A majority of small-business owners responding to a recently completed Harris Poll apparently believe an economic recovery is on the horizon and are making plans to add employees during the next six months.
However, the owners said that current conditions are, at best, fair.
According to the poll, commissioned by Hewlett-Packard Co., 39 percent of those responding said current conditions are fair, while 25 percent said conditions are poor. Only 35 percent said current conditions are good or very good.
In spite of the economic downturn, 66 percent said that their businesses are doing well or excellent.
While 58 percent said they believe it is a bad time to be adding new employees, 56 percent said they likely will be adding new workers.
Despite a provision in the recently passed tax reform package that allows small-business owners to write off up to $100,000 in capital investments in fiscal 2003, owners appeared divided about whether it was a good time to invest additional capital into their firms.
According to the survey, 48 percent said it is a good time, while 40 percent said they believe it is a bad time.
However, 53 percent said they still plan to make some capital investments during the next six months.
SBA pushes for regulation limits
The Small Business Administration’s advocacy office has drafted model legislation for consideration by state legislatures mirroring a federal law forcing reductions in excessive regulation.
The intent is to encourage entrepreneurial success so that small business will continue to create jobs and expand the economy.
According to the advocacy office, a state seeking to reduce regulatory burdens needs to adopt legislation that:
Properly defines small business.
Includes a requirement that state agencies perform an economic impact analysis before imposing regulations.
Requires agencies to consider less burdensome rules and provides for judicial review.
Includes a provision that forces a review of all regulations.
Only New York, Connecticut, Michigan, Oklahoma, Arizona, Nevada, Hawaii and Puerto Rico have laws on the books that limit the regulatory environment.
Federal agencies plan conference
More Top Picks Best Large Print Books For Seniors
The Chicago Federal Executive Board, an organization of federal agencies with local offices, is sponsoring a procurement, matchmaking and training conference for small businesses on Wednesday at the Gleacher Center of the University of Chicago, 450 N. Cityfront Plaza Dr.
For more information, contact Elestine Harvey of the SBA at (312) 353-4599.