There appears to be a gap in the market. In a challenging economy, small business owners understand how differentiating their brand can lead to greater success, yet very few business owners appear to value branding specialists or even know they exist.
MARKHAM, ON — Survey results released on Monday by the Small Business Services division of American Express Canada reveal that although the vast majority of small business owners recognize the importance of branding to their success they aren’t likely to seek the expertise of branding professionals.
A sample of 529 Canadian small business owners (companies between two and 100 people) were surveyed in the second half of May. Among this sample, 36% of respondents admit they are interested in expanding their brand but don’t know where to start.
According to the survey 84% recognize the importance of their brand to the company’s overall success, yet 86% of small business owners choose not to use outside experts, with 29% handling the development of their business’ brand internally.
“It is surprising to see that the majority of small business owners aren’t investing in the necessary third-party resources to help them develop and refine their brand,” says Athena Varmazis, vice president and general manager, Small Business Services, American Express Canada, in a release. “Branding plays a significant role in the overall success of their business and shouldn’t be taken lightly by business owners.”