Economic confidence among small business owners fell marginally in May, slowing a sharp decline from the previous month, according the Discover® Small Business WatchSM. At 110.0, the Watch was down less than half of a percent from April’s 110.3, which represented a seven-point drop from a month earlier.


“Small business owners are heading into the summer season with some stability,” said Sastry Rachakonda, director of Discover’s small business credit card. “Cash flow issues and conditions for their own businesses have trended lower but the sharp drop from the previous month has largely halted.”

April Key Findings:

* 34 percent of small business owners feel that economic conditions for their business are getting worse, a slight increase from 32 percent in April and 26 percent in March.

* Small business owners who said they have encountered cash-flow issues over the past 90 days rose to 41 percent, up from 40 percent in April and 33 percent in March.

* 31 percent of business owners said they will spend less on business development, up from 29 percent in April and 25 percent in March.
Poll: Small Business Owners Work More, Play Less than Most of Us

Slightly more than one out of six small business owners work every day of the week compared to one out of every 16 people who work for someone else, this month’s topic survey found.

“Small business owners are the backbone of the American economy and among the hardest working people in America,” Rachakonda said. “Theirs is not a 9-to-5 job. It is more like a 5-to-9 undertaking, meaning 5 in the morning to 9 at night,” Rachakonda said.

Long Hours and Busy Weeks:

* Nearly one of three business owners, 31 percent, indicated they work at least 10 hours or more per day on average. Nearly one out of five non-business owners, 19 percent, worked the same each day.

* 15 percent of small business owners work every day of the week, more than twice as many, 6 percent, as the general population.
Similarly, 28 percent of small business owners work six days a week, compared to 15 percent of the general population.

* Nearly half of small business owners, 47 percent, said that they always or mostly work on official holidays.

Fewer Vacations, Greater Availability and Sympathetic Spouses

* More than half of the business owners, 52 percent, took seven days or less off work last year, compared to 36 percent of the general population.

* 59 percent of small business owners define a “day off” as being available for calls and emails, working some time or even working all day at a remote location. Only 32 percent of the general population does the same.

* More than half of small business owners, 55 percent, said their spouses approve of them checking email when they are off from work, compared to 37 percent of the general population.

“Small business owners are really focused on serving their customers every day. Our survey found that 40 percent of them carry wireless devices to keep in touch with their customers and clients when off work,” Rachakonda said. “Being a small business owner often means that you are always open for business.”