More than half of small-company owners believe rebound is soon to come.More than half of small-business owners surveyed by Administaff for its Business Confidence Survey expect an economic turnaround will take place by the end of 2010, according to the national professional employment organization.
Nearly 60 percent of small-business owners expect an economic turnaround in 2010, while 14 percent anticipate a rebound by the end of 2009, and 14 percent think the recovery will be in 2011 or later, according to the survey, released this week.
ÂThroughout AmericaÂs history, the entrepreneurial spirit has overcome obstacles and capitalized on opportunities, and our current economic setting is no exception,Â said Paul J. Sarvadi, Administaff chairman and chief executive officer. ÂSmall and medium-sized businesses are battling through the challenges of the recession, and appear to be preparing for a recovery in 2010.Â
The economy was listed by 83 percent of business owners as their biggest concern for 2009, followed by 53 percent citing government health care reform, 44 percent listing controlling operating costs and 33 percent specifying rising health care costs.
However, for 2010 and later, concern about the overall state of the economy fell to fourth place, at 36 percent, when the largest number of survey participants expressed a 55 percent tie vote for being Âvery concernedÂ about both potential tax increases and the effect of government expansion on business.
Staffing remains a challenge for small companies, the survey found, but fewer are planning job cuts. Sixty percent of respondents said they are maintaining current staffing levels, while 23 percent are adding new positions, up from the 18 percent in the survey conducted three months ago. Layoffs were named by 16 percent as a current management strategy, versus 19 percent in May.
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