Startups Need Access to Capital, Talent and Technology

small-biz-infographicDell travelled the country and met with small business owners to find out what they need to succeed.
The result, a report released this week by Dell and Intel, found that startups and small businesses plan to grow and plan to use technology to help them do it.
But they need access to networks, talent and expertise, access to money to fuel their expansions and access to technology.
Dell met with business owners in nine cities, including Austin, during the last year. The other cities were Atlanta, Miami, the San Francisco Bay Area, Chicago, the Los Angeles and Orange County Area, Philadelphia, Seattle and Boston.
Key findings for Austin:

  • More, or 55 percent, of small businesses expect to expand in Austin than the rest of the country, which averaged 48 percent.
  • More small businesses in Austin, or 67 percent, handle their technology needs themselves, compared to a national average of 57 percent. Compared to the national average of 15 percent, only 6 percent of local businesses in Austin have a full-time dedicated IT staff.
  • Most, or 58 percent, of Austin business owners use personal savings as their top source of funds with only seven percent tapping loans at banks and credit unions.

“While possessing a bright outlook overall, entrepreneurs and small business owners remain uncertain about the future ahead. To compete in today’s global landscape, they need technology to innovate, but it’s not the only thing they need,” Ingrid Vanderveldt, Entrepreneur in Residence at Dell, said in a statement. “Turning a great idea into a successful business also requires access to financing, networking and knowledge.”

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