MasterCard Survey Finds U.S. Small Business Owners Feel Having Their Own Business Provides Better Work Life Balance

May 4, 2007; 06:45 AM
According to a new survey released by MasterCard Worldwide, 96 percent of U.S. small business owners say that balancing their work and life is important to them and more than half believe that being a small business owner enables greater work-life balance compared to other workers. Surprisingly, 83 percent say that they rarely or never miss important personal events due to work.

These survey results coincide with MasterCard’s new small business promotion, “Run Your Business, LIVE Your LIFE,” designed to help small business owners better run their business and live their life. Every time a small business owner uses their MasterCard BusinessCard® or Debit MasterCard BusinessCard® card between May 1 and June 30, 2007, the small business owner is automatically entered for a chance to win a $100,000 prize: $50,000 for their business and $50,000 for themselves.* According to the survey, 70 percent of small business owners say that winning $100,000 would positively impact their work-life balance.

Further supporting the work-life themed promotion, MasterCard teamed up with Microsoft to provide small business owners free online seminars from Microsoft Office Live. The seminars make available Internet-based services and tools to help small businesses establish a professional Web presence and promote their business online while also giving entrepreneurs access to industry experts on topics relevant to small businesses challenges. The seminars can be accessed on www.mastercardbusiness.com or on www.officeliveseminars.com.

Additionally, the promotion enables small businesses to take advantage of special offers that help them better manage their business, such as:

• Double entries for any purchase made with a MasterCard® BusinessCard PayPassTM or with any MasterCard BusinessCard card at Staples – whether in store, online or via their toll-free phone number;
• Special pricing on MasterCard customizable Gift Cards that provide small businesses with the ability to tailor the card with their business logo;
• Free shipping on any PhotoStamps order of customized USPS stamps; and
• Free marketing services from Microsoft (valued at $140) with the purchase of Microsoft Office Small Business 2007 or Microsoft Office Professional 2007.

“For most small business owners, the line between professional and personal life is often blurred as they are constantly juggling multiple business and personal tasks,” said Bruno Perreault, Group Head, Small and Mid-Sized Enterprises, MasterCard Worldwide. “The “Run Your Business, Live Your Life” promotion is a reflection of our commitment to provide small businesses with the necessary tools and resources that enables them to not only improve how they run their business but also continue to achieve balance in their life.”

Additional Small Business Work-Life Survey Highlights:

Achieving Work-Life Balance

• Not having enough money to meet business and personal needs (21 percent) and rarely being able to fully turn off from the job when they’re away from it (16 percent) where the top factors noted as interfering with work-life balance.
• Making enough money to meet or exceed business and personal needs (30 percent) and having flexible working hours (28 percent), were the top factors noted that help small business owners achieve work-life balance.
• When asked what work-related factors best help them to achieve work-life balance, better organizing business and personal priorities (29 percent); and hiring and retaining competent employees that could assume some responsibilities (21 percent) were among the top factors cited.
• Sixty-one percent of small business owners said that they work between 8-12 hours a day.

The Impact of $100,000
When asked how they would spend $100,000 to use towards improving their work-life balance, small business owners’ top responses included:

• Invest or save it (49%)
• Paying off personal loans and other debts (29%)
• Upgrades or improvements/expansions for your business (26%)
•  Paying off business loans and other debts (27%)
• Purchase business equipment and/or supplies (25%)
• Donate it/give to charity (25%)
• Employees (i.e. increased salaries, improved benefits, bonuses, or time off) (20%)

Conducted by Ipsos Public Affairs on behalf of MasterCard, the survey polled 503 U.S. small business owners with 100 employees or less between April 10 and April 29, 2007 and has a margin of error of +/-4.5 percent. Full results of the survey are available upon request.

Additional Microsoft Office Live Seminar Series Information:
This two-month long series gives entrepreneurs access to some of today’s most dynamic business leaders. During these interactive presentations, leaders will give practical advice on the hottest topics that are facing small businesses today such as marketing on a budget, how to start a new business and exploring franchises. The series is hosted by Susan Wilson Solovic, CEO and chairman of SBTV.com, the Web-based television network focused on small business.

A sample of the 16 seminars being offered to small businesses includes:
• Julie Morgenstern, best-selling author of “Time Management from the Inside Out”, shares strategies that help small business owners take control of their life.
• George Silverman, “The Secrets of Word-of-Mouth Marketing,” explains how you can dramatically boost your sales by getting customers to sell your products for you.
• Al Lautenslager, “Guerrila Marketing in 30 Days”, presents 10 low and no-cost marketing tactics that you can put to use immediately to help get more business.
• Caitlyn Friedman and Kimberly Yorio, “A Girl’s Guide to Being a Boss,” offer tips and techniques for mastering the art of delegation.
• Laurence Haughton, “It’s Not the Big that Eat the Small,” draws on research from his book to explain how to think and act quickly to stay ahead of your bigger competitors.

For exact dates and further information on the seminars available, please visit www.mastercardbusiness.com or www.officeliveseminars.com. 

*NO PURCHASE NECESSARY. Void where prohibited. PIN-based/international transactions ineligible. Starts 5/1/07. Ends 6/30/07. Eligibility and other restrictions apply. Call 1-800-MC-ASSIST or visit www.mastercardbusiness.com or Official Rules and complete guidelines.

About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 16 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.

About Microsoft Office Live
Microsoft Office Live is a complete, affordable set of easy-to-use Internet-based tools that helps small businesses attract new customers, keep in touch with existing customers and easily manage their business from any location. By combining the power of software plus services, Office Live helps small businesses establish a professional Web presence, stay in touch with their customers, and easily access company information from one complete online location. For more information, please log onto www.officelive.com.