborhoods and have higher mortgages, usually > $200,000
• 26% more likely to have undergraduate and graduate degrees
• more likely to be looking to purchase a new vehicle
• 38% more likely to have “work hard, play hard” attitudes
• more likely to be refined in their interests and activities, show interest in cultural arts, books, golf, music, skiing, tennis, and foreign travel.

There is a direct correlation between the amount of business an individual owns, his or her income, education level, and total loan or mortgage amount.

Statistics Summary

If you’re interested in more specifics about the small business owner, I would strongly recommend checking out the free whitepaper by Experian, as there is a much more extensive profile provided.

Based on the statistics I’ve shared, the small business owner is an educated individual living in a wealthy neighborhood and making about $100,00 per year. They don’t mind investing in real estate, even if it means a large mortgage. They have refined tastes, interested in the arts and many “upper class” sports, and likely to contribute to political and environmental charities.

If you target small business owners, you should learn more about their refined tastes and alter your marketing and advertising materials to mimic their tastes.