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NFIB Looks At Business Owners' Response To Recession


Measured reactions so far

Not that we'd expect to hear otherwise, but new stats confirm small business owners haven't used the economy's slowdown as an opportunity to sharpen their thumb-twiddling skills.  Instead, the NFIB says a reasonable number of you are working harder and spending smarter.

Let's start with the smallest figure.  "Twenty percent of small employers have reduced, postponed or cancelled a planned investment or reinvestment in the last six months," according to an official release, and "the slowing economy is the primary reason in more than half of these cases."

Backing out of every commitment isn't necessarily the right approach to surviving the recession, of course, but these low-ish numbers seem to point to some picking and choosing taking place.

Next up, "Forty-four percent of small business owners are spending more time at their businesses today than six months ago."  So long as heart attacks and/or divorce rates don't go up, this is another good-looking statistic.

Finally, "Over the past six months, small business owners are highly likely to have become more attentive to their cash flow and inventory status."  And although the heart attack thing deserves to be repeated here, it seems that keeping a close eye on these matters is a sure way to find a few more pennies.

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News Tags: Management, NFIB, Recession
About the author:
Doug Caverly is a staff writer for SmallBusinessNewz.

Comments

RE:

I know that being a small business owner is not easy. But there are now websites and organizations out there that give help to small business owners. One organization, for example is America's Best Companies www.americasbestcompanies.com I am a member and I have gotten a lot of help from them. They even send out monthly magazines with articles that give great advice to not only small business owners but can relate to most people in today's economy.

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