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.