Small Business Owners Ready for Another Recession
If you are worried about a double dip recession you are far from alone. The most recent Citibank survey found that an astounding 90% small business owners fear the economy will fall back into a recession. Responses to the survey were not completely negative however.
“We have some uncertain economic conditions, and in that context, what is very encouraging is business owners are very prepared,” said Raj Seshadri, head of small-business banking at Citibank,
The 79% of small business owners who are confident they are prepared for a double dip recession prove that Americans are better equipped to cope with a recession than they were in 2009. Employees will be reassured to hear that 78% of respondents said they intend to maintain the same number of employees, while 17% want to increase hiring.
Citibank’s survey found small business owners have mixed emotions about the economy. While the vast majority is nervous about a double dip recession, the majority of small business owners also feel they are ready to face another recession.