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Industry At A Glance: Is Small Business Adapting To Stress?

small business owner concerns
Are you more cautious this year compared to last year?

The Hartford recently released its third annual "Small Business Success Study." There are a number of interesting aspects contained within the results, which based upon a total of 2,000 national interviews with small business owners. Among these are respondents’ general perceptions of what’s occurring out there in the business environment.

One of the more intriguing findings surrounds differences in attitude between new companies (in business 1-2 years) vs. those that are well established (40+ years). New company owners are far more optimistic about the national economy (64%) vs. established owners (only 45%).

The most important highlight of the study, though, revolves around key risk factors going forward. The graph below details general perceptions among respondents in 2013 vs. 2012. Overall, slow economic growth, taxes and healthcare costs continue to be important considerations in 2013, but concern over them has declined since 2012.

small business owners: factors impacting success

The study provides an interesting backdrop for comparison and contrast vs. perceptions among cattle producers in the U.S. How would you perceive these risk factors in your cattle business in 2013 vs. 2012, and their relative contribution to your success going forward? Are you more cautious this year compared to last year? Simultaneously, these findings also possess important implications for small business owners in rural America. How would you perceive their assessment of these findings?

Leave your thoughts below.


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