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OnDeck Launches Initiative to Help Small Business Owners with Time ManagementNEW YORK, Aug. 23, 2016 /PRNewswire/ -- OnDeck® (NYSE: ONDK), the leader in online lending for small business, today launched a national initiative to help small business owners overcome one of their most formidable challenges – time management. The first-of-its-kind initiative is in response to OnDeck's latest Main Street Pulse Report, a quarterly study of small business trends, which found that many small business owners are more pressed for time than ever before, with a whopping 86 percent of those surveyed saying that "one needs to be exceptional at time management to excel as a small business owner."
The results from OnDeck's recent Main Street Pulse Report point to a challenging reality for small businesses. Half of the survey respondents agreed that: "As a business owner, work/life balance is an illusion," with even more – 61 percent - saying that "they constantly feel like they are racing against the clock." When asked, "How many hours per week would you need to successfully run your business?" those surveyed felt they would need 69 hours on average. Click here to view an infographic detailing the time challenges of small businesses: www.ondeck.com/33hours In addition to applying for credit, other time-intensive parts of a small business owner's day as identified by a large number of respondents include customer service (42 percent), followed by marketing (41 percent), accounting (33 percent) and people/HR (31 percent). So, it's no surprise that time management skills are of paramount importance tothem. "Our research shows that small business owners are pressed for time and need to find ways to free up more time in their day," said Andrea Gellert, chief marketing officer, OnDeck. "To help hardworking small business owners be more efficient, we'll be unveiling a host of time management tools. We're committed to helping small businesses obtain efficient access to capital so they can spend time on the things most important to them." According to a study from the Federal Reserve Bank of New York, small business owners spend an average of 33 hours searching and applying for a traditional bank loan. OnDeck's latest Main Street Pulse Report also examined how business owners value their time and what they would do instead if they could bypass the 33 hours spent buried in loan paperwork. Surprisingly, taking a vacation this summer wasn't their first choice. Rather, the most respondents, roughly 43 percent, said they would choose to take those theoretical hours back and spend quality time with family and friends. To view a video of what else small business owners could do with 33 hours of time back, visit: https://www.youtube.com/watch?v=YLZwK2Hy1bU&feature=youtu.be The 2016 Small Business Time Management Initiative launches today with valuable advice that can help business owners overcome the challenges of running and growing a business, including: Time Management Series Facebook Live Chat: 7 Ways Small Business Owners Can Be More Efficient Marketers Quickbooks Online Essentials Contest: Streamline Your Accounting As the leading online small business lender, OnDeck has delivered over $5 billion to more than 50,000 customers in 700 different industries across the United States, Canada and Australia. OnDeck Survey Methodology About OnDeck Media Contact: Miranda Eifler Logo - http://photos.prnewswire.com/prnh/20150812/257781LOGO Photo - http://photos.prnewswire.com/prnh/20160822/399975-INFO Video - https://youtu.be/YLZwK2Hy1bU
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ondeck-launches-initiative-to-help-small-business-owners-with-time-management-300316616.html SOURCE OnDeck |