In a recently release survey of 436 small business owners sponsored by BIG Research and the Sam’s Club Small Business Index, 53% of the respondents who are expecting tax refunds plan to use that money to pay down debt. Another 30% plan on saving the money for a rainy day.
Business owners are more cautious this year compared to 2005. The primary reason being the rising cost of fuel. 24% of business owners say they have delayed major purchases and 35% say they are cutting back on entertaining clients.