SMB accounting software vendor MYOB and loan specialists OnDeck asked 530 small-to-medium business (SMB) owners about what they would do if they were given $50,000 to invest back into their businesses. Here’s what they had to say.
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Cash flow is a concern for every business but what would SMBs do with $50,000 worth of funds to invest into their company? Thirty-four perfect of the MYOB SME Snapshot survey respondents said they would dump the money into buying inventory and equipment.
Marketing, advertising and PR are also prioritised by SMBs with 30 per cent of respondents saying they would invest in those areas. A quarter of business owners would pour that money into hiring additional staff.
You can see the rest of the survey results below:
Image: From MYOB and OnDeck
What would you do with a cool $50,000 to invest into your small business? Let us know in the comments.
Comments
One response to “What Would Small Business Owners Do With A Spare $50,000?”
Purchase Inventory, buy and kit out a Ute and develop an app for in house invoicing and client booking. I’m a mobile IT Support Service that covers a 1000km area where having a 4×4 matters. I’ve done work for stations for jobs as simple as wiring up the new radio system across the whole station (easy but time consuming especially with 10 towers to do) to fixing government exhibits at regional shows where I’ve only got a 3 hours to completely save a failed exhibit with corrupt software to fail hard drives. I’m still pretty small time, but 50 grand would be enough for me to invest in what I need to do this full time. Actually only need 38 grand to do it.