Many small-business owners are concerned about outlasting the recession, according to a survey by CNNMoney. In the survey, CNN asked owners eight questions, including:
Q: Is your business better off or worse off than it was one year ago, or is it about the same?
A: Forty-four percent cited their business as being worse off, 18 percent said better off, 37 percent said business is about the same and 1 percent of respondents were unsure.
Q: Does the recession have you concerned about going out of business?
A: The recession has 13 percent of respondents very concerned, 36 percent somewhat concerned, 16 percent somewhat unconcerned, 31 percent not at all concerned and 3 percent unsure.
Q: How have you responded to the economic crisis? (Respondents were asked to check all that applied.)
A: Twenty-seven percent of respondents are scaling back on expansion plans in response to the economic crisis, 23 percent are cutting back on marketing, 19 percent are freezing salaries, 17 percent are in a hiring freeze, 14 percent are laying off staff and 9 percent were unsure or doing something other that what was listed. On a good note, a whopping 48 percent of respondents said that they were not doing any of the above in response to the economy.
To read the other five questions and answers, click here.
Source:
CNNMoney: Entrepreneurs Cut Back
