The results of the Discover Small Business Watch survey were released today, and the big news is just how much the recession has taken a bite out of business expansion plans. Only 19 percent of small-business owners polled in the survey plan to increase their spending on business development over the next six months. That's the lowest number in the survey's 30-month history.
On the brighter side, 53 percent of those surveyed do NOT plan on raising extra funds to stay in business. Of those that will, 20 percent on going to lean on family and friends for the financial support, with personal savings a close second at 19 percent. Somewhat surprisingly given our supposed "credit crunch," 18 percent will seek bank loans.
Click here for survey results from recent months.