Is The Economy Killing Small Biz?
Let’s take a quick look back at the evidence regarding small business in general, not just one specific industry. Since we’re nearing the end of the month, pretty soon we’ll be seeing reports about what small-business people really feel about the economy in the month of May, so it’s worth looking at the overall state of their optimism (or pessimism) before we move on.
Opinion Research Corp. released a poll earlier this month that found that 88 percent of small-business people think that the economic problems will pass and their businesses will do well in the future. The downside was that two thirds said they were feeling harm to their businesses because of the bad economy.
The National Federation of Independent Business’s Small Business Trends released last week had some interesting statistics: The Optimism Index bounced back from 89.6, its lowest score ever, to 91.5.
Still, that’s lower than any level of optimism recorded by NFIB’s survey in at least the last five years.
Another small positive sign: The number of small-business people who think that their business conditions will get worse over the next six months fell from 1 in 4 in March to 1 in 10.
Photo by Egahen.
Scott Randolph on May 26th, 2008 4:30 pm
We’re seeing lots of small business folks doing quite well with our system – it’s all about how you work it!
jeflin on May 26th, 2008 5:42 pm
Bad economic times actually force more people to go into small businesses as unemployment increases. There will be some tears but also success stories along the way.
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