Sanjeev Aggarwal, Partner
Laurie McCabe, Partner
Sponsored by Campaigner
Small Business Economic Outlook and Challenges
This report, the first of two, highlights key findings from a survey conducted in July 2009 by Hurwitz & Associates, and is sponsored by Campaigner. The survey investigates how North American small businesses with 1-20 employees are succeeding today, and how they are adapting their marketing plans and budgets to compete more effectively.
The economic environment has been challenging for many businesses. In many industries, fewer customers are buying. Those who do make purchases are often spending less. Even as competition intensifies, many businesses have been scrambling to do more with fewer resources. With limited cash flow and capital reserves, small businesses have been particularly challenged to grow their business. For instance, median annual revenue for businesses with 2-4 employees is under $250,000 (Figure 1).