Every month, Discover Financial Services publishes a Small Business Watch report on its Web site. Here is a list of some of their Small Business Key Findings for the month of November:
- 44% of small business owners have experienced cash flow issues over the last 90 days, up sharply from 38% in October. This is the category’s highest rating since April 2008, when the same number of business owners reported cash flow issues.
- 33% of owners who sell business-to-business said they had cash flow issues in the last 90 days that caused them to hold off paying some bills
- 51% plan to decrease spending on business development over the next six months, up significantly from 42% in October and a record high in this category
- 65% of business owners view the economy as poor
- 54% of business owners believe economic conditions for their business are worsening, and only 15% feel conditions for their business are improving
- With the results from an election poll, business owners want President-Elect Barack Obama and Congress to make taxes a top priority, even though 64% said they are not confident that the federal government and Congress can address the needs of America’s small businesses
Q: Do you feel the results of this poll are in line with your own business?