Small-Business Conditions

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New Jersey Small-Business Conditions, December 2005
12/01/2005

View the data below for more information on the New Jersey Small-Business ConditionsTM survey from November 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 14 4.0 4.0 4.0
Supportive 93 26.5 26.5 30.5
Neutral 122 34.8 34.8 65.2
Not Supportive 63 17.9 17.9 83.2
Not at All Supportive 28 8.0 8.0 91.2
DK 26 7.4 7.4 98.6
Refuse 5 1.4 1.4 100.0
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 41 11.7 11.7 11.7
Good 118 33.6 33.6 45.3
Just OK 145 41.3 41.3 86.6
Poor 32 9.1 9.1 95.7
Very Poor 12 3.4 3.4 99.1
DK 3 .9 .9 100.0
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 16 4.6 4.6 4.6
Slowly Improving 38 10.8 10.8 15.4
Improving 18 5.1 5.1 20.5
Stable 208 59.3 59.3 79.8
Deteriorating 20 5.7 5.7 85.5
Slowly Deteriorating 40 11.4 11.4 96.9
Rapidly Deteriorating 6 1.7 1.7 98.6
DK 5 1.4 1.4 100.0
Total 351 100.0 100.0
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Q4. Over the 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 147 41.9 41.9 41.9
No 203 57.8 57.8 99.7
DK 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 144 41.0 41.0 41.0
No 203 57.8 57.8 98.9
DK 3 .9 .9 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 upgrade the skills of one or more employees?

Frequency Percent Valid Percent Cumulative Percent
Valid Yes 149 42.5 42.5 42.5
No 199 56.7 56.7 99.1
DK 3 .9 .9 100.0
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 67 19.1 19.1 19.1
No 281 80.1 80.1 99.1
DK 3 .9 .9 100.0
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 86 24.5 24.5 24.5
Fallen 17 4.8 4.8 29.3
Stayed the same 236 67.2 67.2 96.6
DK 10 2.8 2.8 99.4
Ref 2 .6 .6 100.0
Total 351 100.0 100.0
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Q9. Which cost pressures are greater for your business...

Frequency Percent Valid Percent Cumulative Percent
Valid Wages 171 48.7 48.7 48.7
Benefits 126 35.9 35.9 84.6
Both the same 18 5.1 5.1 89.7
Neither 20 5.7 5.7 95.4
DK 13 3.7 3.7 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 78 22.2 22.2 22.2
Increased Somewhat 123 35.0 35.0 57.3
Increased [no amount] 10 2.8 2.8 60.1
About the Same 128 36.5 36.5 96.6
Decreased [no amount] 3 .9 .9 97.4
Decreased Somewhat 1 .3 .3 97.7
Decreased a Lot 2 .6 .6 98.3
DK 5 1.4 1.4 99.7
Ref 1 .3 .3 100.0
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 17 4.8 4.8 4.8
Increased Somewhat 62 17.7 17.7 22.5
Increased [no amount] 10 2.8 2.8 25.4
About the Same 238 67.8 67.8 93.2
Decreased [no amount] 6 1.7 1.7 94.9
Decreased Somewhat 8 2.3 2.3 97.2
Decreased a Lot 1 .3 .3 97.4
DK 8 2.3 2.3 99.7
Ref 1 .3 .3 100.0
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. 122 34.8 34.8 34.8
All of my credit needs were NOT satisfied. 39 11.1 11.1 45.9
I did not want to borrow. 178 50.7 50.7 96.6
DK 10 2.8 2.8 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 39 11.1 11.1 11.1
Good 135 38.5 38.5 49.6
Just OK 123 35.0 35.0 84.6
Poor 32 9.1 9.1 93.7
Very Poor 7 2.0 2.0 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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Q14. Over the last three months, have profits been...?

Frequency Percent Valid Percent Cumulative Percent
Valid Very Good 18 5.1 5.1 5.1
Good 110 31.3 31.3 36.5
Just OK 160 45.6 45.6 82.1
Poor 42 12.0 12.0 94.0
Very Poor 8 2.3 2.3 96.3
DK 11 3.1 3.1 99.4
Ref 2 .6 .6 100.0
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 176 50.1 50.1 50.1
No 142 40.5 40.5 90.6
DK 32 9.1 9.1 99.7
Ref 1 .3 .3 100.0
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 36 10.3 10.3 10.3
No 309 88.0 88.0 98.3
DK 4 1.1 1.1 99.4
Ref 2 .6 .6 100.0
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 49 14.0 14.0 14.0
Good 151 43.0 43.0 57.0
Just OK 110 31.3 31.3 88.3
Poor 22 6.3 6.3 94.6
Very Poor 8 2.3 2.3 96.9
DK 10 2.8 2.8 99.7
Ref 1 .3 .3 100.0
Total 351 100.0 100.0
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Q18. Why do you think so?

Frequency Percent Valid Percent Cumulative Percent
Valid Sales prospects 107 30.5 53.5 53.5
Lower costs 8 2.3 4.0 57.5
Price increases 10 2.8 5.0 62.5
Greater productivity, such as better equipment or a great hi 23 6.6 11.5 74.0
Government policies, such as regulations and taxes 9 2.6 4.5 78.5
SEASONAL WEATHER 13 3.7 6.5 85.0
Other 18 5.1 9.0 94.0
DK 11 3.1 5.5 99.5
Ref 1 .3 .5 100.0
Total 200 57.0 100.0
Missing System 151 43.0

Total 351 100.0

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Q19. Why do you think so?

Frequency Percent Valid Percent Cumulative Percent
Valid Sales prospects 5 1.4 16.7 16.7
Cost increases 5 1.4 16.7 33.3
Pressure on selling prices 1 .3 3.3 36.7
Lower productivity, such as loss of a key employee or aging 2 .6 6.7 43.3
Government policies, such as regulations and taxes 9 2.6 30.0 73.3
SEASONAL WEATHER 4 1.1 13.3 86.7
Other 2 .6 6.7 93.3
DK 2 .6 6.7 100.0
Total 30 8.5 100.0
Missing System 321 91.5

Total 351 100.0

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Q20. I am going to read you a list of possible business problems. What is the single most important problem facing your business today?

Frequency Percent Valid Percent Cumulative Percent
Valid Weak Sales 40 11.4 11.4 11.4
Taxes 44 12.5 12.5 23.9
Employee quality or costs 32 9.1 9.1 33.0
Insurance 54 15.4 15.4 48.4
Big business competition 45 12.8 12.8 61.3
Inflation and rising prices 39 11.1 11.1 72.4
Credit availability or interest rates 11 3.1 3.1 75.5
Regulations Red tape 28 8.0 8.0 83.5
Other 18 5.1 5.1 88.6
DK 17 4.8 4.8 93.4
Ref 6 1.7 1.7 95.2
NONE NO PROBLEMS 17 4.8 4.8 100.0
Total 351 100.0 100.0
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SS13. What has been the impact on your business of the recent run-up in energy prices?

Frequency Percent Valid Percent Cumulative Percent
Valid Seriously negative 36 10.3 16.1 16.1
Somewhat negative 42 12.0 18.8 35.0
Slightly negative 72 20.5 32.3 67.3
No impact 51 14.5 22.9 90.1
Positive 6 1.7 2.7 92.8
DK 11 3.1 4.9 97.8
Refuse 5 1.4 2.2 100.0
Total 223 63.5 100.0
Missing System 128 36.5

Total 351 100.0

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SS14. What is the single most important action you have recently taken to offset rising energy costs?

Frequency Percent Valid Percent Cumulative Percent
Valid Raised selling prices 68 19.4 19.4 19.4
Invested in energy-conserving equipment or vehicles 29 8.3 8.3 27.6
Reduced energy use 85 24.2 24.2 51.9
Absorbed costs with lower earnings 60 17.1 17.1 68.9
Reduced non_energy costs such as payroll 19 5.4 5.4 74.4
Other 35 10.0 10.0 84.3
DK 40 11.4 11.4 95.7
Refuse 15 4.3 4.3 100.0
Total 351 100.0 100.0
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