EMPLOYERS® Small Business Poll Finds Business Worries Keep 58 Percent of Decision-makers Awake at Night
Though worries remain, small businesses are more optimistic on economy and their own businesses; more than one-third of small businesses plan to hire within six months, nearly half expect to grow revenue
RENO, Nev.--(BUSINESS WIRE)-- Small business decision-makers from across the country reported an unchanged opinion about the U.S. economy, but reported a slight increase in optimism about their own prospects for revenue growth in 2012 compared to the prior year, according to a recent Small Business Opinion Poll conducted by ORC International, commissioned by EMPLOYERS®. The poll revealed that 44 percent of small businesses believe the U.S. economy will improve in 2012. While in 2011, 46 percent believed the economy would be better. Small businesses are bullish about their own business revenue projections with 45 percent expecting revenue growth versus 17 percent expecting revenue declines.
Though 58 percent of small business decision-makers report business-related worries keep them up at night, the EMPLOYERS Small Business Opinion Poll found the 2012 figure to be significantly improved compared to results one year ago. This year, 40 percent responded they dont worry about their businesses versus 30 percent who didnt have sleep-depriving worries in 2011. The latest poll also reveals that todays small business worries are more focused on issues related to growing their businesses (20 percent) rather than variables that are more out of their control like the economy.
EMPLOYERS Small Business Opinion Poll Snapshot:
- 44 percent feel the U.S. economy will be better in 2012 than in 2011
- 45 percent expect sales growth this year versus 41 percent in 2011
- 23 percent are currently at pre-recession revenue levels
- 21 percent are currently hiring versus just 15 percent a year ago
- 21 percent plan to hire additional part-time or seasonal workers for the summer
The restaurant industry segment reported the strongest optimism and expectation for growth in the latest EMPLOYERS Small Business Opinion Poll with 61 percent expecting the U.S. economy to improve in 2012 and 61 percent saying they expect their businesses to grow over 2011 levels. The restaurant industry also leads the way in job creation plans among small businesses with 39 percent saying they are currently hiring and 42 percent indicating they plan to hire additional workers for the summer season. Other industries feeling more bullish about their ability to grow revenue in 2012 include the communication industry (53 percent), manufacturing (52 percent) and financial services (51 percent).
About the Small Business Opinion Poll
The study commissioned by EMPLOYERS surveyed 500 owners or managers of small businesses with 1-99 full-time employees. Data was collected through telephone interviews during the period Feb. 16 Feb. 23, 2012 at the 95 percent confidence level. The sample is stratified across business size and industry grouping, including manufacturing/construction, transportation/communication, wholesale/retail, financial services, or personal/professional services businesses. The survey was conducted by ORC International through its Small Business CARAVAN.
About Employers Holdings, Inc. (EIG)
Employers Holdings, Inc. is a holding company with subsidiaries that are specialty providers of workers' compensation insurance and services focused on select small businesses engaged in low-to-medium hazard industries. The company, through its subsidiaries, operates coast to coast. Insurance is offered by Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, and Employers Assurance Company, all rated A- (Excellent) by A.M. Best Company. Not all insurers do business in all jurisdictions. Additional information can be found at: www.employers.com.
Copyright © 2012 EMPLOYERS. All rights reserved.
Employers Holdings, Inc.
Ty Vukelich, 775-327-2677
Vice President, Corporate Marketing
Vicki Erickson Mills, 775-327-2794
Vice President, Investor Relations
Source: Employers Holdings, Inc.Copyright Business Wire 2012