The crisis will end…
The prolonged economic slowdown clearly leaves its mark on running a business.
High inflation, low economic growth and high costs of doing business are the conditions in which entrepreneurs currently run their business. No wonder that this has an impact on the assessment not only of the current situation, but also on making forecasts regarding the end of the prolonged crisis. Both perspectives are visible in the nationwide survey entitled “Business Expenditure Barometer” conducted at the turn of March and April on a group of 500 owners of one-person businesses.
The aim of the study was to learn about the moods of entrepreneurs, their forecasts on the duration of the crisis and ways to deal with the current situation.
The majority of respondents (40%) say that the crisis will last three more years. Slightly fewer (nearly 36%) indicate a two-year trial period, and only 25% of respondents expect the situation to improve in a year.
The conducted study allowed to notice certain regularities. Skeptical entrepreneurs are dominated by those who already assess the condition of their company negatively, have been operating on the market for over 5 years and operate mainly in the production industry. On the other hand, entrepreneurs who assess the current situation of their business as positive, have a decidedly optimistic view of the future, have been on the market for less than 5 years and most often run transport companies.
Nearly 80% of respondents declare that they will take remedial steps either now or in the near future. As to the question, what will these actions be? Most of them point to reducing the costs of running a business (introducing savings) and increasing prices.