Newtek Business Services, NASDAQ: NEWT, The Small Business Authority, with a portfolio of over 100,000 business accounts, announced today the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of over 2,800 respondents, one of the key findings from the August survey is 47 percent of business owners use Facebook for their small business. It is crucial to understand that individuals and businesses do not own their Facebook pages, Facebook does. Business owners also should be aware that there could be a lot of misinformation shared through this social media platform regarding their business due to security issues that Facebook accounts have.
The full August 2012 results showed the following:
Poll Question Poll Answer Percentage
------------- ----------- ----------
Does your small business have a Facebook account? No 53%
Do you see a concern with sharing information on Facebook? Yes 36%
Barry Sloane, Chairman, President and CEO of The Small Business Authority commented, "The results of our survey came in as expected. Facebook is a revolutionary and evolutionary product for small business owners. Facebook has provided them with a cost effective, "free" way to have a web presence, as well as a tool to communicate with customers and suppliers. Facebook has taken small companies and provided them with a big presence for no cost. As recently analyzed on Forbes, we firmly believe that there is a cost to business owners that have a Facebook account. Small business owners are giving away their customer information including preferences, spending patterns and contact information. If you were a business owner and were offered $72 for all of your customers' valuable information, would you sell it? The answer is NO. Business owners would be better off obtaining a free website from The Small Business Authority and only pay $72 for a shared hosting plan in the cloud that is secure rather than give up ownership of their website. We believe that over course of time, the business owners surveyed will lean towards increased privacy and security for their customer information."
About Newtek Business Services, Inc.
Newtek Business Services, The Small Business Authority, provides the following products and services:
-- Electronic Payment Processing: eCommerce, electronic solutions to accept
non-cash payments, including credit and debit cards, check conversion,
remote deposit capture, ACH processing, and electronic gift and loyalty
-- Managed Technology Solutions (Cloud Computing): Full-service web host,
which offers eCommerce solutions, shared and dedicated web hosting and
related services including domain registration and online shopping cart
-- eCommerce: A suite of services that enable small businesses to get up
and running on-line quickly and cost effectively, with integrated web
design, payment processing and shopping cart services.
-- Business Lending: Broad array of lending products including SBA 7(a) and
SBA 504 loans through our lending subsidiary, Newtek Small Business
-- Insurance Services: Commercial and personal lines of insurance,
including health and employee benefits in all 50 states, working with
over 40 insurance carriers.
-- Web Services: Customized web design and development services.
-- Data Backup, Storage and Retrieval: Fast, secure, off-site data backup,
storage and retrieval designed to meet the specific regulatory and
compliance needs of any business.
-- Accounts Receivable Financing: Receivable purchasing and financing
-- Payroll: Complete payroll management and processing services.
Newtek Business Services, Inc., The Small Business Authority, is a direct distributor of a wide range of business services and financial products to the small- and medium-sized business market under the Newtek(TM) brand. Since 1999, Newtek has helped small- and medium-sized business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses and to compete effectively in today's marketplace. Newtek provides its services to over 100,000 business accounts and has positioned the Newtek(TM) brand as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 27.5 million small businesses in the United States, which in total represent 99.7% of all employer firms.
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