Poll: Small Business Owners React to 2020 concerns, the impending election and more

New BizBuySell survey explores small business owner opinions on their top concerns for this upcoming year, the best 2020 Presidential candidate for small business, business security, the impact of wildfires on California businesses and selling protocol.

San Francisco, CA - BizBuySell, the Internet's largest business-for-sale marketplace, surveyed over 1,800 small business owners to get their perspective on what they see having the largest impact on their businesses success in 2020. The survey also asked small business owners their views on how the California wildfires have been impacting small business owners located in California as well as other hot topics small business owners have top of mind heading into 2020.

Topic- 2020 Predictions

Which of the following is your top concern for small businesses in 2020?

• Potential Economic Recession - 31%
• Rising Minimum Wage - 19%
• Presidential Election Results - 18%
• Tax Regulation - 13%
• Healthcare Cost - 9%
• International Tariffs - 6%
• Cyber Threats - 3%

Manufacturing Businesses - Which of the following is your top concern for small businesses in 2020?

• Potential Economic Recession - 29%
• Rising Minimum Wage - 6%
• Presidential Election Results - 26%
• Tax Regulation - 14%
• Healthcare Cost - 8%
• International Tariffs - 14%
• Cyber Threats - 3%

Retail Businesses - Which of the following is your top concern for small businesses in 2020?

• Potential Economic Recession - 30%
• Rising Minimum Wage - 21%
• Presidential Election Results - 17%
• Tax Regulation - 9%
• Healthcare Cost - 8%
• International Tariffs - 10%
• Cyber Threats - 4%

Restaurants - Which of the following is your top concern for small businesses in 2020?

• Potential Economic Recession - 27%
• Rising Minimum Wage - 46%
• Presidential Election Results - 8%
• Tax Regulation - 8%
• Healthcare Cost - 7%
• International Tariffs - 2%
• Cyber Threats - 1%

Service Businesses - Which of the following is your top concern for small businesses in 2020?

• Potential Economic Recession - 34%
• Rising Minimum Wage - 16%
• Presidential Election Results - 16%
• Tax Regulation - 15%
• Healthcare Cost - 11%
• International Tariffs - 4%
• Cyber Threats - 4%

• Very Concerned - 19%
• Concerned - 29%
• Slightly Concerned - 32%
• Not Concerned - 20%

How do you expect the small business economy to perform in 2020?

• Improve- 34%
• Decline- 15%
• No change- 28%
• Unsure -23%

Topic- Politics on Small Business

• Donald Trump- 46%
• Bernie Sanders- 5%
• Joe Biden- 7%
• Pete Buttigieg- 5%
• Elizabeth Warren- 5%
• Other - 32%

Topic- Small Business Security

Has your business ever been a victim of a cyber-attack, such as computer viruses, data breaches, and Denial of Service (DoS) attacks?

• Yes- 21%
• No- 79%

• Yes- 23%
• No- 77%

Do you have measures in place to protect your business from cyber-attacks?

Topic- California Wildfire

These questions were asked only to those who indicated they live in California.

Was your business impacted by the California wildfires and/or the associated power outages?

• Yes - 24%
• No - 77%

Did your business experience a decline in sales as a result of the recent California wildfires?

• Yes - 74%
• No - 26%

Topic- Small Business Planning

How much exit planning have you completed for your business?

• Significant - 13%
• Some - 34%
• Little - 26%
• None - 25%

How long do you think it would take to get your business ready for sale?

• Under 3 months - 45%
• 3-6 months - 22%
• 7-11 months - 9%
• 1-2 years - 13%
• 3-5 years - 4%
• 5+ years - 5%

Do you know how much your business is worth?

• Yes I know the exact market value - 17%
• Yes, I have a fairly accurate estimate - 36%
• Yes, I have a rough estimate - 29%
• No, I do not know - 18%

What have you done to value your business? (Select all that apply)

• Professional Appraisal - 22%
• Comparable Business Sales - 39%
• Multiples of cashflow/SDE/EBITDA - 40%
• My Own Analysis - 57%
• Other - 6%