Survey Shows Small Businesses Still Struggling
A new survey conducted by Office Depot exhibits the hurdles small businesses are facing in today’s rocky economy. The survey reveals that small businesses are struggling and small business owners are feeling pessimistic.
A majority, 66%, of the 1,000 small businesses surveyed in July reported that the tough economy has affected their business. An additional 44% said that profits have dropped in the past year.
Many of the survey participants were not optimistic about the near future either. A mere 42% said they predict the economy will get better in the next 6 months. No wonder a whopping 79% of small business owners surveyed say they do not expect to hire new employees the rest of 2011.
Office Depot’s survey of small businesses illustrates the challenges of the current economy and the toll the economy has taken on business owners’ mindset. Hopefully the 58% of respondents that expect to see a better economy in the next 6 months are right.