2016 Annual Survey of Entrepreneurs
Please answer the following questions for the business named in the mailing address. Answer even if the business has been sold, reorganized, or ceased operation.
You may use estimates if this survey requests information that is not available in your business records.
Which best describes the ownership of this business? Select all that apply.
Sole proprietorship, self-employed, or independent contractor
Business is owned by multiple people
Another business or organization (e.g., parent business)
Estate or trust
Non-profit organization
Members from a cooperative or club
Government or tribal entity
Other (specify) - _____________________________
In 2016, how many people owned this business?
Do not combine two or more owners to create one owner.
Count spouses and partners as separate owners.
1 person
2 people
3 people
4 people
5-10 people
11 or more people
Business is owned by a parent company, estate, trust, or entity
Don’t know
In 2015, did any one person own 10% or more of this business? (Do not count parents companies, estates, trust or other entities).
Yes
No – Select “No” ONLY if no person owned 10% or more of this business
For the person(s) owning the largest percentage(s) in the business in 2016, please list the percentage owned by each person and his or her name.
Do not report percentages owned by parents companies, estates, trusts, or other entities
If more than 4 people owned this business equally, select any 4 people
Round percentages to whole numbers. For example, report 1/3 ownership as 33%
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Percentage Owned (Estimates are acceptable) |
Name |
Owner 1: |
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Owner 2: |
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Owner 3: |
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Owner 4: |
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What was the highest degree of level of school Owner 1 completed prior to establishing, purchasing, or acquiring this business? Select one box only.
Less than high school graduate
High school graduate – Diploma or GED
Technical, trade, or vocational school
Some college, but no degree
Associate Degree
Bachelor’s Degree
Master’s, Doctorate, or Professional Degree
Prior to establishing, purchasing, or acquiring this business, what was the field of the highest degree completed for Owner 1? Select all that apply.
Natural and Physical Sciences
Law or Legal Studies
Information Technology or Computer Science
Mathematics, Economics, or Statistics
Engineering and Related Technologies
Architecture and Building
Business or Finance
Education
Health, Medicine, or Pharmacy
Social Sciences
Humanities or Arts
Agriculture, Environmental and Related
Food, Hospitality, or Personal Services
Other (Specify)
No Bachelor’s, Master’s, Doctorate, or Professional Degree
In 2016, did spouses, unmarried partners, or two or more members of one family own the majority of this business? (Family refers to spouses, unmarried partners, parents/guardians, children, siblings or close relatives.)
Yes, ownership shared by spouses or unmarried partners
Yes, ownership shared with family members excluding spouses or unmarried partners
Yes, ownership shared by spouses or unmarried partners and additional family member(s)
No, ownership not shared by spouses, unmarried partners, or two or more family members
Was this business operated equally by both spouses or unmarried partners?
Yes, equally operated by spouses
Yes, equally operated by unmarried partners
No, primarily operated by one spouse
No, primarily operated by one unmarried partner
c. Was this business primarily operated by Owner 1 or Owner 2?
Owner 1
Owner 2
In 2016, were this business’s banking relationships with the same financial institutions as any of the owner’s personal banking relationships? Banking relationships include business checking or savings accounts, credit cards, loans, etc. Select one box only.
All of the banking relationships were the same
Some of the banking relationships were the same
None of the banking relationships were the same
The owners had no business banking relationships – Skip to Outstanding Loans
How long were this business’s current banking relationships in place before financial transactions were conducted with the primary financial institution used by this business? Select one box only.
0 - 1 month
2 - 5 months
6 - 12 months
More than 12 months
In 2016, was this business required to provide collateral or guarantee for any outstanding loan extended? Select one box only.
Business did not have an outstanding loan
Yes
No
Don’t Know
In 2016, did this business make any purchases through trade financing? Trade financing is where a business has an arrangement with a supplier to make purchases on account.
Yes
No
For 2016, did each of the following negatively impact the profitability of this business? Select one in each row.
Yes No
Access to financial capital □ □
Cost of financial capital □ □
Finding qualified labor □ □
Taxes □ □
Government regulations (for example, federal, state and/or local) □ □
Slow business or lost sales □ □
Customers or clients not making payments or paying late □ □
The unpredictability of business conditions □ □
Changes or updates in technology □ □
Other (Specify) □ □
For 2016, which impact did each of the following government regulations have on this business’s profitability? Select one in each row.
Very Somewhat Neutral Somewhat Very N/A Negative Negative Positive Positive
Payroll taxes □ □ □ □ □ □
Owners’ personal income taxes resulting from
business income □ □ □ □ □ □
Property and business taxes □ □ □ □ □ □
Sales taxes □ □ □ □ □ □
Workers’ compensation □ □ □ □ □ □
Occupational health and safety □ □ □ □ □ □
Health insurance □ □ □ □ □ □
Employment records □ □ □ □ □ □
Building and renovation permits □ □ □ □ □ □
Business registration □ □ □ □ □ □
Business and professional licensing □ □ □ □ □ □
Health permits and inspections □ □ □ □ □ □
Border and trade □ □ □ □ □ □
Immigration and citizenship □ □ □ □ □ □
Environmental □ □ □ □ □ □
Financial regulations □ □ □ □ □ □
Other (Specify) ________________ □ □ □ □ □ □
During 2016, what percentage of total senior management’s time was spent on government-imposed regulations? Senior management includes owners, managers, directors, and officers above direct supervisors of production or sales workers. Examples of government regulations include taxes, customs, labor regulations, licensing and registration, including dealings with officials and completing forms.
0%
1 – 5%
6 – 10%
11 – 25%
26 – 50%
More than 50%
Don’t know
During 2016, did regulations prevent this business from expanding operations, such as by increasing production, adding locations, or attaining new customers?
Yes
No
During 2016, what was this business’s primary reason for seeking advice or mentoring from others? Select one box only.
Business finances
Employee relations (for example, hiring, workforce retention, employee performance/growth, employee separation)
Management and day-to-day operations
Product development and innovation
Investment and access to capital
Succession planning and exit strategy
Increasing sales
Reducing costs
Taxes and accounting
Regulatory compliance
Technology/ Information Technology
Key performance indicators and business targets
Copyrights, trademarks, and patents
Did not seek advice/mentoring – Skip to Exit Strategy
During 2016, from whom did this business seek advice or mentoring? Select all that apply.
Family (Family refers to spouses or unmarried partners, parents/guardians, children, siblings, or close relatives.)
Friends
Professional colleagues
Employees
Professional consultants
Customers
Suppliers
Government-supported technical assistance program (for example, Small Business Administration (SBA) Small Business Development Center, Women's Business Center, or Minority Business Development Agency (MBDA) Business Center)
Other (Specify)
During 2016, did the advice or mentoring sought by this business lead to any of the following? Select all that apply.
Achieve the outcome expected
Changes in the business’s practices or operations
Improve the business’s performance
None of the above
Which of the following best describes this business’s current exit strategy for any of the owners? An exit strategy is a plan the business owners create to describe how they intend to exit the business and capture their investment. Select one box only.
Walk away from the business
Liquidate or sell off assets and repay the business’s liabilities
Sell the business to employees or managers (for example, offer an Employee Stock Ownership Program (ESOP), management buy-out, or employee buy-out)
Sell or merge the business with another firm
Sell the business to another individual that is not an owner of the same business
Sell or transfer ownership to another owner of the same business
Sell or transfer ownership of the business to a family member(s) that is not an owner of the same business
Prepare an Initial Public Offering (IPO)
None of the above
Business does not have an exit strategy
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| Author | Lucia S Foster |
| File Modified | 0000-00-00 |
| File Created | 2021-01-23 |