A recent press release by the George S. May International Company highlights a survey that shows small businesses and those that run them are feeling the effects of the recession where it hurts the most: their health.
The survey paints a bleak picture:
A new survey of 713 small business owners across the United States by management consulting firm George S. May International found that 52 percent experienced negative health effects – both physically and mentally – from the economic recession, and 27 percent do not have financial resources to weather the next quarter.
“These survey results show that small business owners must take action immediately to not only save their business, but to save their lives,” said Paul Rauseo, managing director of the George S. May International Company.
Eighty percent of the respondents give their business a nine-month lifespan if economic conditions do not improve, 16 percent said three months and four percent reported six months of survival.
Of course, the press release concludes with advise that the best salve is to “reach out for management help”, not a surprise considering the source (“…one of the most established management consulting firms in the United States”). Still, the numbers are telling. There’s still not a lot of optimism out there.
Source: Will Government Aid Come In Time For Small Business? (PDF file)




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