Small Business Optimism
If you spend enough time following the news, it's
enough to make you wonder if small business can
survive. Granted, things like the falling housing
market and soaring gas prices are certainly real
problems for everyone.
However, when you hear about some corporate-type whining that they had to give up their Starbucks because the economy's so bad, the line between real problems and a shortage of common sense becomes pretty blurry. So, is the sky really falling? According to a
recent study, small business owners say no.
The study, which surveyed more than 700 small
business owners with 100 or fewer employees, found
that 90% said they see
opportunity under current economic conditions and
75% said they expect their business to grow.
Nearly half of those surveyed said the economy
levels the playing field between small business
and their corporate counterparts, and 65% said
they have had experience leading their business
through a tough economy. 63% of those
surveyed say it's about customer retention, and
others say it's maintaining good cash flow, which
is a big part of what drives small businesses
and allows them to do well in any economy.
Small businesses are able to fair better in an
economic downturn because they think fast. They
are in a better position to move very quickly in
terms of how they align their resources. That's
just the way they're used to doing it, in good
times and bad. It all goes back to the passion
they have for their business and their customers.
In spite of where the economy is currently headed,
America's entrepreneurial spirit has never been
stronger. People are going to see that, as small
businesses continue to grow and are a more
important part of the economy, it will boost
entrepreneurship even more.
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