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Posts Tagged ‘small business confidence’

Is The Outlook For Small Business Awfully Good Or Just Plain Awful?

By John Joyce on April 13, 2010 - Comments 0

Good morning/afternoon, my name is John/Jeff and I would like to empower/scare you with some scientific research data that illustrates how great/terrible the outlook is for small business owners.

Yesterday, the American Chamber of Commerce Executives (ACCE), SCORE, and the Association of Small Business Development Centers (ASBDC), along with Constant Contact, released survey results stating that Seventy-nine percent of small businesses revealed a confident to neutral outlook for the U.S. economy over the next 12 months.

Key findings from this survey of nearly 7,000 small business respondents are as follows:

– Small businesses anticipate growth in 2010

– Small businesses are doing more with less

– Small businesses look for new efficiencies as costs increase

– Small businesses question government support

However, this morning, the National Federation of Independent Business monthly business index stated, “U.S. small business owners have little confidence in the economy and are in no rush to hire or expand, despite signs the recovery is picking up”.  The interpretation of this number is extremely negative and points to a lack of confidence in the economy but, more importantly, a realization that Congress and the Obama administration have offered nothing to help small businesses grow during these difficult times.

So, what does this mean?  Are things good or are they bad?  I’ve begun to just chuckle at this type of seemingly impossible conflict of data collected from the same overall pool.  I’m sure both are scientifically sound but to have such disparity in results is confounding for business owners.  Should we double-up or start building the fallout shelter?

Maybe we should just stop reading the news.  Either way, the only thing that matters is your personal experience and, in many cases, what your instincts tell you.  We all have to be cautions in uncertain times but must also recognize when to take risk and build our own foundation for recovery and growth.

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