Buying Decisions for Small Business

Goals

For businesses with 10-99 employees, determine who makes buying decisions and how much they tend to spend, for both accounting software specifically and other products.

Early Findings

  • 72% of small business owners say they are typically the ones in charge of making tech purchasing decisions for their business.
  • Small businesses spend on average 15% of their total annual budgets on technology.
  • Most of the technology budgets of small businesses is spent on computer hardware and financial software. Smaller portions go to productivity software, internet hosting, security systems, point of sale/point of purchase software and CRM software.
  • Small business owners generally select vendors to purchase with in three stages, each lasting around 20 minutes. These stages are research, qualification, and evaluation.
  • Accounting software for 1-4 users generally costs between $500-$2,000 to purchase the system, or $0-$500 per month for subscription based services.

Proposed next steps:

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