What is Stunting Small Business Growth?

ROI J NFIB The Voice of Small Business. NFIB.com/growthfacts What is Stunting Small Business Growth? Surviving in a down economy is tough enough for small businesses; growing is an even bigger feat. In a national poll last fall, NFIB asked owners about external factors impeding their businesses' growth. We highlight their obstacles and chart their plans. Baby Steps Almost three-quarters of small business owners want to grow their companies-albeit at a slow pace. Here's what they plan to do in the next five years: Where are the Customers? 53% 43% Want to add 1 to 4 employees 14% 17% Want to add 5 to 9 employees Want to add at OF OWNERS least 10 employees S AY LACK 18% OF DEMAND Do not want to add or IS A KEY subtract employees FACTOR IMPEDING 2% 6% employees GROWTH. Unsure of plans Want to subtract Stay the Course Despite lack of demand, most owners don't expect to change their marketing plans: Regulation Frustration Forty percent of small employers say regulatory or legal issues impede growth. Because of regulations: 52% 20% of owners incurred increased planned project or costs for a project or investment 19% delayed a 13% cancelled a project or investment 11% halted plans for a project EXPECT LITTLE investment TO NO CHANGES 15% Scared of the Unknown 3 out of 5 owners believe uncertainty economic and political- impedes growth. EXPECT SIGNIFICANT CHANGES SOURCEJ NFBS National Smal Busiress Pol "Growth-Exterral mpediments," November 2011