Sage Small Business Snapshot: Strong Majority of Small Business
Sage Small Business Snapshot: Strong Majority of Small Business Owners Are Worried About Fiscal Cliff
Worries About the Fiscal Cliff Top Concerns About Taxes and Government Spending
ATLANTA, GA -- (Marketwire) -- 12/12/12 -- Sage North America today announced the results of a small business owner snapshot survey that found most small business owners are very concerned over the outcome of fiscal cliff negotiations (70 percent) facing the Obama Administration and Congress. The survey showed that following the fiscal cliff, small business owners are most concerned about taxes, followed closely by government spending.
When asked about their support for ending the Bush-era tax cuts for couples making over $250,000, the majority of respondents favored a different approach, with 58 percent saying they would like lower tax rates while limiting deductions. When asked how their businesses have performed in 2012, 85 percent responded fair, good or very good. However, 48 percent say that their outlook for 2013 is now worse than it was before the election.
"Now that the election is over, one thing is very clear. Small business owners, like many Americans, are concerned about the fiscal cliff negotiations. The uncertainty related to the fiscal cliff has the potential of impeding economic growth, particularly among small businesses, and as an advocate for them we are very concerned. The lingering uncertainty around tax rates could continue to have a chilling effect on the economy and small businesses alike," said Connie Certusi, executive vice president and general manager at small business accounting solutions for Sage North America. "Small business owners are resilient, but uncertainty is the enemy of growth. Consequently, small business owners are counting on swift resolution to the fiscal cliff."
The survey was conducted among 238 small business owners during the 14-day period from Tuesday, November 13 through Monday, November 26. The margin of error is +/- 6% with a confidence level of 95 percent. The full report can be accessed here, along with an infographic.
About Sage Sage is a leading global supplier of business management software and services for small and midsized businesses. The Sage Group plc, formed in 1981, was floated on the London Stock Exchange in 1989 and now employs more than 13,500 people and supports more than 6 million customers worldwide. For more information about Sage in North America, please visit the company website at NA.Sage.com. Follow Sage North America on Facebook, Facebook.com/SageNorthAmerica, and Twitter, Twitter.com/SageNAmerica.
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