Office Depot Small Business Index survey revealed most SMBs did not use tax software in 2016

BOCA RATON, Fla., 2017-Mar-07 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ:ODP), the leading global provider of office products, services, and solutions revealed in its latest Small Business Index survey that approximately three-fourths (70 percent) of small business owners (SMBs) indicated they did not use tax software when they filed their taxes in 2016. The survey results also showed that one in four (24 percent) of large SMBs (those with 50-99 employees) still use paper forms compared to the 20 percent that reported they were using online tax software.

“With the availability of tax software at office supply stores like Office Depot and OfficeMax and the variety and ease of use of tax software available today, such as TurboTax or H&R Block, SMBs should strongly consider transitioning to tax software,” said Christine Nessen, senior director of contract marketing for Office Depot, Inc. “Tax software can provide SMB owners with the flexibility to file their taxes at their own pace.”

One in every 10 SMBs (11 percent) waited to file their taxes on Tax Day or asked for an extension. The survey results also revealed that 21 percent of SMBs indicated that they were looking to use more technology and/or use less paper while filing their taxes in 2017, out of the 61 percent who indicated that they were looking to make changes in how they filed their taxes this year.

“Owners of businesses large and small should aim to start organizing their paperwork at least one to two months before Tax Day so they don’t feel the stress of filing last minute or asking for an extension,” said Nessen. “Office Depot has a variety of products to help SMBs organize their paperwork, shred sensitive documents and file their taxes.”

With tax season approaching rapidly, Office Depot and OfficeMax stores are the one-stop shop for all tax-related needs, for both SMBs and consumers. With a variety of services ranging from tax software, to shredding and copying services, to small business experts, Office Depot and OfficeMax stores have everything SMBs need to successfully file their taxes.

Survey Methodology/Sample Qualifications

Interviews are conducted online among a nationally representative sample of small and medium-sized businesses. The wave of interviewing was conducted from October 15 – December 30, 2016 among a total of 1,500 small and medium-sized businesses.

For more SMB resources and tax tips visit Office Depot’s Ideas Center at officedepot.com/cm/collections/ideas.

About Office Depot, Inc.

Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school or car.

The company had annual sales of approximately $11 billion, employed approximately 38,000 associates, and served consumers and businesses in North America and abroad with approximately 1,400 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – with a global network of wholly owned operations, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot, OfficeMax and Grand & Toy. The company’s portfolio of exclusive product brands include TUL, Foray, Brenton Studio, Ativa, WorkPro, Realspace and HighMark.

Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol “ODP.”

All trademarks, service marks and trade names of Office Depot, Inc. and OfficeMax Incorporated used herein are trademarks or registered trademarks of Office Depot, Inc. and OfficeMax Incorporated, respectively. Any other product or company names mentioned herein are the trademarks of their respective owners.

Contact:
Julianne Embry
561-438-1451
Julianne.embry@officedepot.com

APCO Worldwide
Lauren O’Leary
646-556-9323
loleary@apcoworldwide.com

Source: Office Depot, Inc.

Office Depot Small Business Index reveals primary holiday season concerns for SMBs owners

BOCA RATON, Fla., 2016-Nov-03 — /EPR Retail News/ — Office Depot, Inc. (NASDAQ: ODP), a leading global provider of office products, services, and solutions, through its Office Depot and OfficeMax brands, released the results of its latest Small Business Index which found that the primary holiday season concerns for small and mid-sized business owners (SMBs) are cash flow (32 percent) and productivity (23 percent). The Index also revealed that nearly one-in-three SMBs (30 percent) indicated they could benefit from hiring temporary employees during the holidays.

“Almost one-quarter of small business owners are concerned with productivity during the hectic holiday season,” said Christine Nessen, senior director of contract marketing for Office Depot, Inc. “At Office Depot, we understand the needs of small business owners, and strive to provide all the necessary business solutions, products and services, that can help small businesses stay organized, productive and on-task.”

To finish the year on a strong note, Nessen suggests SMBs should develop an end-of-year strategy to maintain momentum, such as hiring extra seasonal staff.

Of the SMBs that say they could benefit from extra seasonal help, 87 percent plan to hire temporary employees, with the majority (37 percent) planning to hire six to 10 seasonal workers.

“Building a strategy helps owners plan for business changes – such as business influxes and hiring needs – to stay on track during the busy holiday season,” said Nessen. “In addition, maintaining momentum helps meet end-of-year sales goals, deadlines and successfully plan for the next year, which 18 percent of SMBs list as a concern.”

Taking time off to recharge is also critical so that small business owners don’t burn out during the hectic holiday season. Only one-in-four SMBs (27 percent) plan to work during the holidays, which shows that a majority of small business owners understand the benefit of taking a step back to reorganize schedules and prioritize family time.

Small business owners can better enjoy the holiday season using these tips:

  • Develop a plan prior to the start of the holiday season to ensure tasks are completed and business operations stay on schedule.
  • Hire seasonal staff to help with increased business needs and to allow for full-time employees to take time off during the holidays.
  • Take time to unplug from work and spend quality time with family and friends.

Small business owners need to be nimble and resourceful – especially during the holiday season. To assist SMBs as a key business partner, Office Depot and OfficeMax offer the following resources:

  • Print & Tech Services – Onsite tech repair and quality custom printing services for all SMB needs.
  • One-Hour In-Store Pick-Up for Online Orders 1 – Time is precious for every small business owner, and this service maximizes time.
  • Free Delivery – A competitive necessity for any small business in order to get the right gear while keeping costs down (for qualifying $35 online orders within our local delivery areas).

To learn more about small business resources, products and services please visit Office Depot’s Business Solutions Center.

Survey Methodology/Sample Qualifications

Interviews are conducted via the Internet among a nationally representative sample of small and medium-sized businesses. The Quarter 3 wave of interviewing was conducted from July 15, 2016 to September 30, 2016 among a total of 2,858 small and medium-sized businesses. Interviewing will be conducted on a monthly basis in order to track shifts that occur over time.

About Office Depot, Inc.

Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school or car.

Office Depot, Inc. is a resource and a catalyst to help customers work better. We are a single source for everything customers need to be more productive, including the latest technology, core office supplies, print and document services, business services, facilities products, furniture, and school essentials.

The company has annual sales of approximately $14 billion, employs approximately 49,000 associates, and serves consumers and businesses in 59 countries with approximately 1,800 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – all delivered through a global network of wholly owned operations, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot, OfficeMax, Grand & Toy, and Viking. The company’s portfolio of exclusive product brands include TUL, Foray, Brenton Studio, Ativa, WorkPro, Realspace and HighMark.

Office Depot, Inc.’s common stock is listed on the NASDAQ Global Select Market under the symbol ODP. Additional press information can be found at: http://news.officedepot.com.

1 Orders must be placed 2 hours before store closing time. Copy and Print Services will vary and are subject to the terms of each order disclosed at checkout. Visit officedepot.com/pickup for details.

Contact:
Sarah England
561-438-1448
sarah.england@officedepot.com

Source: Office Depot, Inc.