Economy keeping small business leaders up at night

Nearly two–thirds (65%) of small business decision makers say that worries about their companies are keeping them awake at night, according to the Small Business Opinion Poll conducted by Opinion Research Corp. and commissioned by EMPLOYERS, a small business insurance specialist and provider based in Reno, Nev.

The 500 owners and managers polled said they worry most about the economy, growing and maintaining their business, meeting their operating expenses and their business closing.

Other results:

  • Small business decision makers are evenly split on whether the Obama administration will be a stronger advocate for small businesses than the Bush administration (47% vs. 47%, with 6% undecided)
  • 72% expect their revenue to stagnate or decline in 2009
  • 81% expect to cut costs in some way this year
  • 42% expect to eliminate or cut back expenses in 2009
  • 21% expect to lay off workers this year

The survey is based on telephone interviews with 500 owners or managers of businesses with between one and 99 employees. It includes companies across several economic sectors: manufacturing/construction, transportation/communication, wholesale/retail, financial services and personal/professional services. It was conducted in mid–December and late February.