Barry recently surveyed 10,000 people on the State of Small Business. Here is what they said:
1. How has the recession affected your business?
36% stated that their customers are cutting budgets and spending less as a result.
31% said they are cutting their personal budget in response to this change.
22% said that their business is countercyclical and their business is increasing!
Comments from the survey:
“I am losing business at the same rate I am gaining it. High quality service will always be in demand.”
“It has not impacted my business but my clients seem distracted and decision making is slowed down.”
“I am really worried. My husband is out of work and we are now dependent on my salary.”
“I put my startup on hold until next year!”
2. What help do you need to thrive in a recession?
55% said they need help in finding more customers.
27% said they need help in matching revenues with expenses.
3. Can President Elect Obama help small business and the economy in the first 100 days?
People were evenly split 50/50 on whether Obama can help in the first 100 days. Most are hopeful but realize it will take a long time.
Comments from the survey:
“He will focus on the sinking ships of big business!”
“They all say that small business drives the economy and they do nothing about it!”
4. How long will the recession last?
64% stated it will be 2-3 years!
5. My daily mood at business can be characterized as:
54% -” I have good days and bad days but am resilient ”
43% – ” I face everyday with a sense of opportunity and hope ”
Comments:
“I have learned to bounce but still struggle at times maintaining focus on the next good bounce rather than the latest bad one.”
“I am staying away from the media since they peddle disaster…”
“Confused because what I see in my business does not match what I see on TV.”