U.S SMBs Unsure of Their Business Plans Due to Downturn

Discover Small Business Watch, reported that the expansion plans of small businesses showed some improvement in January, but again declined in February, showing no signs of improvement there on.

Discover’s monthly check, measured pulse of small business owners and found that it was 75.7 in March, which is down by 9.2 points from February and same as last year figures.

When asked about their businesses economic conditions, in March 53 percent (37% in february) of them say the situations may turn still worse in the next six months. Of the remaining, 20 percent expected things to get better, 20 percent expected them to remain same, and 6 percent are unsure.

When asked about their investment plans, 52 percent (43% in February) like to decrease spending, while 27 percent said that there are no changes in their investment plans and 18 percent said they are planning to increase spending.

On being asked about the direction in which economic conditions globally will move, 58 percent (up from 44% in February) said economy will get worse, while 22 percent (down from 31% in February) think it is improving, and 16 percent (24% last month) said it’s the same. When asked about the current economy, 59 percent say it poor, 31 percent viewed it fair, 6 percent said good, and 1 percent accepted it to be excellent.