Majority of Small Business Owners Have Not Adopted Cloud Computing

Aug 06, 2015, 09:28 ET from Newtek Business Services Corp.

NEW YORK, Aug. 6, 2015 /PRNewswire/ -- Newtek Business Services Corp., (NASDAQ: NEWT) (www.thesba.com) 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 over 1,000 respondents, the key finding from the July survey is 60% of business owners do not currently store their data in a datacenter. Additionally, 60% of business owners have not yet migrated into the cloud.

The full July 2015 results showed the following:

Poll Question

Poll Answer

Percentage

Is your data stored in a
datacenter?

Yes

40%

No

60%

Has your company migrated
into the cloud?

Yes

33%

No

60%

Unsure

7%

Barry Sloane, Chairman, President and CEO of The Small Business Authority® commented, "The concept of cloud computing is still foreign to many independent business owners. Having all hardware, software and data available off-premise 24/7 should and will be a requirement for good business practice going forward. The cloud for small business reduces:

  • Cost of servers
  • In-house or external labor costs
  • Power costs
  • Bandwidth cost

The cloud is arguably much more secure and, all around, a better solution for business than non-cloud based technology. We hope our small business clients in next year's survey come around to embrace cloud computing in bigger and more robust ways."

About Newtek Business Services Corp.

Newtek Business Services Corp., The Small Business Authority®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business ("SMB") market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 SMB accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.

Newtek's products and services include: Business Lending, Electronic Payment Processing,  Managed Technology Solutions (Cloud Computing), eCommerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage, Insurance Services, Web Services, Data Backup, Storage and Retrieval and Payroll.

The Small Business Authority® is a registered trade mark of Newtek Business Services Corp., and neither are a part of or endorsed by the U.S. Small Business Administration.

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." 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 www.sec.gov

For more information, please visit the following websites:
www.thesba.com

Contacts:
Newtek Business Services Corp.
Barry Sloane
Chairman and CEO
212-356-9500
bsloane@thesba.com

FROM:
Newtek Business Services Corp.
http://www.thesba.com
Contact: Simrita Singh
Telephone: (212) 356-9566 / ssingh@thesba.com
Investor Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / jcavuoto@thesba.com

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SOURCE Newtek Business Services Corp.



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