SANTA ANA CALIFORNIA, JAN 6th, 2012 – Fordham & Associates reveals that more than one in four (27%) of California small-business owners describe their firms as "a sinking ship," according to a new survey from American Express OPEN Small Business Monitor.
However, 55% of California owners plan to expand their businesses this year, the survey found.
This wide disparity of answers illustrates how different the slow economic recovery is affecting small businesses. Some results are significantly more negative than six months ago, the monitor notes.
For example, the 55% planning to expand is down from 85% six months ago. Also, 72% of California respondents see "the glass as half full," down from 85% last spring. Nationwide, 77% see the glass as half full.
Other California responses:
• 51% are having cash flow issues, a sign of a business in trouble, down from 72% in the spring
• 48% will make capital investments in their businesses within six months
• 38% offer healthcare benefits to employees, down from 46% a year ago
• 28% pay themselves an annual salary, compared to 44% nationwide
• 56% say the economy is still in recession, compared to 38% nationwide while 68% see the risk of a double-dip recession
While 22% of California small businesses plan to hire in the next six months, 32% said they can grow without hiring. The biggest barrier to adding jobs, they said, is the lack of customer demand.
The anonymous telephone survey of 814 small business owners and managers was done from Aug. 12 to Sept. 8. The margin of error is 3.4%.
About Fordham & Associates, Inc. http://marctowlaw.wordpress.com/2012/03/31/top-ten-considerations-of-goi...
Fordham & Associates is a business advisory and consulting firm that helps companies, entrepreneurs and investors. Companies monopolize their market, execute what’s next, raise capital, go public, and execute turnaround. Fordham has provided solutions to 1200 companies in the United States. Fordham provides you with an assessment, free of charge. For more information, you can reach them at 949-200-7648 or e-mail at Fordhamassociates@yahoo.com
Contact: Marc Tow, 949-200-7648Fordhamassociates@yahoo.comhttp://towlaw.typepad.com/blog/2012/03/top-ten-considerations-of-going-public-or-completing-a-reverse-merger.html
While 22% of California small businesses plan to hire in the next six months, 32% said they can grow without hiring. The biggest barrier to adding jobs, they said, is the lack of customer demand.http://marctowlaw.xanga.com/weblog/