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Discover (R) Small Business Watch (SM): Small Business Economic Confidence Remains Steady
Small Business Owners Express Slight Dip in Confidence, Sharp Drop in April Halted
Tuesday, May 29, 2007
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Economic confidence among small business owners fell marginally in May, slowing a sharp decline from the previous month, according the Discover (R) Small Business Watch (SM). At 110.0, the Watch was down less than half of a percent from April's 110.3, which represented a seven-point drop from a month earlier. "Small business owners are heading into the summer season with some stability," said Sastry Rachakonda, director of Discover's small business credit card. "Cash flow issues and conditions for their own businesses have trended lower but the sharp drop from the previous month has largely halted." April Key Findings:
Poll: Small Business Owners Work More, Play Less than Most of Us Slightly more than one out of six small business owners work every day of the week compared to one out of every 16 people who work for someone else, this month's topic survey found. "Small business owners are the backbone of the American economy and among the hardest working people in America," Rachakonda said. "Theirs is not a 9-to-5 job. It is more like a 5-to-9 undertaking, meaning 5 in the morning to 9 at night," Rachakonda said. Long Hours and Busy Weeks:
Fewer Vacations, Greater Availability and Sympathetic Spouses
"Small business owners are really focused on serving their customers every day. Our survey found that 40 percent of them carry wireless devices to keep in touch with their customers and clients when off work," Rachakonda said. "Being a small business owner often means that you are always open for business." 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.discoverbiz.com/watch. For information on Discover Business Card, visit www.discoverbiz.com. Rasmussen Reports is an electronic publishing firm specializing in the collection, publication, and distribution of public opinion polling information. The Rasmussen Reports Election Edge™ Premium Service offers the most comprehensive public opinion coverage available anywhere. Scott Rasmussen, president of Rasmussen Reports, has been an independent pollster for more than a decade. TOP STORIES43% Favor Health Care Plan, 53% Oppose Just 13% Say It’s Illegal Not To Answer Census Questions Republicans Lead Democrats by 10 in Generic Ballot, Highest Lead Yet Negatives for Pelosi, Reid, Boehner Hit Record Highs Obama Evokes Fear, Calls for Courage By Debra J. Saunders 44% Less Likely To Buy A Toyota, But It’s Still More Popular Than Chrysler 47% Don’t Think Daylight Saving Time Worth the Hassle Three-Way Ballot: Democrats 34%, GOP 27%, Tea Party 21% Just 53% Say Capitalism Better Than Socialism Advertisement
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