Survey Says: What Snoop Dogg Can Teach You About Business

When Snoop Dogg said, "There will be ups and downs, smiles and frowns," he may as well have been talking about life as an entrepreneur. Some days you're soaring in euphoric delight, on others, you're in the depths of despair. And whether you're ready to chuck the whole entrepreneurship thing or remain determined to hang on, there's some good news for you. Here's a closer look at some of the latest small-business surveys.

Down in the Dumps

Small-business owners polled in the latest Discover Small Business Watch survey are feeling glum. More than three-fourths (78 percent) have not yet experienced a sustained recovery for their businesses, and one in seven of those entrepreneurs say their firms may never recover. Of those who do expect to recover, 45 percent expect it to take more than a year -- just 1 percent say they are currently experiencing recovery.

Seventy-seven percent of small-business owners say the economic climate of the past three years has hurt profitability. And two-thirds say they are "somewhat" or "very" likely to rely on personal assets to stay in business for the next 12 months.

This survey of small businesses with five or fewer employees is in drastic contrast to surveys done earlier this year, in which entrepreneurs were more upbeat about the economy and their own businesses.

Let's Do It Again

In contrast to the Discover survey findings, small-business owners in the latest Citibank small-business survey have a realistic, yet optimistic outlook about their businesses. First, the realism: The majority of respondents expect all costs associated with running their businesses to rise in the next 12 months, and 78 percent are concerned about the possibility of a double-dip economic recession.

However, 44 percent report doing better so far this year compared to 2010, and 33 percent say their "current conditions" are either excellent or good, up from 23 percent in March 2010. And in a ringing endorsement of business ownership, 64 percent say they would recommend entrepreneurship to their children -- an increase from 59 percent in September.

A Buyer's and a Seller's Market

Whether you're tired of business ownership and looking to sell your company, or so thrilled about being an entrepreneur that you're ready to acquire another business, we have some good news for you. According to the latest survey from BizBuySell.com, a site where you can buy or sell businesses nationwide, 75 percent of business brokers predict 2011 will be a good year for those looking to sell businesses.

For prospective buyers, there are two pieces of good news: Not only are more businesses coming on the market, but more favorable financing is becoming available. That said, lack of financing was cited by 48 percent of brokers as the major reason sales don't close.

Buying or selling, you've got time to make your move: The majority (66 percent) of brokers say it will take 18 months for the volume of transactions to return to pre-recession levels.

Rieva Lesonsky is CEO of GrowBiz Media, a content and consulting company that helps entrepreneurs start and grow their businesses. Follow Rieva at Twitter.com/Rieva and visit SmallBizDaily.com to sign up for her free TrendCast reports.