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New research shows some U.S. small businesses walking a tightrope by relying on one customer for half or more of their revenue.
However, the ninth annual DNA of an entrepreneur report from Hiscox (LON:HSX) is mostly good news.
Some Small Businesses Rely on a Single Customer
The downside reports that one in six small businesses (16 percent) rely on one customer for the lion’s share of their revenue. The types of small businesses most guilty of relying on just a single customer for the balance of their business are transportation companies (34 percent) and business services (32 percent). Although the average figure was around a quarter of total revenue, there are wide variations in the numbers.