The SNEWS® Mini Survey that ended Feb. 17, 2009 asked, “If the economy does not improve in the next six months, do you believe additional businesses are at risk of going under?” An overwhelming 90 percent of the responses were affirmative, while only 3 percent of all respondents felt more businesses were at risk. Just 7 percent indicated they thought that “maybe” more businesses were at risk of going under.
We gave respondents the option of telling us why and naming a business or channel. The responses ranged from noting that undercapitalized and small businesses with over-extended credit were in particular danger to simply, “if consumer spending stays low…” Specialty fitness, not surprisingly given all the coverage of its challenges of late in SNEWS, got some extra nods as a channel in particular trouble that will suffer more.
Our new survey question, “What are you doing differently to help your retail business survive the current economy?” is now live and awaiting your feedback.
To make your vote count, simply go to the SNEWS Reader Poll section in the right navigation bar of every web page in SNEWS or, click here.