New Survey Shows Conditions Improving Slightly for Small Business, But Hiring Still Lags
Released
on: March 03, 2010, 3:53 am
Author:
Angrisani Turnarounds
Industry: Small Business
NEW YORK CITY, New York – March 3, 2010 This month's Small
Business Sentiment Survey (SBSS), conducted by Angrisani Turnarounds,
LLC, with data provided by Toluna, Inc., demonstrated a small—but
fragile—improvement in small business owners' attitude toward the
economy.
Fifty-nine percent of small business owners surveyed said they had no plans to open
their wallets anytime soon for capital expenditures, while last month 62.7 percent
said they were holding off on capital purchases. Additionally, 70 percent of those
surveyed said they were not planning to hire full-time employees in the foreseeable
future, as compared to 80.1 percent last month. Despite slight improvement over last
month, the survey's newest figures still compare poorly with the baseline from the
October 2009 survey, when 52 percent of SBSS respondents said they were disinclined
to hire new full-time employees.
Has the deficit replaced health care as the new threat to Small Business?
According to Al Angrisani, founder and CEO of Angrisani Turnarounds and former
U.S. Assistant Secretary of Labor under President Reagan, one new issue could be
adding to the risk aversion business owners have expressed in recent SBSS surveys. A
full 72 percent of small business owners surveyed said they were very concerned or
extremely concerned about the massive federal budget deficit—which is forecasted to
be $1.6 trillion for the current year, and had reached $430.69 billion through
January—and the high taxes certain to follow in its wake.
“Small business owners are starting to look down the road at the huge deficit and
heavy tax load sure to land on their shoulders,” he says. “So, while business owners
have begun to feel slightly more positive about the economy and their businesses,
deficit and new tax worries may be making them reluctant to hire full-time
employees.”
Angrisani goes on to say that the deficit and accompanying taxes seem to have bumped
health care reform from the top of the list of concerns for Small Business. “When we
asked business owners to choose the biggest threat to their business, the highest
percentage—23.5 percent—chose rising taxes, edging out health insurance costs by two
percent. It's clear this is becoming the big issue of the day.”
About the Small Business Sentiment Survey
Angrisani Turnarounds, LLC, commissioned Toluna, Inc., to conduct an online survey
of small business owners. The survey, which used a representative sample of 200
owners of businesses with less than 100 employees from various industries and
regions, was designed to assess the mood of small business owners. It also asked
them to rate those issues presenting the greatest risk to their businesses and their
general feeling about the health of their businesses.
About Angrisani Turnarounds
Building on his decades of experience in the turnaround industry, Al Angrisani has
established Angrisani Turnarounds, LLC, as a vehicle for helping troubled companies
overcome the challenges that have weighed them down and diminished shareholder
value.
With the proven Angrisani Hierarchy of Value Creation Model (AHVCM) at its heart,
the company’s mission is to work closely with Boards of Directors to transform
troubled and under-performing companies (TUCs) into high-performing, innovative
businesses that create new wealth for shareholders.
Please contact al@alangrisani.com for more information.
About Toluna
Toluna, Inc., is the world's largest online research panel and survey technology
provider. It provides sample and custom panel building expertise to over 1,500 of
the world’s leading market research agencies from offices across Europe, North
America and Asia Pacific.
Toluna has built and manages a panel community of over 4.3 million active members
across 33 countries. This has been extensively profiled into 16 specialist panels,
reaching niche segments to provide premium quality survey research data.
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Contact Details: Erin Jones
E.S. Jones Public Relations
(704) 664-2170
ejones@esjonespr.com
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