Survey Says Small Businesses Resilient Despite Economy
About 52 percent of small business owners describe their businesses' economic situation as worse now compared to a year ago, according to a survey released by Pitney Bowes.
However, despite financial struggles, about 73 percent are optimistic about the future of their businesses.
The survey, commissioned by Pitney Bowes, was conducted by International Communications Research, which polled 504 small businesses across the U.S. about the financial state of their business and an outlook for this year.
In spite of financial pressures, many small business owners still feel they have levers to pull before they would be forced to close.
If their financial situation does not improve, 34 percent would resort to either layoffs or changing their mix of products or services, according to the survey. About a third would barter with customers, suppliers and employees to minimize the use of cash, while 31 percent would reduce operating hours. Twenty-nine percent would purchase a technology to increase the efficiency of their business.
"The Pitney Bowes survey revealed the agility of small businesses to adapt in today's economy to stay in business for the long haul," said Christine Martin, senior director, customer marketing & strategy, Pitney Bowes. "Small businesses are a cornerstone of this nation's economy, which makes their success of the utmost importance for the economic recovery of America."
For more information visit www.pb.com.