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Business Owners Waiting For The Right Climate To Grow
President Obama’s job speech will be later today, and many business owners are apprehensive about what they will hear. A recent survey shows that entrepreneurs are ready to grow their businesses, but they are waiting for the right moment.
Citibank’s latest small business survey, released Tuesday, found that 49% of small business owners are holding their own, but are poised to grow when the climate is right, while 28% of businesses reported they are already in growth mode. Additionally, 79% of respondents said they are prepared if the economy were to take a turn for the worse, showing the recession’s impact was lasting.
The health of the economy is, of course, a top concern for these small business owners, with 90% reporting they are concerned about a double-dip recession.
Small business owners are also feeling accountable for the country’s recovery, the survey found. Sixty-six percent of respondents said they feel they are very responsible for the recovery, while 28% said they are “somewhat” responsible for the recovery.
The biggest challenges they have faced throughout the past few years have been taxes, insurance and/or benefit costs (65%), declines in sales and poor economic conditions (61%) and personal stress from being accountable for everything and everyone (60%).
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Accounting Firm on September 19th, 2011 8:40 pm
The market now want stable foundation to grow up, the speak of increase tax and all this not stable news from Europe making all businesses think twice to start grow up or make new extension for them businesses.
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