Take our poll then find out what other small-business owners are saying:
How much impact is the recession having on your business?
The recession is taking its toll on small businesses, according to several recent surveys.
Nine out of 10 small businesses and self-employed individuals have felt some impact from current economic woes, according to the National Association for the Self Employed (click on image for a larger view).
In fact, 43% say the recession that started a year ago is the worst they-ve ever experienced.More than 500 business owners participated in the unscientific online survey.
More than half said their 2008 gross revenues were worse than in 2007, while 24% said they were higher and 18% said there was no change.
However, 54% of respondents said their personal finances have taken a greater hit than their businesses. (Click here to see all survey results.)
In a separate monthly survey, members of the National Federation of Independent Business, expressed the fourth lowest optimism score (an index based on such factors as earnings and hiring plans) in the 35-year history of the survey.
Key to that pessimism was a downturn in earnings in the previous three months (click on image for larger view):
"The small-business economy is weak everywhere," said William Dunkelberg, NFIB chief economist. "Job creation plans were negative in all industries except non-professional services. More owners plan work force reductions than plan to increase employment in all nine census regions."
Click here to see the entire report (under Small Business Economic Trends)
NASE Executive Director Kristie Darien said, "The current economic slowdown is causing many challenges for micro-businesses. More small-business owners are being faced with difficult choices, such as cutting benefits and compensation for themselves or their employees."
When NASE asked what actions business owners are taking to deal with the difficult economic climate, their top answers (multiple answers allowed):
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