Small-Business Conditions

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New Jersey Small-Business Conditions, June 2005
06/01/2005

View the data below for more information on the New Jersey Small-Business ConditionsSM survey from June 2005.

Q1. Do you consider the New Jersey business environment, including government officials, bankers, media outlets, community organizations, etc., to be highly supportive, supportive, neutral, not supportive or not at all supportive of small business?

Frequency Percent Valid Percent Cumulative Percent
Valid Highly Supportive 12 3.4 3.4 3.4
Supportive 108 30.8 30.8 34.2
Neutral 99 28.2 28.2 62.4
Not Supportive 53 15.1 15.1 77.5
Not at All Supportive 30 8.5 8.5 86.0
DK 49 14.0 14.0 100.0
Total 351 100.0 100.0
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Q2. Do you believe that business conditions in your market area are CURRENTLY very good, good, just OK, poor, or very poor?

Frequency Percent Valid Percent Cumulative Percent
Valid Very good 38 10.8 10.8 10.8
Good 142 40.5 40.5 51.3
Just OK 119 33.9 33.9 85.2
Poor 31 8.8 8.8 94.0
Very Poor 12 3.4 3.4 97.4
DK 9 2.6 2.6 100.0
Total 351 100.0 100.0
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Q3. Are they improving, deteriorating, or more or less stable?

Frequency Percent Valid Percent Cumulative Percent
Valid Rapidly Improving 21 6.0 6.0 6.0
Slowly Improving 58 16.5 16.5 22.5
Improving 16 4.6 4.6 27.1
Stable 188 53.6 53.6 80.6
Deteriorating 5 1.4 1.4 82.1
Slowly Deteriorating 34 9.7 9.7 91.7
Rapidly Deteriorating 10 2.8 2.8 94.6
DK 19 5.4 5.4 100.0
Total 351 100.0 100.0
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Q4. Over last three months, have you upgraded the technology or changed the processes you use in order to make your business more productive?

Frequency Percent Valid Percent Cumulative Percent
Valid Yes 134 38.2 38.2 38.2
No 208 59.3 59.3 97.4
DK 8 2.3 2.3 99.7
Refuse 1 .3 .3 100.0
Total 351 100.0 100.0
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Q5. Over the last three months have you made one or more expenditures to purchase capital equipment or business vehicles, or to up-grade your facilities?

Frequency Percent Valid Percent Cumulative Percent
Valid Yes 131 37.3 37.3 37.3
No 208 59.3 59.3 96.6
DK 11 3.1 3.1 99.7
Refuse 1 .3 .3 100.0
Total 351 100.0 100.0
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Q6. Over the last three months, have you made one or more expenditures directly or indirectly to train or up-grade the skills of one or more employees?

Frequency Percent Valid Percent Cumulative Percent
Valid Yes 118 33.6 33.6 33.6
No 226 64.4 64.4 98.0
DK 7 2.0 2.0 100.0
Total 351 100.0 100.0
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Q7. Do you currently have one or more job openings?

Frequency Percent Valid Percent Cumulative Percent
Valid Yes 76 21.7 21.7 21.7
No 270 76.9 76.9 98.6
DK 5 1.4 1.4 100.0
Total 351 100.0 100.0
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Q8. Over the last three months, has your average per employee payroll cost risen, fallen, or stayed about the same?

Frequency Percent Valid Percent Cumulative Percent
Valid Risen 68 19.4 19.4 19.4
Fallen 13 3.7 3.7 23.1
Stayed the same 248 70.7 70.7 93.7
DK 21 6.0 6.0 99.7
Ref 1 .3 .3 100.0
Total 351 100.0 100.0
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Q9. Which cost pressures are greater for your business, [ROTATE] employee wages or employee benefits?

Frequency Percent Valid Percent Cumulative Percent
Valid Wages 173 49.3 49.3 49.3
Benefits 112 31.9 31.9 81.2
Both the same 22 6.3 6.3 87.5
Neither 21 6.0 6.0 93.4
DK 20 5.7 5.7 99.1
Ref 3 .9 .9 100.0
Total 351 100.0 100.0
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Q10. In the last three months, have the AVERAGE prices you paid for the goods and services purchased for your business increased, decreased or stayed about the same?

Frequency Percent Valid Percent Cumulative Percent
Valid Increased a Lot 60 17.1 17.1 17.1
Increased Somewhat 109 31.1 31.1 48.1
Increased [no amount] 9 2.6 2.6 50.7
About the Same 149 42.5 42.5 93.2
Decreased [no amount] 1 .3 .3 93.4
Decreased Somewhat 2 .6 .6 94.0
DK 21 6.0 6.0 100.0
Total 351 100.0 100.0
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Q11. In the last three months, have you increased, decreased, or kept your AVERAGE selling prices about the same?

Frequency Percent Valid Percent Cumulative Percent
Valid Increased a Lot 12 3.4 3.4 3.4
Increased Somewhat 57 16.2 16.2 19.7
Increased [no amount] 4 1.1 1.1 20.8
About the Same 252 71.8 71.8 92.6
Decreased [no amount] 3 .9 .9 93.4
Decreased Somewhat 7 2.0 2.0 95.4
Decreased a Lot 1 .3 .3 95.7
DK 13 3.7 3.7 99.4
Ref 2 .6 .6 100.0
Total 351 100.0 100.0
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Q12. Which BEST describes your situation over the last three months.

Frequency Percent Valid Percent Cumulative Percent
Valid All of my credit needs were satisfied. 140 39.9 39.9 39.9
All of my credit needs were NOT satisfied. 19 5.4 5.4 45.3
I did not want to borrow. 161 45.9 45.9 91.2
DK 29 8.3 8.3 99.4
Ref 2 .6 .6 100.0
Total 351 100.0 100.0
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Q13. Over the last three months, have sales been ____?

Frequency Percent Valid Percent Cumulative Percent
Valid Very Good 32 9.1 9.1 9.1
Good 142 40.5 40.5 49.6
Just OK 116 33.0 33.0 82.6
Poor 41 11.7 11.7 94.3
Very Poor 5 1.4 1.4 95.7
DK 15 4.3 4.3 100.0
Total 351 100.0 100.0
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Q14. Over the last three months, have profits been ____?

Frequency Percent Valid Percent Cumulative Percent
Valid Very Good 23 6.6 6.6 6.6
Good 116 33.0 33.0 39.6
Just OK 127 36.2 36.2 75.8
Poor 59 16.8 16.8 92.6
Very Poor 6 1.7 1.7 94.3
DK 17 4.8 4.8 99.1
Ref 3 .9 .9 100.0
Total 351 100.0 100.0
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Q15. Could you increase sales by 10 percent WITHOUT purchasing new equipment or hiring more employees?

Frequency Percent Valid Percent Cumulative Percent
Valid Yes 178 50.7 50.7 50.7
No 131 37.3 37.3 88.0
DK 39 11.1 11.1 99.1
Ref 3 .9 .9 100.0
Total 351 100.0 100.0
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Q16. At this time are you actively involved or investing in the startup of another business, separate and distinct from this one?

Frequency Percent Valid Percent Cumulative Percent
Valid Yes 45 12.8 12.8 12.8
No 298 84.9 84.9 97.7
DK 7 2.0 2.0 99.7
Ref 1 .3 .3 100.0
Total 351 100.0 100.0
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Q17. What are the prospects for your business over the next several months?

Frequency Percent Valid Percent Cumulative Percent
Valid Very Good 69 19.7 19.7 19.7
Good 144 41.0 41.0 60.7
Just OK 107 30.5 30.5 91.2
Poor 14 4.0 4.0 95.2
Very Poor 3 .9 .9 96.0
DK 13 3.7 3.7 99.7
Ref 1 .3 .3 100.0
Total 351 100.0 100.0
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Q18. Why do you think so? Is your optimism principally due to ____?

Frequency Percent Valid Percent Cumulative Percent
Valid Current positive trend 1 .3 .5 .5
Sales prospects 82 23.4 38.5 39.0
Lower costs 5 1.4 2.3 41.3
Price increases 6 1.7 2.8 44.1
Greater productivity, such as better equipment or a great hi 24 6.8 11.3 55.4
Government policies, such as regulations and taxes 12 3.4 5.6 61.0
Seasonal Weather 29 8.3 13.6 74.6
Other 20 5.7 9.4 84.0
DK 33 9.4 15.5 99.5
Ref 1 .3 .5 100.0
Total 213 60.7 100.0
Missing System 138 39.3

Total 351 100.0

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Q19. Why do you think so? Is your pessimism principally due to ____?

Frequency Percent Valid Percent Cumulative Percent
Valid Sales prospects 2 .6 11.8 11.8
Cost increases 1 .3 5.9 17.6
Lower productivity, such as loss of a key employee or aging 1 .3 5.9 23.5
Government policies, such as regulations and taxes 3 .9 17.6 41.2
Seasonal Weather 3 .9 17.6 58.8
Other 6 1.7 35.3 94.1
Ref 1 .3 5.9 100.0
Total 17 4.8 100.0
Missing System 334 95.2

Total 351 100.0

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Q20. What is the single most important problem facing your business today?

Frequency Percent Valid Percent Cumulative Percent
Valid Weak Sales 43 12.3 12.3 12.3
Taxes 33 9.4 9.4 21.7
Employee quality or costs 29 8.3 8.3 29.9
Insurance 69 19.7 19.7 49.6
Big business competition 45 12.8 12.8 62.4
Inflation and rising prices 34 9.7 9.7 72.1
Credit availability or interest rates 11 3.1 3.1 75.2
Regulations/Red tape 27 7.7 7.7 82.9
Other 13 3.7 3.7 86.6
DK 15 4.3 4.3 90.9
Ref 25 7.1 7.1 98.0
None/No problems 7 2.0 2.0 100.0
Total 351 100.0 100.0
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SS9. In what general area of the state budget are reductions MOST warranted?

Frequency Percent Valid Percent Cumulative Percent
Valid Education 28 8.0 8.0 8.0
Transportation and roads 24 6.8 6.8 14.8
Economic development 45 12.8 12.8 27.6
Health 59 16.8 16.8 44.4
Public welfare 36 10.3 10.3 54.7
Police and corrections 14 4.0 4.0 58.7
Other 24 6.8 6.8 65.5
DK 108 30.8 30.8 96.3
Ref 13 3.7 3.7 100.0
Total 351 100.0 100.0
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SS11. Which type of tax increase would have the most adverse effect on your business?

Frequency Percent Valid Percent Cumulative Percent
Valid Payroll taxes 71 20.2 20.2 20.2
Corporate income or franchise taxes 38 10.8 10.8 31.1
Real property taxes 45 12.8 12.8 43.9
Sales taxes 38 10.8 10.8 54.7
Personal income taxes 49 14.0 14.0 68.7
Personal property, including inventory, taxes 30 8.5 8.5 77.2
Other 8 2.3 2.3 79.5
DK 55 15.7 15.7 95.2
Ref 12 3.4 3.4 98.6
Fuel Taxes 1 .3 .3 98.9
All/Any 4 1.1 1.1 100.0
Total 351 100.0 100.0
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