October 23, 2019

It’s been nearly a decade since the last U.S. recession, so many economic experts fear America is overdue for another one. However, according to a new poll by BlueVine in partnership with Reseachscape, of the 1,000 U.S. small business owners surveyed, 44 percent have not taken any steps to prepare for a possible recession. Other findings:

 

  • 80 percent of those small business owners are worried that a recession could happen.
  • Nearly a quarter said the possibility of a recession has affected their workforce directly, with 16 percent saying they’ve slowed down or stopped hiring new employees.
  • 7 percent have sought out temporary or contracted workers.
  • More than a third said they don’t plan to prepare for a possible recession within the next two years.

 

Some steps they plan to take are things like financing and diversifying their products and seeking new suppliers.

 

SOURCE: foxbusiness.com, 8/27/19