Small Business Owners and Attitudes Towards the Economy

This survey reveals that small businesses see the economy as improving and are relatively optimistic about the future.

Silver Spring, MD December 01, 2011

Webs, the world’s most popular do-it-yourself solution for website creation, recently conducted a survey of its small business customer base on their attitudes towards the economy. The startling results indicate that the more than 1,700 small business owners surveyed are optimistic about the future and relatively confident about the prospects of their own businesses despite current economic conditions. Forty seven percent of small business owners believe the economy will bounce back in the next few quarters, and 67 percent of those surveyed believed that their business would generate more revenue in 2012 than in 2011.

“This survey reveals that small businesses see the economy as improving and are relatively optimistic about the future,” said Haroon Mokhtarzada, CEO of Webs. “Small businesses remain an important indicator of economic trends, particularly in periods of long term economic instability and low consumer confidence. When the economy is bad and jobs are scarce, people start their own businesses to make up for the shortfall. The easiest way to start your own business is to build a website that markets what you do or sell.”

The survey showed that many small business owners were not willing business owners: 38 percent of those surveyed started their business because they were laid off or could not find full time employment. For many in today’s fractured economy a small business represents the only reasonable choice to generate an income. And because so many people who start small businesses have very little startup capital, a website remains the ideal method for marketing a business. Seventy-six percent of those surveyed felt that a website remains the most cost effective marketing technique available.

The survey revealed several other significant facts about small business owner attitudes and expectations:

• 37 percent of small business owners surveyed were most concerned with generating new leads and acquiring new customers
• 45 percent of small business owners were delaying hiring someone new because of the economy
• Only 13 percent of small business owners were increasing investment in their business, 39 percent were delaying investment

“One of the most important elements we can take away from this survey is that small businesses and their online presences will play an enormous role in the recovery of the economy going forward,” said Haroon. “People have been forced into small businesses because of high unemployment. Small businesses have become ways for people to have more control over their own economic fortunes and destinies. We live in a time where people can build a small business quickly and easily from the convenience of their own home computer. Our company is fortunate to be able to participate with and help this newest wave of small business owners. ”

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