BROTHER® SURVEY REVEALS SMALL BUSINESS OWNERS BELIEVE
STOCKPILING CASH NOW IS THE BEST STRATEGY FOR SURVIVAL
The survey also revealed the following key findings about small business owners’ reaction to the
current economic landscape:
• Small business owners would consider taking drastic and desperate measures to
keep hold of their company. In a striking example of the pressure still felt by many
small business owners, 15 percent say they would give up 10 percent of their company in
exchange for a guarantee that they’d be protected from negative economic effects in
• The economy has taken a toll on small business owners’ well-being. 51 percent of
small business owners find that their stress level is at the highest it’s ever been, or higher
than usual, as a result of the economic climate. Close to half (48 percent) of small
business owners think about their business while trying to fall asleep.
• Despite the hardships, most small business owners enjoy owning their own business.
In fact, 65 percent of small business owners believe they put in more hours than if they
worked for someone else. However, 50 percent of small business owners enjoy the
flexibility that comes with “being your own boss” and a third (35 percent) enjoy pursuing
This survey was conducted by Brother—a company that produces printers that you may own. The significant part of this survey is the highlighted part—51% of small business owners are stating that their stress level is at an all-time high. The Fremont Group also conducts their own survey and shows similar results. Stress is caused by uncertainty—we cannot have certainty in the economy but the stress can certainly be reduced by having more control of your operations and a trusted person to oversee your operations. Our TFG affiliates provide both. If you are a business owner experiencing this stress and who wants to change, we should talk.
The Fremont Group does an on-going survey of small business owners. During the first quarter of 2010 the results area as follows:
In the next six months do you believe that the economy will improve, stay the same, get worse?
89.8% of the responders said that that the economy would improve or stay the same. Where 20.2% felt that it would get worse, more than double that (41.1%) said that it would improve.
Almost half the responders (46.7%) said that they were more affected by the economy than most businesses.
In the next six months you will be adding employees, maintaining your number of employees, or expanding your number of employees.
82.4% of the responders said that they would be adding or maintaining their number of employees. 27.1% said that they would be adding employees versus the 17.6% of responders who said that they would be reducing their number of employees.
Even more telling was the response to this questions: In the next six months do you expect your revenues to increase, stay the same or decrease? 73.5% of the responders expect that their revenues will either increase or stay the same! Almost half of the responders (43.5%) expect their revenues to increase in the next six months and only 26.5% of the responders expect their revenues to decrease in the next six months.
What is most interesting is that while these results clearly show the optimistic outlook of small business owners and they do believe that the economy is improving, they certainly do not want to give Washington any credit for this improvement—62.4% of the responders stated that Washington was making the economy worse! Apparently we need to ask who they feel is responsible for the improvement that they see!
Thank you all for your responses. The second quarter will continue to track your opinions on these issues.
The 1st quarter survey posted here on the web site is ending–add your results and see where it stands. Analysis will start April 1st.