NEW YORK, Oct. 31, 2011—Newtek Business Services, NASDAQ: NEWT, The Small Business Authority, with a portfolio of over 100,000 business accounts, announced today the findings of its SB Authority Market Sentiment Survey, a monthly window into the concerns of independent business owners. Based on a poll of approximately 2,200 respondents, one of the key findings from the October survey is 57 percent of business owners are using social media to attract new customers and over 58 percent are using these tools to communicate with existing customers. In addition, 55 percent of business owners state that Facebook and Twitter are significant engines of growth for their business.
The full October 2011 results showed the following:
Do you use Facebook, Twitter or other forms of social media to attract new customers in your business?
Yes: 57%
No: 43%
Is social media (Facebook, Twitter, etc.) a significant engine of sales growth for your business?
Yes: 55%
No: 45%
Do you use social media (Facebook, Twitter) to communicate with your current customers?
Yes: 58%
No: 42%
Barry Sloane, Chairman, President and CEO of The Small Business Authority commented, “We appreciate the record response to our recent poll with our own customers regarding their interest in, reliance on and use of social marketing and networking. We are pleased by the popularity of social networking and marketing and its adoption by such a large proportion of the respondents. This may be based upon the fact that many business owners today tend to blend their business and personal lives into a consolidated function. It is not surprising that a large percentage of our small, independent business owner clients utilize Facebook, Twitter, and other forms of social media to communicate with their clients and suppliers. It is clearly the most cost effective, efficient utilization of the Internet particularly for a small, independent business owner that does not have huge resources in staff or dollars. We believe that the early adopters using this form of marketing and communication will be heavily rewarded and late participants will have more challenging entry points. The Small Business Authority is available and ready to help small- and medium-sized businesses with their social media needs.”
About Newtek Business Services, Inc.
Newtek Business Services, The Small Business Authority, provides the following products and services:
Electronic Payment Processing: eCommerce, electronic solutions to accept non-cash payments, including credit and debit cards, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs.
Managed Technology Solutions (Cloud Computing): Full-service web host, which offers eCommerce solutions, shared and dedicated web hosting and related services including domain registration and online shopping cart tools.
eCommerce: A suite of services that enable small businesses to get up and running on-line quickly and cost effectively, with integrated web design, payment processing and shopping cart services.
Business Lending: Broad array of lending products including SBA 7(a) and SBA 504 loans.
Insurance Services: Commercial and personal lines of insurance, including health and employee benefits in all 50 states, working with over 40 insurance carriers.
Web Services: Customized web design and development services.
Data Backup, Storage and Retrieval: Fast, secure, off-site data backup, storage and retrieval designed to meet the specific regulatory and compliance needs of any business.
Accounts Receivable Financing: Receivable purchasing and financing services.
Payroll: Complete payroll management and processing services.
Newtek Business Services, Inc., The Small Business Authority, is a direct distributor of a wide range of business services and financial products to the small- and medium-sized business market under the Newtek® brand. Since 1999, Newtek has helped small- and medium-sized business owners realize their potential by providing them with the essential tools needed to manage and grow their businesses and to compete effectively in today’s marketplace. Newtek provides its services to over 100,000 business accounts and has positioned the Newtek® brand as a one-stop-shop provider of such business services. According to the U.S. Small Business Administration, there are over 27.5 million small businesses in the United States, which in total represent 99.7% of all employer firms.
Note Regarding Forward Looking Statements
Statements in this press release including statements regarding Newtek’s beliefs, expectations, intentions or strategies for the future, may be “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek’s actual results to differ from management’s current expectations, are contained in Newtek’s filings with the Securities and Exchange Commission and available through http://www.sec.gov.