Small Businesses on Long Island Report Improvements

John Mitty Thursday, March 14, 2013

The general thinking these days is that economic conditions on Long Island are pretty dire, but there may be some hope after all.  A new study sponsored by the Bethpage Federal Credit Union and conducted by the Stony Brook University Center for Survey Research reveals that there have been some improvements among many of the small businesses on Long Island.  603 businesses responded to the survey.  The businesses in question had annual revenues totaling up to $10 million. 

More than a quarter of the business owners stated they would rate the national economy as very good or fairly good, and more than half believed that 2013 would be an optimistic year for Long Island businesses.  Around a quarter believed that it is likely they will expand in the next five years.  There is also an increasing move to hire children and other family members; around half of the businesses in question reported that their employees now include family members, whereas the number in 2011 was closer to a third. 

jmitty@longislandyellowpages.com

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