Respondents: 102 |
NASE Members make financial decisions about their micro-businesses every
day. Some impact the business more than others. Tell us about the best financial
decision you ever made for your micro-business. Plus, give us your name and
contact information and you could be featured in an upcoming magazine article
about this topic. |
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1. What was the best savings decision you ever made? 10% | Created an emergency fund for my business | 43% | Started a retirement account | 10% | Put my business on a strict budget | 26% | Saved for a big expense rather than paying for it with a loan or credit
card | 12% | Other | |
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2. What was the best cash flow decision you ever made? 18% | Being careful and vigilant about extending credit to customers | 28% | Collecting receivables on time | 45% | Learning to accurately forecast revenues and expenses | 10% | Other | |
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3. What was the best debt decision you ever made? 39% | Paid off my business credit cards or business loan | 32% | Bootstrapped my way to success without ever incurring any business
debt | 15% | Took out a loan or line of credit for my business | 06% | Borrowed from friends and family to get my business started | 08% | Other | |
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4. What benefits has your micro-business enjoyed because of your smart
financial decisions? (Check all that apply) 17% | I’ve been able to expand my business | 14% | My business is financially prepared for an emergency | 24% | My business rarely has a shortage of cash | 41% | I can sleep at night without worrying about money! | 04% | Other | |
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