Long Island Small Businesses Expect to Hold Onto Cash as Sales Rise This Quarter

    HAUPPAUGE, NY, October 18, 2012 /24-7PressRelease/ -- Long Island small business owners and executives appear bullish on expected sales this quarter, but they're not keen to put that cash into new hires or expansion plans, according results this month from the HIA-LI Small Business Economic Environment Poll. HIA-LI, the recognized voice for business on Long Island, and a powerful force and economic engine for regional development for over 30 years, polled association members who are owners, executives or managers at businesses with fewer than 500 employees. They were asked to provide their insights and attitudes about the Long Island Small Business Economic Environment, focusing on the current quarter, from October to December 2012.

"The results from our poll show that Long Island small businesses are realistic about recovery efforts," said Terri Alessi-Miceli, HIA-LI president. "They know cash flow is the life's blood for their businesses and while they are optimistic about sales, they are planning to hold that cash through the current quarter."

By polling its small business members and sharing the results, HIA-LI is helping regional small business better gauge where they stand among their peers and plan for their own businesses.

Fourth Quarter 2012 HIA-LI Small Business Economic Environment Poll Results
The majority of respondents work at services businesses (63 percent) with fewer than 26 employees (78 percent).
- 40 percent plan to increase employment
- 36 percent plan to make capital outlays
- 49 percent expect the economy to improve
- 64 percent expect sales to rise
- 48 percent expect credit conditions to improve
- 44 percent expect to expand the business

HIA-LI conducted its poll online during the beginning of October 2012. Respondents were asked to self-select the type and size of their businesses and only those respondents in businesses with fewer than 500 employees were asked to continue the poll. HIA-LI plans to conduct another poll next quarter to compare the results.

About HIA-LI
HIA-LI helps Long Island businesses prosper. For over 30 years, we have been the recognized voice for business on Long Island and a powerful force and economic engine for regional development. We provide a forum for business leaders to network, problem solve and obtain advice on critical issues facing their businesses. Our member companies represent tens of thousands of business professionals. We're headquartered in and support one of the largest industrial parks in the United States. HIA-LI programs and events promote strategic partnerships, targeted networking, and information sharing and business advocacy. Members benefit from our committees, educational programs, career resources, research capabilities, mentoring opportunities and business advisory services. For more information, visit http://www.HIA-LI.org or call 631-543-5355.

HIA-LI CONTACT:
Terri Alessi-Miceli, 631-543-5355, [email protected]

MEDIA CONTACT:
Arthur Germain, Communication Strategy Group; 1-866-997-2424; [email protected]

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