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Life Health > Life Insurance

Guardian Report Flags Changing Priorities Among Growing Small Businesses

By Staff Writer

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Owners of bigger small businesses seem to be more interested in expanding and in increasing productivity than owners of micro businesses are.

A research unit at Guardian Life Insurance Company of New York, New York, has published that finding in a report based on a survey of business owners with 2 to 99 employees.

Businesses with 2 to 9 employees tend to revolve around the owner, and they typically generate 100% to 400% more revenue per employee than businesses with 50 to 99 employees, according to the Guardian research unit.

About 53% of owners of companies with 50 to 99 employees say they want to expand their businesses, but 58% of owners of companies with fewer than 10 employees say they are just trying to maintain business as usual.

In addition, the Guardian research unit found that the owners of the larger small businesses are more interested in finding, motivating and retaining good employees, and that they are more interested in getting the most out of accountants, lawyers, financial advisors, insurance agents and other professional services advisors.

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