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Business prospects looking down for the rest of the year

Published:

The economy is causing many small business owners to be hesitant and approach operations differently as this year's presidential election draws closer. According to a recent survey conducted by Insperity, a provider of human resources and business performance solutions, more than 45 percent of small business owners are unsure about an economic recovery.

Sales are a major concern for survey respondents, as 51 percent expect their sales performance to increase through the end of the year, which is a decrease of 5 percent from a survey conducted in March.  

"Increasing economic uncertainty in the face of the 2012 national election is forcing many owners of small and medium-sized businesses to scale back the somewhat optimistic plans they formulated at the start of this year," said Paul J. Sarvadi, chairman and CEO of Insperity.

It is also hard to find small business owners who are bringing new employees into the fold. The survey found 65 percent of respondents are keeping their current staffing levels this year.

With the economy remaining volatile, business owners should make sure they are protected, and one way they can do that is to purchase small business insurance policies.

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