article from www.nfibonline.com

So, how will this not effect the economy? Duh!

-- TA (sea_spur@yahoo.com), December 06, 1999

Answers

Try this link...

www.amcity.com

-- TA (sea_spur@yahoo.com), December 06, 1999.

I love this line-----

"Some individual businesses, however, "may even perish as a result."

Favourite words pre-Y2K

1. May 2. Might

3. Could

4. Maybe

5. possible

-- d----- (dciinc@aol.com), December 06, 1999.

NFIB ups its estimate of small firms unprepared for millennium bug;1.5 million plan to do nothing to reduce their risk of Y2K problems
 
 

WASHINGTON, Dec. 3, 1999 -- The number of small firms entering the New Year with no inoculation for the Y2K bug may be nearly two-thirds more than previously estimated, according to the latest study from the NFIB Education Foundation.

Based on data from an October survey, the new study concludes that virtually no small employers have launched efforts to bring their computers and other Y2K susceptible equipment into compliance since April. As a result, the foundation now estimates that between 1.25 and 1.5 million small employers will have made no effort to detect and correct any Y2K related glitches in their operating equipment before the New Year. In April, the foundation had estimated the year end number of unprepared small firms at a much more optimistic 850,000.

The dramatic revision reflects the finding that most small business owners who intended to start addressing the Y2K issue six months ago apparently have now scrapped those plans. "It's a stunning departure from past performance," said the foundation's Senior Research Fellow William J. Dennis. "Until now, our studies indicated that virtually every small business that planned to address the situation subsequently did so. That didn't happen with this last group. Most of April's planners seem to have changed their minds and now have no intention of working to reduce their Y2K risks." The NFIB Education Foundation has surveyed Y2K preparedness among small employers every six months since April of 1998.

According to the latest report, almost half (48 percent) of small employers have already acted to ensure they are Y2K ready, and another 4 percent plan to do so. Eighteen percent use no computers or other equipment that might fall prey to the millennium bug. But about a quarter (26 percent) -- nearly 1.5 million small employers -- have decided that, despite having equipment that might malfunction come the New Year, they will do nothing about it beforehand. Dennis predicts no last minute surge in Y2K compliance activity among small employers. "'Death-bed conversions' are always possible, but most small employers seem to be locked in," he said.

Dennis noted that, "though the number of small firms hoping to ride out the New Year without taking any Y2K-preventive action is disappointingly large, the economic and social impacts of malfunctions originating in these businesses will be disproportionately small." Non-preparing firms tend to be the smallest businesses, and their operations tend to be much less dependent on computers than those who have taken a preventive approach, he observed. "And, unquestionably, some of the non-preparers will luck out," he added. Almost one in six (15 percent) of those who have investigated their situation have discovered their equipment was already Y2K compliant, he noted.

Most small business owners have never taken Y2K concerns very seriously, according to the foundation's studies. At the time of NFIB's first survey (April 1998), 70 percent of small employers felt the problem was either "not very serious" or "not at all serious" as far as their operations were concerned. A year later, that proportion had increased to 75 percent. This October, it swelled to 83 percent, with nearly half (46 percent) saying Y2K was "not at all a problem" for them. In the last year, concern declined to the point that only half as many small employers now rate Y2K problems as being "very serious" or "somewhat serious."

The October study, "Small Business and the Y2K Problem: Part IV," found that while relatively few small firms began checking their Y2K status over the last six months, many that had begun to address the situation continued their activities. From April to October, the average amount spent on Y2K compliance by small employers rose two thirds, to $8,033 (from $4,800). The mean figure for expenditures already made and those planned also rose significantly (21 percent) to $9,654, during that period.

The latest study is based on results of an October telephone survey of small business owners. All 501 survey respondents employ at least one person, and no more than 99 people, other than themselves.

The NFIB Education Foundation is the research and education arm of the National Federation of Independent Business, the nation's largest small business advocacy group. The report, Small Business and the Y2K Problem: Part IV, can be obtained from the NFIB Web site: www.nfibonline.com.

-- Brian (imager@home.com), December 06, 1999.

Too warped for my meager mind:

Dennis noted that, "though the number of small firms hoping to ride out the New Year without taking any Y2K-preventive action is disappointingly large, the economic and social impacts of malfunctions originating in these businesses will be disproportionately small." huh? Non-preparing firms tend to be the smallest businesses, and their operations tend to be much less dependent on computers than those who have taken a preventive approach, he observed. "And, unquestionably, some of the non- preparers will luck out," he added. Almost one in six (15 percent) of those who have investigated their situation have discovered their equipment was already Y2K compliant, he noted.

What kind of logic is this? If over 50% of the people in America are employed by SMEs, how on earth can the impact be disproportionately small??

It will be very interesting to see how that smug prediction gets lost over the coming months.

-- TA (sea_spur@yahoo.com), December 06, 1999.

The article stated:

"Based on data from an October survey, the new study concludes that virtually no small employers have launched efforts to bring their computers and other Y2K susceptible equipment into compliance since April. As a result, the foundation now estimates that between 1.25 and 1.5 million small employers will have made no effort to detect and correct any Y2K related glitches in their operating equipment before the New Year. "

[Set Cynic_Mode=ON]

Obviously, the NFIB Education Foundation is quoting outdated information here. I mean, this is December for goodness sakes. While that information may have been accurate at the time it was taken, most of these businesses have really gotten on the ball recently and have been making amazing progress. They are nearly all on track for Y2K-readiness. It's just a shame that NFIB chooses to use scare tatics rather than critical analysis and current data.

Really, if they don't clean up their act pretty soon, people are going to thing they're as crazy as those poor doomers over at the US General Accounting Office.

[Set Cynic_Mode=OFF]

Sorry, couldn't help myself.

-- Arnie Rimmer (Arnie_Rimmer@usa.net), December 06, 1999.

That's only about 30,000 per state....right? Karen

-- Karen (barbinst@wcta.net), December 06, 1999.

Remarkable progress? in 4-8 weeks? You must be kidding!! What's your experience in getting ANY significant project done in that amount of time? Get real!!

-- TA (sea_spur@yahoo.com), December 06, 1999.