A report by Forbes and b2b agency Doremus, New York, found that 76% of small and midsize business owners are willing to pay more to get what they want when it comes to business purchases.
The study, “Engine of Growth: Understanding the SMB Decision-makers,” was based on an online survey of more than 700 SMB owners, conducted during the second half of 2010.
The study found that 82% of SMB owners turn to specialists rather than one-stop solution providers for services, even if it means managing more vendors.
Also, 65% use materials they receive from vendors and 59% use trade magazines to help them select products and services.
The study also found that three-quarters of small and midsize business owners rely on word-of-mouth referrals or the Internet when comparison shopping for vendors or services.