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China holiday in 2009:
New Year's Day: 01.Jan.09 to 03.Jan.09 working 04.Jan.09
Spring Festival: 25.Jan.09 to 31.Jan.09 working 24.Jan.09 and 01.Feb.09
Ching Ming Festival: 04.Apr.09 to 06.Apr.09
Labor Day: 01.May.09 to 03.May.09
Dragon Boat Festival: 28.May.09 to 30.May.09 working 31.May.09
National Day & Mid-Autumn Festival: 01.Oct.09 to 08.Oct.09 working 27.Sep.09 and 10.Oct.09

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U.S. Small Business Owners Show Optimism

Published on 2009-02-18 being readed 1331 times

A December 2008 review of small business owners says 86 percent expect to be in the same or better economic shape by the end of the year.

Despite the fact that 67 percent don’t think there will be a significant improvement in the economy until 2010, only 12 percent said they planned to cut staff this year; 13 percent think their workforce numbers will increase and 74 percent expect the status quo.

Sponsored by UPS, the survey of companies with up to 250 employees concluded that small-business owners are optimistic about the economy because "they love what they do".

According to Mike Williams, COO of Florida-based Sunteck Transport Group, love it or not the economy will only improve as consumer confidence returns and there is access to affordable credit. He doesn’t think this is likely to happen for several quarters.

"Regions that will likely show growth are those where operating costs are lower. Historically it has been cheaper to make and sell products in the Southeast than the Northeast."

Although President Obama has proposed a new "green" economy, Williams is cautious about relying on it. "While sustainability initiatives are important, they are likely to be secondary when it comes to just surviving. Companies may scale back until their bottom lines are better equipped to support them."

Noting the new Administration is promoting infrastructure renewal in order to create jobs, Williams expects it will mean increased taxes: "While it would be noble to think that the cost of these programs will be funded by companies who benefit most, the reality is taxpayers will likely foot the bill."

Because of the continuing meltdown in the global financial markets, Sunteck’s COO doesn’t think it will be business as usual for the 111th U.S. Congress - or the economy. "The events of the past year would suggest more of an economic paradigm shift rather than just another down cycle."

However he’s not confident that manufacturers will alter their supply chains and source from the U.S. rather than Asia in a bid to increase employment and fuel domestic economic growth.

"Unless ’Made in America’ becomes more price competitive in global markets, there is not likely to be a resurgence of sourcing domestically." The total landed cost will continue to be the primary driver for where goods are purchased he suggested.

The UPS survey concluded that while small business owners who do trade internationally are particularly optimistic about the future, they remain a very small percentage of the whole sector. The vast majority (73 percent) of respondents said they were not interested in cross-border expansion due to unfamiliarity with global markets and language barriers.