| 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. |
| |
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 | |
| |
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 | |
| |
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 | |
| |
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 | |
| |