Respondents: 515 |
As the economic crisis facing our nation and the world continues to deepen,
the self-employed and micro-business owners will have to make tough decisions
regarding the operation of their business. Please take this short survey to tell
us how you are presently handling or plan to address the tough economic times
ahead. |
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1. How much of an impact is the slow economy having on your business at
the present time? 50% | Significant impact on my business | 21% | Moderate impact on my business | 19% | Slight impact on my business | 08% | No impact on my business | 02% | No Opinion | |
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2. In your current business, how does this economic downturn compare to
previous periods of a slowing economy? 43% | This economic downturn is the worst I have experienced. | 16% | This economic downturn is similar to hard economic times I have experienced
previously. | 06% | This economic downturn is not as bad as hard times I have experienced in the
past. | 26% | This economic downturn is the first I have experienced with my current
business. | 08% | No opinion | |
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3. What actions in your business are you considering to address the
difficult economic climate? (Choose ALL that apply.) 10% | Lower prices of products and/or services | 17% | Scale back the purchase of inventory or equipment | 11% | Downsize staff (i.e. let go some employees) or refrain from hiring new
staff | 09% | Cut benefits for myself and/or my employees (i.e. health care; 401K
contributions) | 09% | Institute temporary pay cuts for myself and/or my employees | 06% | Attempt to obtain loans to shore up my business | 14% | Use my personal savings to shore up my business | 09% | Increase use of credit cards to assist with cash flow difficulties
| 04% | Close the doors of my business | 11% | No change in the way I am conducting business | 02% | No opinion | |
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4. Which has experienced the larger negative impact from this economic
crisis? 32% | My business | 54% | My family’s personal finances | 14% | No opinion | |
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5. What are your expectations for your 2008 year end gross revenue? 24% | Higher than 2007 | 18% | Stay the same | 51% | Lower than 2007 | 07% | No Opinion | |