Small Business and the Credit Crunch
A new poll from the National Federation of Independent Business Research Foundation takes a look at how small businesses are responding to the current credit crisis. Not surprisingly, surveyed business owners are glum, with thirty-four percent agreeing that their business has been “significantly” affected, and, within this group, twenty-six percent agreeing that the downturn threatens their business’ survival. Access to credit does not yet seem to be a pressing problem. Only 9 percent of respondent identified access to credit as the principal challenge facing small business. Instead, the largest group of owners (45%) cited lost sales as their primary concern, followed by uncertainty over overall business conditions, which was cited by 23 percent of respondents.
Access the December 2008, National Federation of Independent Business Research Foundation Small Business Poll report, "Access to Credit."