Columbus, Ohio (PRESS RELEASE – December 27, 2010) – If the biggest lesson learned in an economic downturn is to do more with less, America’s small business owners have accomplished that by across-the-board cutbacks including staff, salaries and overhead. In a survey by Manta, the world’s largest online community for promoting and connecting small business, 85% of the respondents said they implemented some sort of cost cutting in 2010 to weather the economic downturn, and 36% said they cut their own salary. Despite putting less into their wallets, more than half of the small business owners surveyed (55%) will give year-end bonuses to their employees this year.
According to Manta’s recent Pulse of Small Business Survey of 763 small business owners, the majority of whom — 652 — have less than 10 employees, 32% of the respondents indicated they would give out about the same bonus as last year, while 17% said they would be giving their employees a smaller bonus. Only 6% of the owners are giving more this year. Forty-five (45%) said they never give year-end bonuses.
Manta’s Pulse of Small Business Survey was conducted over the past two weeks and queried small business owners about a number of topical issues. The entire results of the survey will be issued in January 2011.
Manta is the world’s largest online community for promoting and connecting small business. With more than one million registered users and 64 million company profiles, business owners and professionals use Manta to promote and differentiate their offerings and “be found” online by customers and prospects. Manta is ranked the third largest business news/research website by comScore and has an audience of 26 million from the U.S. and around the globe. Manta is ranked in Business Insider’s SAI Digital 100: The World’s Most Valuable Startups. Launched in 2005, Manta is privately held and based in Columbus, Ohio.