Nine of Ten Small Business Owners Say They Give to Local Non-Profits
November 15 2005 - 8:02AM
PR Newswire (US)
New Wells Fargo/Gallup Survey Shows Majority of Small Business
Owners Contribute Money to Local Charities; Over 50% Volunteer Time
on Community Projects SAN FRANCISCO, Nov. 15 /PRNewswire-FirstCall/
-- Small business owners are active in their communities and
generous with charitable contributions, according to the latest
Wells Fargo/Gallup Small Business Index. Almost nine of every ten
small business owners responding to the recent national survey say
they give money to non-profits in their communities and almost six
of every ten say they contribute their time. The survey also found
that four of every ten small business owners say they're more
likely to become even more involved in their communities in the
coming year. More than half say a crisis or natural disaster would
increase their level of community involvement. Eight of every ten
small business owners surveyed say they believe their community
efforts, whether money or time, benefit the communities they serve
more than their own business. More than half say they participate
in community outreach because they personally enjoy the activity,
and another 43 percent because "it's the right thing to do." Only
six percent do so because of potential business benefits. "Giving
back and demonstrating concern for their neighbors are core values
to small business owners," said Rebecca Macieira-Kaufmann, head of
Wells Fargo's small business segment. "We know the vital role these
businesses play in the U.S. economy, and equally important is the
role they play in shaping our communities. Their leadership is
invaluable, and their commitment and generosity help grow and
strengthen our communities." Despite recent natural disasters and
rising energy and fuel prices, the Index rose seven points to 106
this quarter. According to respondents, the rise is mainly
attributed to owners' ability to obtain credit this past year, with
increased optimism about their company's cash flow versus a year
ago. The Index tracks six key measures for both current conditions
and future expectations as reported by small business owners:
current financial situation, revenues, cash flow, capital spending,
number of jobs, and credit availability. Since the third quarter of
2003, the Wells Fargo/Gallup Small Business Index has surveyed
small business owners on their perception of current conditions and
future expectations relating to financial situation, revenues, cash
flow, capital spending, number of jobs and credit availability.
About Wells Fargo Wells Fargo & Company is a diversified
financial services company with $453 billion in assets, providing
banking, insurance, investments, mortgage and consumer finance to
more than 23 million customers from more than 6,200 stores and the
internet (wellsfargo.com) across North America and elsewhere
internationally. Wells Fargo Bank, N.A. is the only bank in the
United States to receive the highest possible credit rating, "Aaa,"
from Moody's Investors Service. Providing financial products and
services to more than one million businesses with annual sales up
to $20 million in all 50 states, Puerto Rico and Canada, Wells
Fargo is the #1 lender to small businesses in the United States in
total dollar volume according to the most recent CRA data (2003).
The second largest national SBA lender in dollars, Wells Fargo is
an SBA Preferred Lender in 28 states, and originated 4,165 loans
for $579 million in 2005. Its diverse business services programs
provide outreach and education to women, African American, Latino,
and Asian business owners about financial services. Since 1995,
Wells Fargo has loaned more than $27 billion to women and minority
business owners. About the Gallup Organization For more than 60
years, the Gallup Organization has been a recognized leader in the
measurement and analysis of people's attitudes, opinions and
behavior. While best known for the Gallup Poll, founded in 1935,
Gallup's current activities consist largely of providing marketing
and management research, advisory services and education to the
world's largest corporations and institutions. DATASOURCE: Wells
Fargo & Company CONTACT: Sarah E. Pew of Wells Fargo &
Company, +1-415-396-0866, or Web site: http://www.wellsfargo.com/
Copyright