That said, I am happy to see that even though times have been tough, small businesses are keeping a stiff upper lip. According to a new survey conducted by EMPLOYERS®, America’s small business insurance specialist® (through ORC/Inforgraphics), almost half of small business decision-makers (46%) feel that the U.S. Economic Outlook will be better this year than last— a significant improvement compared to 25% measured when they did the study in Dec. 2008. And, 41% of small business decision-makers expect their revenue to grow this year over 2010 levels.
While the survey showed a ray of hope glimmering in the eyes of small business decision-makers, it did show some lingering pessimism. Specifically:
- 69% of small business decision-makers say that some worry about their business keeps them up at night.
- The most often reported worries were: the economy, figuring out how they can grow/maintain their business, operating expenses and rising fuel prices.51% of small business decision-makers believe it will be more than 12 months before their sales revenues return to pre-recession levels.
- 49% of small business decision-makers say it will be more than six months before they begin hiring again.
Here’s how they did the study: The study commissioned by EMPLOYERS surveyed 501 owners or managers of small businesses with 1-99 full-time employees. Data was collected through telephone interviews during the period February 23 – March 1, 2011 at the 95 percent confidence level. The survey was conducted by ORC International, an Infogroup company through their Small Business CARAVAN.
That’s how the average small business owner is feeling…what about you? Are you bullish or bearish about the U.S. Economic Outlook in 2011?