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Thursday, January 08, 2009

45% of Small Businesses Expect Obama to Improve Economy

Not that we needed more bad news about the economy, but more than half of Americans are doubting if President-Elect Barack Obama can make a positive impact on the economy.
The results are from a survey  conducted by Vertical Response, which hosts online surveys and provides email campaigns with tracking and analytics.

(Special Thanks to Dana M. Ticker of Atomic PR for providing the data)

The survey was conducted from Dec.3-15 and polled 302 random business clients.Democrats represented the majority of respondents, (53%), followed by Republicans (32%), Independents (4.3%) and Green Party (1.7%). 8.2% were listed as "Other".

Despite the Democrat majority in the survey, only 45.1% of its respondents believe Obama's administration will have a positive impact on small business.
Other interesting stats derived from the survey include:

  • 83% of the respondents surveyed make less than $250,000.
  • 80% of respondents see economy as primary concern.
  • 72.5% have not had to lay off workers.
  • 66% have already felt the negative impact of recession.
  • 55.3% are sole proprietorship LLCs.
  • 31.6% are corporations.
  • 14.4% are still hiring.
  • 6% are non-profits.
  • Remainder are described as"other."
  • 42.7% lived in urban  areas.
  • 41.3% lived in suburban areas.
  • 15.9% were located in rural America.
  • Respondants were split nearly evenly throughout the regions of the country.

Judging from the results, I think it's safe to say that average Americans view this recession as a crisis that's too large for any single man or administration to handle, because it has spread to every segment of society.

William Dunkelberg, the chief economist for the National Federation of Independent Business (NFIB), told Reuters:

Everybody is trying to hang on now.More and more of these firms are in survival mode. They kept thinking consumers will make it, but then December rolls around and sales are still not going anywhere -- in fact they're going down -- and finally (small businesses) run out of money.


By Matt O'Hern at 08:46 AM | Comments (0)

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