Small Business is our Business

Key findings from Citibank’s latest Small Business Survey reveals

Economic findings—

*90%  are concerned about the possibility of a double-dip recession

*79% are prepared if the economy were to experience another downturn

*78%  plan to keep the same number of employees, while 17% plan to increase in the next year, and 5% may need to reduce

*30%  plan to hire temporary or part-time workers instead  of full-time employees

Biggest challenges of owning a business at the moment—-

*Taxes, insurance, and/or benefit costs (65%)

*Declines in sales (61%)

In an effort to grow their business in 2012 many plan to——–

*Increase their marketing efforts  (61%)

*Get better pricing from suppliers and vendors  (58%)

*Introduce new products/services  (56%)

*Work longer hours  (45%)

This Citibank Small Business survey was conducted in August 2011 of 1,000 small business owners in the United States.


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