News

1) Has your BUSINESS experienced any of the following due to the sluggish economy? (Select all that apply.)

Answer Options

Response Percent

I have experienced a significant decrease in sales and/or revenue

61.9%

I've had to let go of employees

23.2%

I've had to scale back or drop benefits (i.e. health coverage, 401K, etc.)

20.6%

I've had to refrain from making improvements or growing my business

58.2%

I've been unable to access credit or loans

27.8%

I've had to utilize my personal savings or retirement savings (i.e. 401K or other retirement savings vehicles) to address cash flow issues

49.0%

I've been forced to close my business

2.1%

I have experienced no affects

10.8%

Other

14.4%

2) Has your FAMILY experienced any of the following due to the sluggish economy? (Select all that apply.)

Answer Options

Response Percent

My credit card debt has increased

43.4%

I've had to utilize my personal savings or retirement savings (i.e. 401K or other retirement savings vehicles)

52.4%

I have been unable to access personal credit or loans

22.8%

I am having difficulty affording my basic needs (housing, utilities, food, etc.)

37.0%

Family income has decreased due to job loss

33.3%

I have experienced no affects

15.3%

Other

13.2%

3) Are you planning to hire workers this year regardless of type (i.e. full-time, part-time, temporary)?

Answer Options

Response Percent

Yes

23.4%

No

76.6%

4) If yes, what type of employees are you planning on hiring? (Select all that apply.)

Answer Options

Response Percent

Part-time

44.4%

Full-time

31.1%

Temporary

37.8%

Do Not Know

11.1%

5) If no, please indicate why you will not be hiring additional workers this year. (Select all that apply.)

Answer Options

Response Percent

I am not interested in expanding my business.

30.3%

I am unable to pay the salary of an additional worker.

65.5%

I am unable to offer or afford benefits for an additional worker.

49.7%

6) How likely would you be to hire new workers this year if the following proposals below were implemented?

Answer Options

Very likely

Somewhat likely

Unsure

Not at all likely

A $3,000 tax credit for businesses who create jobs.

15.4%

19.5%

16.8%

48.3%

A one-year payroll tax holiday on the first $40,000 of income for the self-employed and small businesses with 25 or fewer employees.

26.1%

24.8%

22.9%

26.1%

Permanent expensing up to $250,000 of qualified business investments and equipment under Section 179.

14.8%

18.1%

30.3%

36.8%

Elimination of fees and an increase in guarantees for loans through the Small Business Administration.

12.7%

21.3%

25.3%

40.7%

An increase of credit and loans available from financial institutions (i.e. banks, credit unions, etc.)

11.5%

22.3%

24.8%

41.4%

Health reform proposals in Congress became law.

5.7%

7.6%

17.1%

69.6%

Making permanent the tax cuts and individual income tax rates passed in 2001 & 2003

18.1%

24.4%

26.3%

31.3%

7) Which statement best describes your business?

Answer Options

Response Percent

A career that presently supplies the main source of income in my household

76.4%

A part-time business to supplement another income in my household

6.9%

A start-up business with the potential to become a permanent, main source of income

8.6%

Other (please specify)

8.0%

8) Please indicate your business structure:

Answer Options

Response Percent

Sole-proprietor

50.0%

LLC

18.4%

LLP

2.9%

S Corporation

22.4%

C Corporation

4.6%

Other

1.7%