Thursday, April 1, 2010

Discover(R)-ing March Worse than February for Small Business Owners

On behalf of Discover(R), Rasmussen Reports finds that Economic Confidence Tumbles in March.

The Discover Small Business Watch plunged to 75.7, down a whopping 9.2 points from February.

Let's call it a spotty "recovery" at best. Here are some highlights (? lowlights):

The March results were marked by a surge in the number of small business owners who say economic conditions for their own businesses are deteriorating: 53 percent of them say the climate will get worse in the next six months, compared to only 37 percent who answered that way in February. Of the remaining respondents, 20 percent said things are getting better, 20 percent said things are the same, and 6 percent are unsure.

When asked about their intentions to invest in their businesses, 52 percent said they would decrease spending, up from 43 percent in February, while 27 percent said they would make no changes, and 18 percent said they plan to increase spending.

Little faith was expressed for the direction of the larger economy, as 58 percent said it is getting worse, up from 44 percent in February; while 22 percent think it is getting better, down from 31 percent the prior month; and 16 percent said it's staying the same, versus 24 percent last month.

This data comports with the information I receive from two non-blighted areas, one on the east coast and one on the west coast.

Life may be good for now for senior execs in dominant companies with very high gross margins and no need for financing, but it is not that way in the "real world".

Copyright (C) Long Lake LLC 2010

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