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New Report Paints 2008 As Profitable Year


Almost 70 percent of small business owners did okay, according to survey

It turns out that the sky didn't fall in 2008.  A measurement tool put together by Network Solutions and the University of Maryland's Robert H. Smith School of Business indicates most small businesses actually managed to make money during the year.

The newly introduced Small Business Success Index has been defined as "an ongoing measurement of the overall health of U.S. small businesses based on a telephone survey of 1,000 small business owners."  This is its first outing, and it found that 69 percent of small businesses remained profitable in 2008.

Moreover, as stated in a press release, "The majority (69%) of those who showed a profit in 2008 indicated it was equal to or better than 2007," and "70% of small businesses expect their firms to still be operating in 5 years as opposed to being closed, sold or transferred, and of these, 66% expect to be bigger in size."

That sounds quite encouraging, all in all.  Granted, some unpleasant stuff happened in the first couple months of 2009, but those problems (the Dow's drop in particular) already appear to be in the process of getting erased.

Additional info relating to the Small Business Success Index is available here if you're interested in learning more about the new survey.

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About the author:
Doug Caverly is a staff writer for SmallBusinessNewz.

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