Friday, July 20, 2012

Good News and Bad News

Small Business Owners: The Good News and the Bad News

By: Brent Barnhart
The small business community has seen its share of ups and downs, and by the looks of it, the negative has far outweighed the positive in recent months. While Europe's financial crisis and the Presidential race are dominating most mainstream media outlets, there are a number of small business headlines you may have missed out on. Are you in the loop?

The Bad News

Small Business Owners Going Without

Recent reports show that more than half of small business owners in recent months have been going without a paycheck in order to keep their businesses running, with nearly a quarter of such business owners doing so for over a year. Based on a recent Citibank survey, small business owners are paying a huge personal price when it comes to keeping their business alive and in-tact, even if they're just barely breathing. Nearly 80% of surveyed business owners stated they have taken in less profits, while 70% have been forced to work more hours and slash vacation-time. Are you feeling the same crunch?