Western U.S. Has More Faith in 'Move Your Money' to Help Small Biz Grow Than Other Parts of Country

Friday, May 7, 2010 by Mark Harbeke

In Winning Workplaces' latest IDEAS newsletter on employee engagement and team building strategies in small firms, we wrote a feature on the "Move Your Money" movement after we sent a survey on it to registered users of our website and others in our network.

We listed selected qualitative feedback of our 172 respondents to the question, What do you think of this movement's potential to help small businesses grow, and the impact it will have on the U.S. economy?  Based on the feedback, we then assigned an "impact level" rating of Low, Moderate, and High.

In our survey we also asked respondents to list their state.  This enables us to sort responses to the above question by region, maintaining the impact level rating of each piece of feedback.  The visualized data on this was something outside the scope of our original article, due to length, so I present the data here, as shown on the U.S. map below that's been segmented into regions:

Note: The majority of responses are from folks based in Illinois, as that's where we're located and do most of our on-site organizational work.

Even though for balance we included an equal share of "Low" impact level responses in our original article, compared to "Moderate"- and "High"-level responses, when we review all responses by geographic region, we see that the West just barely registered into the "High" level area.  The rest of the country – again, based on our survey sample – is squarely in the "Moderate" zone.

The takeaway here is that while we noted in our newsletter article that less than a fifth of respondents have moved their business accounts from larger to smaller banks, or know another business leader who has, all of them believe the movement has the potential to make at least a moderate impact on small business, and economic, growth.  Those in the West believe it will have a greater impact.

Related: Two of the small firms we recognized for seeing a payoff of employee engagement are on the Move Your Money list.  See which two here.

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