Small business owners split on state of economy

April 22, 2013 

For all the chatter about how the economy has turned a corner, small businesses owners are still split on whether or not the country remains in recession.

A survey of 3,210 small businesses found that 45 percent of respondents believe the economy is in a state of recovery, while 42 percent believe the national economy remains in recession.

The survey was conducted by U.S. Bank and released Monday.

1 percent of respondents believed the economy is experiencing expansion, and 10 percent were unsure about the state of the economy.

The survey also found that:

67 percent said their business was in “good, very good or excellent health,” down from 69 percent in 2012.

29 percent said revenue was higher than at this time a year ago. 43 percent said revenue was about the same, and 29 said revenue was lower.

41 percent said they expect revenues to increase next year. 47 percent expected revenues to be about the same, and 12 percent expected revenues to decrease.

16 percent said they expected to increase their workforce in the coming year. 79 percent anticipating their workforce would remain the same, while 5 percent expect a decrease.

60 percent said they were unlikely to make a capital expenditure to expand their business in the coming year. 28 percent said such expenditure was likely, and 5 percent were unsure.

Idaho Statesman is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service