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Hawai'`i SmallBiz Week Newsletter from The Business Research Library (BRL) |
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| OF THE HAWAI`I SMALL BUSINESS
DEVELOPMENT
CENTER bETWORK A Partnership Program between the University of Hawai`i at Hilo and the U.S. Small Business Administration | ||
| 31 March 1998 | A Summary of News for Small Business in Hawai`i | Volume 2 - Issue 4 |
HAWAI`I
•Hawaii's Retailers Have Alot To Think About
•Business Failure Rates Increase
•Japanese Couples Pick Hawai`i First For Weddings
•
NATIONAL
•Small Business Shows An Increase In Personal Computer Use
•30% Of Home-Based Businesses Work Full-Time
•Characteristics Of Small Business Detailed In New Report
•One In Four Internet Users Make Travel Plans Online
HAWAI`I
HAWAI`I'S RETAILERS HAVE ALOT TO THINK ABOUT.
Alot of changes are happening in Hawai`i's retailing industry. Retail revenues
are predicted to decrease in 1998 versus 1997 largely due to the combination
of job layoffs of major local companies and a consumer desire to save for
a rainy day. Consolidations of luxury goods retailers will bring fewer and
more powerful players to the market. The need to define market share will
become increasingly crucial. More importantly, the retail community needs
to work with government to promote retail as the visitor market's number
one activity. (Pacific Retailer, January-March 1998)
BUSINESS FAILURE RATES INCREASE
Hawai`i business failure rates increased 59.5 percent between 1996 and 1997.
By the 1996 year-end, 395 Hawai`i business had failed. By the 1997 year-end,
630 businesses had failed amounting to a 108% increase in liabilities over
the two years. Business failure statistics include businesses that ceased
operation following assignment or bankruptcy; ceased operation with losses
to creditors after such actions as foreclosure or attachment; voluntarily
withdrew leaving unpaid obligations; were involved in court actions such
as receivership, reorganization or arrangement; or voluntarily comprised
with creditors. (Dun & Bradestreet 1997 U.S. Business Failures, Volume
39-Supplement)
JAPANESE COUPLES PICK HAWAI`I FIRST FOR WEDDINGS
According to a new industry survey by the Japan Travel Bureau Inc.(JTB),
Japan's biggest travel agency, Hawai is the first choice for Japanese couples
holding their weddings in foreign countries. The U.S. mainland remains the
first choice when it comes to honeymoon destinations (not including weddings)
and Hawaii is second for the third year in a row. The main reasons for Hawaii
ranking so high among Japanese couples, according to JTB, is "the fact
that Japanese is widely understood, the weather is good and the distance
not too far from Japan. (Honolulu Star-Bulletin, 30 March 1998)
SMALL BUSINESS SHOWS AN INCREASE IN PERSONAL COMPUTER
USE
According to an International Data Corp. survey report entitled "Targeting
the Small Business PC Market, 1997", use of personal computers by U.S.
small businesses grew from 73 percent in 1996 to 78 percent in 1997, ending
several years of flat to modest increases. The increase is tied to lower
PC prices, development of easy-to-use software for key business applications,
the rise of the Internet as a small business tool, and an increase in computer-literate
small business owners. A more indepth abstract of the report is available
at www.idcresearch.com/F/HNR/325.htm.
(International Data Corp. web site, www.idcresearch.com, 1998)
30% OF HOME-BASED BUSINESSES WORK FULL-TIME
According to new calculations made by the U.S. Small Business Administration's
Office of Advocacy from data collected by the Census Bureau, about 30 percent
of owners of home-based businesses work more than 40 hours per week. Other
highlights include: of the 30 percent full-time home-based business owners,
12 percent produced a product or service, about 14 percent used the home
for clerical work, and about 5 percent telecommuted. Also, women owners
were more likely to produce a product or service in the home. Information
on Characteristics of business Owners is available onthe Census Bureau's
Web site at www.census.gov/agfs/www/cbo.html.
(Small Business Advocate, March 1998)
CHARACTERISTICS OF SMALL BUSINESS DETAILED IN NEW
REPORT
U.S. small businesses hire a larger proportion of employees who work part-time,
are under age 25, are over age 65, are high school graduates or have less
education, and are on public assistance, according to a new report just
released by the U.S. Small Business Administration's Office of Advocacy.
Covering the period 1992-1996, the report details the differences between
the small- and large-firm forces and also presents various attributes of
small business owners. Chief Counsel for Advocacy Jere W. Glover notes that
"these data demonstrate the soundness of linking job creation initiatives
to small business. Not only do small firms hire and train most new workers;
they also hire more workers coming off welfare. The statistics also reinforce
the argument that obstacles must be overcome that hamper small business
efforts to provide pension and health care benefits." This report is
available at www.sba.gov/ADVO/stats/ch_front.html.
ONE IN FOUR INTERNET USERS MAKE TRAVEL PLANS ONLINE
According to the Travel Industry Association of America (TIA), one in four
current Interent users have made travel plans or reservations online; up
from one in ten in 1996. All travelers surveyed said they used the Internet
more and travel agents less in the past year. For the population as a whole,
including Interent users and nonusers, people are 32 percent more likely
to use the Internet to find things to do, 31 percent more likely to look
for maps, 27 percent more likely to research types of vacations, 26 percent
more likely to check on schedules, 23 percent more likely to compare prices,
20 percent more likely to investigate places to go, and 19 percent more
likely to make reservations. For more information, contact TIA at 202-408-8422.
(American Demographics, February 1998)