The economy has brought a lot of uncertainty to small businesses and entrepreneurs, and many are dissatisfied with the way the government has handled the fiscal cliff and debt ceiling. According to a new Manta survey of more than 1,300 small business owners released today, 82 percent did not make any new hires from October through December of 2012. More than half of these same business owners (65 percent) don't plan to add staff in the first quarter of 2013, and four out of 10 are waiting to hire people because of the economic mess that has not yet been resolved by Congress and the President.
Not surprisingly, the economy ranks at the top of stressors for small business owners and entrepreneurs, with 76 percent disapproving of the job that Congress and the President are doing to manage the budgetary issues. Additionally, 14 percent of small businesses don't plan to increase pay or give out bonus, and 13 percent are cutting all discretionary spending.
A few are optimistic, however. According to Manta's survey, 78 percent of these small business owners and entrepreneurs are predicting growth this year - but it seems to be coming at a price. Those small business owners are forging ahead in rough economic waters, and it's costing them their health. Only 29 percent of these business owners are keeping up their healthy habits from last year, and they work more (over 50 hours a week) and sleep less (6 hours a night).
“I’m always hopeful about the year ahead, but I also know it’s on me to make it happen,” said Stuart Rubenstein, co-owner of Florida-based Kaleidoscope Limited, in a prepared statement. “As a result, it’s often my personal health that takes a back seat.”