Small Firms Worry About Financial Market Stability
Sep 22nd, 2008 | By Dawn R. Rivers | Category: Economy, ResearchJust in case anybody was thinking that last week’s Wall Street gyrations have nothing to do with privately held, unincorporated small businesses, the National Small Business Association’s Mid-Year Economic Report puts the kibosh on such comfortable ideas. Small business owners have a pretty dismal view of the economy, with 79% of them anticipating flat growth or a recession in the coming year.
More specifically, 67% of small business owners say the economy is worse off today than it was five years ago. Possibly more worrisome, while three of four business owners are confident about the survival of their own firms, almost as many (68%) have little confidence in federal depository insurance and most of them are or are considering taking action such as spreading business accounts among banks to minimize their risk. The full report, which was released today, is available for download from the NSBA web site at www.nsba.biz.
