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

Are you more cautious this year compared to last year?

Nevil Speer

October 24, 2013

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

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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About the Author(s)

Nevil Speer

Nevil Speer serves as an industry consultant and is based in Bowling Green, KY.

Nevil Speer has extensive experience and involvement with the livestock and food industry including various service and consultation projects spanning such issues as market competition, business and economic implications of agroterrorism, animal identification, assessment of price risk and market volatility on the producer segment, and usage of antibiotics in animal agriculture.
Dr. Speer writes about many aspects regarding agriculture and the food industry with regular contribution to BEEF and Feedstuffs.  He’s also written several influential industry white papers dealing with issues such as changing business dynamics in the beef complex, producer decision-making, and country-of-origin labeling.
He serves as a member of the Board of Directors for the National Institute for Animal Agriculture.
Dr. Speer holds both a PhD in Animal Science and a Master’s degree in Business Administration.

Contact him at [email protected].

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