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At the same time, only 5% of respondents feel that the federal government has a positive
and supportive attitude toward the support of the American Indian Art business, or of
small business in general while 40% believe that the federal government is not supportive
of the industry. Nearly half of the respondents have no feeling one way or another on the
subject.
Outlook and Thoughts
2013
2012
Feel Business Will Grow
53%
68%
Will Not Add Employees
63%
68%
Federal Govt Not
Supportive
50%
40%
Federal Govt Supportive
13%
5%
Cost of Business and Actions Taken
Over 65% of respondents have felt the costs of business increase over the previous 12
months, which is the same as reported in the 2011 market survey
2012
2011
Costs Have Increased
65%
65%
The major contributors to the increase business costs are
inventory costs – 54%
materials and supplies – 54%
travel and expenses – 39%
marketing – 28%
The economic pressures have forced respondents to take a number of actions to offset the
expense increases, including:
Reducing travel – 44%
Reduce stock on hand – 43%
Price reduction – 35%
Change product offerings – 31%
Marketing the Business
Overall, 47% of reporting businesses invest less 5%, or less of their annual sales into
marketing and advertising. Nearly 35% however, invest over 5% of their annual sales
into marketing and advertising, with 4% reporting marketing and advertising expenses to
exceed 15% of annual sales.
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