Discover(R) Small Business Watch(SM): Small Business Owners Still Cautious on Economic Outlook
02 Gennaio 2008 - 1:07PM
Business Wire
Economic confidence among small business owners is off slightly for
December, down a half-point from the previous month, as small
business owners expressed less confidence that economic conditions
are getting better, either in the general economy or with their own
businesses. At 92.7, the Discover Small Business Watch is down from
93.2 in November, a full 17 points lower than at the same time a
year ago. �The Index hasn't moved enough this month to be of too
much concern,� said Sastry Rachakonda, director of Discover's
business credit card. "The mood remains cautious as fewer small
business owners feel like economic conditions for their businesses
are getting better. The mood could change either way depending on
holiday receipts." December Key Findings: 28 percent of small
business owners feel that economic conditions for their own
business are getting better. The percentage has been steadily
decreasing since September, when 40 percent of owners felt
conditions were improving. 65 percent of small business owners feel
that economic conditions in the U.S. are getting worse, slightly
fewer than the 68 percent who felt that way in November. The number
who believe it is getting better remained the same. 42 percent said
they have experienced cash flow issues over the last 90 days, an
increase from 38 percent in November but even with 42 percent from
December 2006. Plans for spending on business development increased
this month, with 32 percent of owners planning to increase spending
on activities such as advertising and inventory, compared with 29
percent in November, but lower than 37 percent in December 2006.
Poll: Men Want To Be Their Own Bosses, Women Seek Flexibility In a
poll of 1,000 small business owners who were asked to name their
single biggest reason for becoming entrepreneurs, the majority
cited being their own boss and having more flexibility as their top
two motivations. Looking closer, among business women, more favor
flexibility, 32 percent, to being independent, 17 percent; while
men choose being their own boss, 27 percent, ahead of flexibility,
24 percent. Differences also appear in decision-making: 77 percent
of men said that they make most business decisions on their own,
compared to 72 percent of women who said the same. Similarly, more
women than men, 28 percent to 23 percent, allow employees and
associates to participate in business decisions. �Small business
owners want to control their destiny,� Rachakonda said, �However,
men and women do this in different ways. For men, it is about being
in control and being their own bosses, while for women, it is about
having more flexibility with their time.� In the key areas of
launching a business, networking and attracting new clients, both
sexes think the other has the upper hand: 39 percent of male
business owners think it is easier for women to start businesses,
while 34 percent think it is easier for men. Conversely, 20 percent
of female small business owners think it is easier of men to start
businesses, compared to 15 percent who think women have it easier.
30 percent of men think it is easier for women to attract new
business and only 16 percent think it is easier for men. Among
women, 39 percent think it is easier for men to attract new clients
while only 19 percent think women have the edge. 24 percent of men
believe it is easier for women to network, while 15 percent of men
think they have it easier. On the female side, 12 percent of women
say men have it easier, while only 8 percent think women have it
easier. Overall, two-thirds of all respondents think both sides are
about the same when it comes to networking. �It is interesting to
see that the grass seems greener on the other side with both
genders,� Rachakonda said. �However, the fact is that the majority
of both genders feel that it does not make a difference.� Daughters
may have a harder time inheriting a business than sons. Among
business owners who have children of both sexes and plan to have a
child take over, 43 percent say they wouldn�t pass it on to a
daughter, compared to 32 percent who said they would, while 25
percent weren�t sure. In the gender breakdown, women were more
likely to pass their businesses to daughters, 39 percent, compared
to 29 percent of men. The poll also found similarities between the
sexes. In handling home life versus work life, 81 percent of both
sexes equally feel like they are balancing the two either �pretty
well� or �very well.� Only 15 percent of owners said they were
balancing �not so well,� followed by 3 percent who said they were
balancing �badly.� �The results seem to indicate that the vast
majority of small business owners, led by their independence and
flexibility, are finding the kind of time they need to spend with
their families or with interests outside of work,� Rachakonda said.
The views and opinions expressed by small business owners and
consumers who participate in the Small Business Watch survey are
their own and do not necessarily reflect those of Discover
Financial Services or its affiliates. About the Small Business
Watch The Discover Small Business Watch is a monthly index
measuring the relative economic confidence of U.S. small business
owners who employ less than five employees, a segment that consists
of 22 million businesses producing more than a trillion dollars in
annual receipts. The Watch is based on a national random survey of
1,000 small business owners. It is commissioned by the Discover
Business Card, which strives to offer the best business credit card
for American small businesses, and is conducted by Rasmussen
Reports, LLC (www.rasmussenreports.com), an independent survey
research firm. The numeric index is calculated by assigning values
to responses to a set of six consistent questions. The base value
of the Watch was established at 100.0 based on surveys conducted in
August of 2006. In addition to generating the index, the Small
Business Watch surveys small business viewpoints on key business
drivers, and also surveys 4,000 consumers to gauge purchasing
behavior and attitudes towards small businesses. For past results
and small business survey data, visit
www.discovercard.com/business/watch. For information on Discover
Business Card, visit www.discovercard.com/business. About Discover
Financial Services Discover Financial Services (NYSE: DFS) is a
leading credit card issuer and electronic payment services company
with one of the most recognized brands in U.S. financial services.
The company operates the Discover Card, America's cash rewards
pioneer. Since its inception in 1986, the company has become one of
the largest card issuers in the United States. Its payments
businesses consist of the Discover Network, with millions of
merchant and cash access locations, and PULSE, one of the nation's
leading ATM/debit networks. Discover also operates the Goldfish
credit card business in the United Kingdom. For more information,
visit www.discoverfinancial.com.
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