Small Business Report: Credit crunch pinches more small businesses, forcing some layoffs

Small percentage of small firms say credit crunch forces layoffs: Survey By Andrea Coombes, MarketWatch SAN FRANCISCO (MarketWatch) -- Almost two-thirds of small-business owners said in October that the credit crunch is affecting their ability to do business, and a small portion of those said they'd been forced to lay off workers as a result, according to a survey by American Express. Of the 63% who said their firm "has been affected by the tightening of credit in the economy" -- up from 50% in August -- 12% of small-firm owners said they've been forced to lay off workers, 7% have been unable to make payroll, and 4% couldn't fill customer orders. Also, of those 63% who've been hit by the credit crunch, 79% said sales are decreasing, 51% said they've tapped personal assets to pay business expenses, 40% are unable to pay bills... [read full story]                    

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