Small Business Owners Still Waiting for Recovery

According to Discover’s Financial’s (DFA) Business Watch, some small business owners have yet to see the recovery that some experts claim will occur this year. In fact, some entrepreneurs view the economy as worsening, and the climate for their companies has declined over the past two months. As an aside, Discover Business Watch measures the relative economic confidence of U.S. small-business owners with fewer than five employees.

Here are some more interesting pieces of information taken from the most recent survey:

  1. More than half of the survey’s respondents rated the economy as still in “poor” condition for the 19th consecutive month.
  2. Nearly 1/3 of small business owners told DFS that they have contemplated going out of business sometime during the last two months.
  3. More than 3/4 of the respondents said that rising fuel prices have affected profitability.
  4. Ironically, 52% of business owners reported no temporary cash flow issues affecting their ability to pay their bills on time, which is up from 46% last month.
  5. And 29% of entrepreneurs intend to increase spending on business development within the next six months.

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