Business Owner Research
Business owners have a variety of needs and they’re always evolving. That’s why we conduct our business market survey. It provides a snapshot of what they’re thinking about today and what’s important to them. Use our tools and insights from that survey to help start the priorities and planning conversation with clients.
Top six takeaways from the 2019 business owner market study:
- For the fifth survey in a row (since 2010), business protection is rated the top priority (regardless of the number of employees).
- Affordability is critical. This is a common theme, and more owners are saying employee benefit decisions are driven by affordability.
- Significantly more owners are using a financial professional (as compared to 2015 and 2017 surveys). They're looking for expertise in the person they choose.
- Two-thirds are family-owned businesses, with over half of these in business for only one generation. These owners could benefit from our planning process that helps address their unique needs.
- Almost half of owners would like to reward key employees with additional benefits. They see offering key employee benefits as a way to recruit and retain employees most valuable to their business.
- Business succession planning has increased significantly since 2008. Almost all owners with an exit strategy are confident after creating a solid, well-developed plan.
Key materials listed below.
Approach email (LF888)
Get business owners thinking about how they're balancing their priorities and planning. Includes link to BB10316.
Social Media Campaign (BB12077)
Use these social media posts on Twitter and LinkedIn as you work with business clients.
Business priorities versus realities (LH142)
Illustrates the top five priorities business owners cited and how they don’t always reflect their realities. Also includes reasons that keep them from planning.
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