We all know what’s plaguing small businesses today - high health insurance and fuel/energy costs.
But what’s not a problem? A new survey says: Exporting products or services, access to high-speed internet and getting loans.
They were the least of 75 issues rated by 3,500-plus businesses across the country, according to a new survey by the National Federation of Independent Businesses, a policy and lobbying trade group headquartered in Washington, D.C.
The survey, sent out during the first quarter of this year, is done every four years, and it may reflect much of what Long Island business faces. Here, about 96 percent of companies have 50 or fewer workers, according to the Long Island Association, a leading business group.
Getting foreign business has been the bottom issue since the 1986 survey, according to the federation.
“Even with federal and state/local programs to promote exporting, small business owners show little interest,” said the report, Small Business Problems and Priorities. “Most small businesses are local. Their market is the town or community in which their business is located and the immediate environs. Growth means expanding to the region, not going overseas. Plus, the economy has been strong. There is plenty of business, if not locally, then somewhere in the United States. So, why bother with the hassle of trying to sell abroad? Matters could change. A weak dollar, more interactive Web sites, and a slowing U.S. economy could entice more small business owners to find export markets.”
Also noteworthy, it seems that the mortgage crisis and tighter credit market haven’t sunk the dreams of small businesses, survey results show. Borrowing money even fell in ranking as an issue over the years. Long-term loans, considered five years or more, ranks 73rd in the current survey, down from 68th in the last survey, in 2004. Short-term borrowing, defined as less than 12 months or revolving loans, was No. 72 on the survey, down two notches from the last survey.
“Small business owners have generally been able to obtain adequate debt financing for many years, albeit more expensive at times,” the report said.
--Ellen Yan