GROW

Fewer Businesses Expect to Grow

The economic crisis has many small-business owners reducing costs to retain current customers, a survey finds.
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Small-business owners say they're getting increasingly worried about the impact of the economic crisis on their companies.

In a recent national survey of 751 small-business owners by Intuit, a Calif.-based software firm, only 64 percent said they expect their businesses to grow this year, down 13 percent from a similar survey conducted in April.

Despite the bleaker outlook, the survey also found owners were busy developing strategies to attract new customers. As many as 82 percent said they still see opportunities in the months ahead, with many saying they've steered companies through hard times before.

Some of the key strategies owners cited include reducing costs and focusing efforts on retaining current customers, the survey found.

Last updated: Oct 30, 2008




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