The prospect of consumers spending less troubles Greg Jones. The owner of three Five Guys Burgers and Fries franchises in Florida is concerned that customers who might normally stop in three times a week will cut that back to once. Restaurants like his lost business to cheaper options like McDonald's during the recession. He's worried that will happen again. Jones wants to open two more Five Guys locations, but says he might not be able to if the country goes over the cliff. If his existing restaurants aren't profitable enough, he won't get the money he needs to expand.The consequences that Jones faces are a big part of why Georgia Institute of Technology professor Thomas Boston says he thinks the fiscal cliff could do enough damage to small businesses to halt the economic recovery.
Small Businesses Already Slipping Off The 'cliff'
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.