Small businesses believe their prospects are on 'life support'

A significant number of small business owners believe the prospects of starting up and running an organization are less than favorable, it has been reported.

In research conducted by the Small Business & Entrepreneurship (SBE) Council, it was revealed that more than half (57 percent) of small business owners believe that the American Dream of creating - and going on to expand - a business is currently on 'life support.'

Meanwhile, 36 percent believe that the ability to do this remains 'alive and well.'

Some 6 percent, meanwhile, believe that the prospect of starting up is a business is 'dead.'

Karen Kerrigan, president and CEO of the SBE Council, said, "The good news is that a solid percentage of entrepreneurs remain optimistic and we will need their attitude in the days ahead to get us [through] these rough economic conditions."

However, she pointed out that as "many business owners are hurting out there" such firms need to develop a "sense of optimism and certainty" to help get out of the financial crisis.

Meanwhile, 48 percent of small businesses believe that Barack Obama will be able to address their concerns better than John McCain would have.

In other news, a study by O'Neil Associates revealed that 45 percent of small businesses in Arizona believe their current profits are below those recorded in 2007.

Those looking for an effective way to meet financial goals, whether it is sustaining a healthy bottom line or making payroll, might want to consider taking out a nontraditional business loan.