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Ed Meek
CEO/Investment Advisor

Edge Portfolio Management

City:Winfield

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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Small-Business Owners Don't Expect Economy to Improve in 2012

Eighty-three percent say candidates' positions on economic issues will impact their vote.

| BY Donald Liebenson

Only one-third of America’s small-business owners are optimistic that the national economy will improve this year, according to a new report by The Hartford. On the bright side, more than two-thirds (68 percent) feel their businesses are operating at a successful level.

The more than 2,000 small-business owners surveyed are keeping a close watch on the upcoming election. Eighty-three percent said that the candidates’ positions on issues that affect small-business will impact their vote.

The issues they consider to be the greatest risks to their business include slow economic growth, taxes, and uncertainty over federal regulations. More than three-quarters (77 percent) believe taxes will likely increase. Seventy-one percent said they plan to offset the anticipated impact by taking less money out of the business, while two-thirds of respondents said they will pass along the added costs to customers.

Fewer than half (41 percent) said they are currently focused on growth, compared with 51 percent last year. More than two-thirds (67 percent) said they do not intend to hire in the next year, while 59 percent said they have not hired in the past 12 months. Just over half (52 percent) are trying to maintain their current size.

In this prolonged economic downturn, job-one for small-business owners is finding ways to cut costs (80 percent), strengthening existing client relationships (76 percent), prospecting new clients (69 percent) and refining business strategy (65 percent).

The Hartford’s survey mirrors recent Millionaire Corner surveys of affluent households that find similar concerns over national issues. More than seven-in-ten Millionaire small-business owners said they are most concerned about the national debt, the stagnant economic recovery, the partisan political environment, and the upcoming general election.

Sixty-two percent said they are very worried about the upcoming collection. When asked about specific economic issues, half said they are very worried about the fiscal cliff, while 48 percent said they are worried about the other party’s candidate being elected, a reflection of the uncertainty over economic policies and regulations

Forty-four percent of small business owners surveyed by Millionaire Corner, do not believe they are better off financially than they were a year ago. When asked why, 54 percent believe the economy is getting worse, while 45.5 percent attribute their pessimism to the poor performance of their portfolios.

Only one-third of America’s small-business owners are optimistic that the national economy will improve this year, according to a new report by The Hartford. On the bright side, more than two-third (68 percent) feel their businesses are operating at a successful level.

The more than 2,000 small-business owners surveyed are keeping a close watch on the upcoming election. Eighty-three percent said that the candidates’ positions on issues that affect small-business will impact their vote.

This issues they consider to be the greatest risks to their business include slow economic growth, taxes, and uncertainty over federal regulations. More than three-quarters (77 percent) believe taxes will likely increase. Seventy-one percent said they plan to offset the anticipated impact by taking less money out of the business, while two-thirds of respondents said they will pass along the added costs to customers.

Fewer than half (41 percent) said they are currently focused on growth, compared with 51 percent last year). More than two-thirds (67 percent) said they do not intend to hire in the next year, while 59 percent said they have not hired in the past 12 months. Just over half (52 percent) are trying to maintain their current size.

In this prolonged economic downturn, job-one for small-business owners is finding ways to cut costs (80 percent), strengthening existing client relationships (76 percent), prospecting new clients (69 percent) and refining business strategy (65 percent).

The Hartford’s survey mirrors recent Millionaire Corner surveys of affluent households that find similar concerns over national issues. More than seven-in-ten small-business owners said they are most concerned about the national debt, the stagnant economic recovery, the partisan political environment, and the upcoming general election.

Sixty-two percent said they are very worried about the upcoming collection. When asked about specific economic issues, half said they are very worried about the fiscal cliff, while 48 percent said they are worried about the other party’s candidate being elected, a reflection of the uncertainty over economic policies and regulations

Forty-four percent of small business owners surveyed by Millionaire Corner, do not believe they are better off financially than they were a year ago. When asked why, 54 percent believe the economy is getting worse, while 45.5 percent attribute their pessimism to the poor performance of their portfolios.



About the Author


Donald Liebenson

dliebenson@millionairecorner.com

Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.  

A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.