Leading small business finance company Reliant Funding surveyed small business owners to gain insight into sentiments on operations, business growth, business health and primary investment plans for 2018. The survey also revealed how they managed debt and savings, as well as their sentiment on alternative finance providers.

According to the survey, 41 percent of business owners report they do not have a financial backup plan in place in the event of an emergency. The majority of those who do have one, have between $10k - $25k in emergency savings. Considering recent natural disasters, businesses both directly and indirectly impacted by these events are facing the challenge of resorting to their financial back up plan.

The survey also explored the level of familiarity small business owners have with alternative finance. A significant portion surveyed (39 percent) have never heard of it. 49 percent are familiar, but have never used alternative finance services. Those who heard of alternative financing and used the services (12 percent), said they did so primarily because a bank would delay them in getting the cash they needed. Other reasons cited for using alternative finance included: credit history, loan application rejections and long application processes

"The alternative financing sector is a powerful tool for small business owners. Our survey reflects the idea that timing and cash flow go hand in hand for small business. In many instances, if there was an emergency or an immediate need for cash, traditional banks could not deliver in the time frame needed," said Founder and CEO of Reliant Funding, Adam Stettner.

It is important to note that the survey revealed that just over half of SMB owners surveyed were women. On a lighter note, over one-third of small business owners will not organize a holiday celebration for their employees. At least not yet!