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Manta: SMBs feeling more stress
Congress may have passed a measure to temporarily roll back the so-called Fiscal Cliff, but that measure isn't easing small business owners' minds. Instead, SMBs are very tentative about the future, finds new data out today from Manta.
If you asked small business owners about the future of their business in Q4 2012, most would have been bullish on the future; not so now, barely three weeks into Q1 of 2013 SMBs are a bit more cautious. According to new information out from Manta most SMBs still believe their business will survive but most (82%) have put hiring on hold and 40% say it's because of the Fiscal Cliff/debt ceiling.
"The New Year has a new level of uncertainty for all businesses, but I'm not surprised that despite these concerns, small business owners, in particular, still have an optimistic view for what's ahead in 2013," said Pamela Springer, CEO, Manta. "It is inherent for small business owners to have a can-do attitude, even in the toughest of times."
Other interesting findings from the report include:
• 76% of SMBs 'disapprove' of how Congress and the President are handing budget issures
• 14% of SMBs say they won't increase salaries or offer bonuses in 2013
• 13% are 'eliminating discretionary spending'
The stress is manifesting outside their business lives, too. The survey found only 29% of SMB owners ate healthier or worked out more in 2012, a decrease of more than 20% from 2011. Meanwhile about half are working about 50 hours/week, a 20% increase from 2011. About 40% say they average 6 hours or less of sleep each night.
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