While nearly half of the small business owners who participated in a recent Wells Fargo/Gallup Small Business Index survey said they have a plan if their business hits a bump in 2009, most still had a positive outlook for the coming year.
Of those that have created a contingency plan, 58% said they would cut employees hours if their business' financial health declines, while 51% said they would eliminate positions.
On the other hand, nine in 10 called finding ways to operate more efficiently was a priority in 2009, while 89% want to increase sales and revenue. Almost 60% made expanding their business to reach more customers is a high priority this year, while 58% have put a priority on creating new or improved products and services.Low priorities include adding new employees (cited by 75% of respondents) and increasing investment in technology (63%).
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