National Association for the Self-Employed – Business Benefits, Educational Resources and Access to Health Insurance for Small Businesses and Startups > What Was The Best Financial Decision You Ever Made (Jan 2008)

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

Survey Results

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