11/08/2011

"77 percent of small business owners do not plan to hire any more workers"

The Small Business Accounting Solutions Perspective on Economic Recovery survey couldn't be much worse. From US News:

• 64 percent of respondents believe that the U.S. is either in or is headed toward another recession.

• 65 percent of business owners believe the economy has had a negative impact on their business for the last six months; 45 percent believe the economy will have a negative impact on their business during the next six months.

• 45 percent of business owners don't feel the economy has an impact on the number of employees they have.

• 77 percent of business owners think they will maintain the number of employees they have; 7 percent believe they will increase their employee count over the next six months and 8 percent believe that they will decrease their employee count over the next six months.

• 48 percent of business owners would like to hire but can't because of various reasons including economic uncertainty (65 percent), lack of revenue (59 percent).

• 77 percent of small business owners have sought access to financing this year; 67 percent found it more difficult to obtain financing than in the past; 61 percent were able to obtain the financing they were looking for.

• When asked about the effect the U.S. debt downgrade would have, 31 percent responded negative, 41 percent said no effect, and 27 responded don't know.

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