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A Survey from Union Bank Finds that Entrepreneurs Are Optimistic about the Future of Their Companies, Yet Are Pessimistic about the Economy
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(82 seconds)
-- How Will You Use This Story? --
(OPEN):
RECENTLY, UNION BANK SURVEYED HUNDREDS OF SMALL
BUSINESSES, THROUGHOUT THE NATION, ABOUT THEIR VIEWS ON THE OVERALL
ECONOMY--AND ON THEIR OWN BUSINESS-SITUATION: 48-PERCENT OF THE
RESPONDENTS FEEL THAT THE CLIMATE FOR THEIR SMALL BUSINESS HAS WORSENED,
IN THE PAST TWO YEARS--WHILE AN EQUAL NUMBER ANTICIPATE AN IMPROVED
CLIMATE, IN THE NEXT TWO YEARS. UNION BANK EXECUTIVE
VICE-PRESIDENT, TODD HOLLANDER, HAS MORE FROM THE BANK'S
"NATIONAL SMALL BUSINESS ECONOMIC SURVEY"...
(HOLLANDER):
"AMONG THE INDUSTRIES THAT WE SURVEYED, 91-PERCENT IN THE
CONSTRUCTION- AND ENGINEERING-FIELDS BELIEVE THAT THE NATIONAL ECONOMY
IS HEADED IN THE WRONG DIRECTION. HOWEVER, THOSE IN THE
PERSONAL-SERVICES SECTOR WERE [THE] MOST-OPTIMISTIC ABOUT THE
FUTURE--WITH 55-PERCENT EXPECTING THE OVERALL CLIMATE FOR THEIR
BUSINESSES TO IMPROVE 'SOMEWHAT' OR 'GREATLY', IN THE NEXT TWO YEARS.
IN ADDITION, 84-PERCENT OF ALL RESPONDENTS PLAN TO MAINTAIN THE SAME
LEVEL OF STAFFING THIS YEAR--AND 57-PERCENT PLAN TO MAINTAIN THE SAME
AMOUNT OF CAPITAL-EXPENDITURES. THESE RESULTS DEMONSTRATE BOTH THE
STRENGTH AND [THE] RESOLVE OF THOSE AT THE HELM OF SMALL BUSINESSES,
ACROSS THE NATION--WHO, DESPITE A LACK OF CONFIDENCE IN THE DIRECTION OF
THE OVERALL ECONOMY, ARE CONFIDENT IN THEIR OWN ABILITY TO CHART A
POSITIVE-COURSE FOR THEIR BUSINESS. THESE ENTREPRENEURS HAVE
BECOME EXPERTS AT NAVIGATING THROUGH CHALLENGING ECONOMIC-TIMES--AND IT
MAKES SENSE THAT THEY'RE MOVING FORWARD WITH CAUTIOUS OPTIMISM."
(CLOSE):
FOR MORE ABOUT THE "NATIONAL SMALL BUSINESS ECONOMIC SURVEY", VISIT
"UNION-BANK"-DOT-COM.
