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Out of Touch with Reality
I took advantage of the recent "inconvenience" created by Hurricane Sandy (no heat, power or phone for days at my house) to catch up on some reading. One article made me smile with amusement and just a little disbelief. The article was a survey report for SpendingPlus for Small Business, conducted by MasterCard Advisors in tandem with Wells Fargo. The report was noted that smaller retailers were seeing their sales momentum increasing slowly but steadily; for year-to-date of the report, small store sales had increased 8 percent compared to the 5.9 percent for total retail sales. This is good news, yes? So why was I amused? "Small" was defined as having less than $35 million in sales and fewer that 200 employees on the payroll. Really? That is not "small" in my book. I think that MasterCard had better redefine what "small" means.