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Small Businesses Remain Optimistic Despite Bleak Economic Conditions, Opinion Research Corporation Study Finds
PRINCETON, N.J. --(Business Wire)-- America's small business community remains positive in the face of its toughest challenge in decades, according to a new study from Opinion Research Corporation, an infoUSA company (NASDAQ:IUSA). While more than two-thirds of small business owners and managers claim the economy is in poor shape, America's entrepreneurial spirit is alive and well with nearly 9 in 10 optimistic about the future prospects of their business.
Almost 6 in 10 small businesses say that the current conditions have had a negative impact on their business. "Small businesses are vital to America's workforce and are the lifeblood of this economy," said Wayne Russum, Senior Vice President at Opinion Research Corporation US. "The current economic crisis is not just hitting big business - it is having a strong negative impact on the entrepreneurs whose unique contributions have a significant impact on our overall economic success."
Even though nearly two-thirds of small businesspeople say that America is now in a recession, only a small minority (14%) believe that it is a serious recession. A significant percentage of those who think America is in a recession (53%) expect it to last longer than one year. The small business community remains more positive than the general public, however, with only 23% suggesting that the economy is very poor, compared with 40% of the general public.
Small businesses with less than five employees have been hardest hit, with 30% of respondents calling the economic situation very poor. Specific sectors of the small business community are also feeling the pinch, particularly in manufacturing, construction, transportation and communication. Surprisingly, however, retailers and wholesalers have the most positive outlook, with 45% of respondents indicating that the economy is in good shape.
"The findings emphasize that the current economic weakness has clearly moved beyond Wall Street and is hitting Main Street - taking a toll on small businesses in the hard-hit manufacturing and construction sectors", Russum commented. "However, smaller retailers- gas stations, grocery stores and the like --- appear to remain a bright spot."
The survey of 250 small businesses was conducted by Opinion Research Corporation's recently launched Small Business CARAVAN(R), among companies with 99 or fewer employees. For further information about the Small Business CARAVAN(R),please contact: CARAVANinfo@opinionresearch.com
About Opinion Research
Opinion Research, an infoUSA company, has offered innovative solutions to the toughest market research challenges of clients worldwide since 1938. Since the 1960s, ORC has conducted CARAVAN, the USA's longest continuously running consumer omnibus, which is the model for the Small Business CARAVAN. In addition, the firm has been conducting national, speech reaction, state and flash/overnight polls for CNN since April 2006. To learn more, visit www.opinionresearch.com.
About infoUSA
infoUSA (www.infoUSA.com), founded in 1972, is the leading provider of business and consumer databases for sales leads & mailing lists, database marketing services, data processing services and sales and marketing solutions. Content is the essential ingredient in every marketing program, and infoUSA has the most comprehensive data in the industry, and is the only company to own 12 proprietary databases under one roof. The infoUSA database powers the directory services of the top Internet traffic-generating sites. Nearly 4 million customers use infoUSA's products and services to find new customers, grow their sales, and for other direct marketing, telemarketing, customer analysis and credit reference purposes. infoUSA headquarters are located at 5711 S. 86th Circle, Omaha, NE 68127 and can be contacted at (402) 593-4500. To know more about Sales Leads, click www.infousa.com. To get a 72-hour free trial and 100 free sales leads, click www.salesgenie.com.
Statements in this announcement other than historical data and information constitute forward looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, but are not limited to, recent changes in senior management, the successful integration of recent and future acquisitions, fluctuations in operating results, failure to successfully carry out our Internet strategy or to grow our Internet revenue, effects of leverage, changes in technology and increased competition. More information about potential factors that could affect the company's business and financial results is included in the company's filings with the Securities and Exchange Commission.
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