STORY:
Small Businesses Improving On Y2K

It appears small business is improving it's approach for preparing for any Y2K computer bug crisis. In a it's third survey on the matter, the National Federation of Independent Businesses Education Foundation and Wells Fargo says nearly 3 million small businesses are making preparations. According to a story appearing in the Deseret News, the number represents a dramatic increase from the same survey conducted a year ago.

The Gallup Organization conducted the nationwide survey of 500 small-business owners. In the first survey done a year ago, more than three-quarters of the small-business owners exposed to Y2K problems had done nothing to avoid the "millennium bug," and half said they had no plans to do anything about it.

In the second survey conducted in October 1998, results showed some progress was being made, but more had to be done.

In the latest survey, the report says nearly 1 million small-business owners have taken action to avoid potential problems connected to the Year 2000. That brings the total number of small-businesses surveyed working on the problem to 2.8 million.

The report says fifty-four percent of the business owners surveyed have checked with suppliers and financial institutions to get ready for the millennium and guard against any problems.

The survey also found that about 575,000 more small-business owners still plan to check into potential Y2K problems. Still, almost 1.4 million other small companies' owners said they planned to take no action at all. Of these individuals, one-third said they thought the problem was being blown out of proportion, 25 percent said they would fix whatever goes wrong if something goes wrong, 13 percent saw it as an unnecessary expense and 12 percent said they believed it would affect only big businesses.

Source: Deseret News

DATE: 5/26/99

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