The State of Small Business in 2022: Majority of Owners Have Less Than $5,000 Free Cash Flow, Wave Survey Finds

by | Apr 20, 2022 | CEO Surveys, Employee Surveys, Finance Surveys, In the News

Our study for one-stop money management solution for small businesses, Wave, was recently released. This online survey of 1,202 U.S. small business owners was conducted in March of 2021, and focused on their financial readiness. One alarming statistic we found was that almost half (48%) of respondents said they would be unable to pivot to additional revenue streams in the wake of a financial crisis. The co-founder and CEO of Wave, Kirk Simpson, had this to say “As we embark on another uncertain year, it is more crucial than ever for small business owners to stay prepared through a focus on increased cash flow and a better understanding of how to handle their money. Our survey highlights the new challenges that are top of mind for business owners, but also shows the new opportunities for success as we emerge from the pandemic. With the proper money management tools and financial habits in place to help prepare for business emergencies, small business owners can set themselves up for success and handle anything that comes their way in 2022.”

Read the full article on Globe Newswire or Digital Journal.

Author Notes:

Jeffrey Henning

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Jeffrey Henning, IPC is a professionally certified researcher and has personally conducted over 1,400 survey research projects. Jeffrey is a member of the Insights Association and the American Association of Public Opinion Researchers. In 2012, he was the inaugural winner of the MRA’s Impact award, which “recognizes an industry professional, team or organization that has demonstrated tremendous vision, leadership, and innovation, within the past year, that has led to advances in the marketing research profession.” In 2022, the Insights Association named him an IPC Laureate. Before founding Researchscape in 2012, Jeffrey co-founded Perseus Development Corporation in 1993, which introduced the first web-survey software, and Vovici in 2006, which pioneered the enterprise-feedback management category. A 35-year veteran of the research industry, he began his career as an industry analyst for an Inc. 500 research firm.