Small Businesses Remain Wary Of Hartford-area Economy's Future

Yet Hartford business owners though still generally cautious are hiring workers more often than small businesses are nationally. Connecticuts address software for small business small companies have adjusted to the new normal an extended period of average sub-par economic growth since the last recession ended three years ago, said Liam E. McGee, The Hartfords chief executive officer. Small firms have reset their expectations, he said, adding that many of these entrepreneurs still have deep scars from the Great Recession. They choose their clients with greater care and they hoard cash. Despite seven out of 10 businesses surveyed feeling their company operates successfully, a matching number said their risk-taking hiring workers, adding new products or services, investing in equipment hasnt changed over the past year. What we may be dealing with is a vicious cycle, McGee said, adding that while businesses are waiting for consumer demand to grow behind hiring more staff, consumers are holding onto their cash until the job market improves. But Malloy insisted there are reasons for Connecticuts small businesses to feel greater optimism about the future.