In the Small Business Opinion Poll from EMPLOYERS, small business decision-makers indicate that it will require over 12 months for their businesses to return to pre-recession levels, in terms of annual sales. In addition, 41% say it will be more than 10 months before they start hiring.
“Even as key economic indicators such as consumer spending and new home sales are beginning to show signs of recovery, EMPLOYERS’ latest Small Business Opinion Poll reveals small business decision-makers are still apprehensive about 2010,” the firm says. “And as credit markets remain tight, 40 percent of small business decision-makers reported the recession negatively impacted their access to credit.”
“While there appear to be some signs of economic recovery heading into the new year, the latest findings from the Small Business Opinion Poll indicate small business decision-makers will remain cautious as they try to find ways to grow this year,” the firm adds. “America’s small businesses are the innovators who will drive growth and job creation in the next economic cycle, and measures should be taken to help facilitate their growth.”
Some highlights from the poll include:
– 41 percent say it will be more than 10 months before they start hiring again;
– 55 percent are very confident their business will survive through the end of the recession;
– 40 percent say the recession has negatively impacted their business’ access to credit;
The poll was conducted among 500 small business decision markers across the United States. Are you back to hiring? How long do you think you will have to wait before you begin the hiring process?