Michael Alter, president of payroll services company SurePayroll, said small business owners tend to be very reluctant to cut jobs because it's often a matter of firing a relative or friend who has been with the company for years.
Business owners' first inclination may be to absorb a few bad months by taking home less profit rather than axing jobs, which could help explain why larger firms were quicker to cut when the economy starting to sour.
Wednesday, January 7, 2009
Here's to small businesses
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