Small Businesses Expect a double dip

Most small business owners in California are afraid the economy will go into a double-dip recession.

A survey released today by Citibank says 85 percent of the state's small business owners are concerned about a double dip.

The findings are in line with growing pessimism among some economists.

The survey added that 74 percent believe they've prepared themselves for another downturn. Some 67 percent say they've changed the way they're doing business, with many reducing their debt, increasing cash reserves or imposing hiring freezes.

Only 28 percent said their businesses are better off today than a year ago; 51 percent said they believe their business will do better over the next year.
Read more: http://blogs.sacbee.com/real_estate/archives/2010/09/small-businesse.html#ixzz0yJh2LdgL