Small-business decision makers are shaken by deteriorating economic conditions and are increasingly worried for the future of both the economy and their organizations, a new City Business Journals Network survey shows.
The nationwide survey of 206 owners, presidents and CEOs of businesses with five to 499 employees was conducted Nov. 17-23 and suggests there has not been an “optimism bump” after the election of Barack Obama as president, at least not in small-business circles.
The SMB Insights survey shows that most respondents are worried about the economy, expect a long downturn, and are more pessimistic about their own companies’ prospects than they were a short time ago.
Business owner sentiment mirrored the most recent Beige Book report from the Federal Reserve. The anecdotal report from the Federal Reserve’s regional banks showed weakness across all sectors, in every region of the country.
Photo by Llima.