The American Express OPEN Small Business Monitor, a semi-annual survey of business owners, revealed that more entrepreneurs will be taking summer vacations this year--and they don't feel bad about it. According to the survey, 59 percent of small-business owners plan to escape for at least one week during the summertime. This is especially significant considering many business owners continue to face common cash flow issues, and the strain of rising gas prices and energy costs.
The survey reveals about 71 percent of small business owners say they can vacation guilt-free. But of course, being entrepreneurs, 81 percent will check in, at least once, with the office while they're gone. Some will combine business trips with vacations.
While more than half of small-business owners plan to travel, according to an a new survey commissioned by Access America conducted by Ipsos Public Affairs, only about one-third of Americans will be traveling, thanks to the uncertain economy. And almost half of those who have vacation plans expect to scale back. Phyllis Korkki of The New York Times notes that although this may not be good for some travel destinations (both abroad and on the mainland), it may benefit small business, with customers staying closer to home and local businesses.--Whitney Chen
Posted by Kristin Chessman at 05/19/2008 10:48:28 PM