Business Editors

    STAMFORD, Conn.--(BUSINESS WIRE)--Sept. 24, 1999--

    Comprehensive Study from Pitney Bowes Provides Insight
    on the State of Mind of Small Business Owners in the Midwest

    Small business is fueling the fire of the Midwest economy and the future is looking bright in the eyes of these business owners as they enter the Millennium. In a comprehensive study conducted by Pitney Bowes Inc. (NYSE: PBI) in conjunction with Yankelovich Partners, 76 percent of Midwestern small business owners polled believe that their business has great potential. The study, which takes a state-of-the-industry look at small businesses in the Midwest, also showed that while business owners in America's heartland were highly optimistic about their own success, they were less optimistic about the nation's business outlook as it moves into a new era (only 35 percent felt positively about the future of business in the U.S.).

The majority of small business owners also said they truly enjoy their work (79 percent) and never want to work for someone else after running their own business (70 percent).

"Small businesses are the engine of the nation's economy and it is crucial to understand how these business owners think. Their optimism translates into the future prosperity of the country as a whole," says Elise DeBois, President of Pitney Bowes Small Business Solutions group. "While all small businesses have issues of concern, these indicators show a strong business owner spirit and will to succeed, which will drive us all forward into the future."

The study provided interesting insight into what keeps small business owners awake at night. Topping the list of business worries were: retaining customers (67 percent); attracting customers (64 percent); and quality of your product or service (66 percent). These issues beat out collecting payments (49 percent); competition (48 percent); and keeping up with technology (48 percent).

Who are small business owners in the Midwest?

According to the study, the majority of small business owners in the Midwest are 40 years of age or older (65 percent), are sole owners of their businesses (63 percent); and work outside the home (87 percent).

Approximately 33 percent of small business owners have 2-3 employees; 42 percent have 4-9 employees; and 26 percent have 10-24 employees.

Some 31 percent of small business owners work in business services; 25 percent work in retail; 15 percent in manufacturing; 10 percent in finance, insurance and real estate; 10 percent work in wholesale trade; and 7 percent in transportation, communication utilities.

Study findings were based on 12 states that define the Midwest according to the U.S. Census Bureau. These states include: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.

Pitney Bowes Inc. is a $4.2 billion global provider of informed mail and messaging management. For more information about Pitney Bowes' full range of services and products, please visit http://www.pitneybowes.com or call 1-800-640-7058.

     --30--lp/ny*

     CONTACT: Pitney Bowes Inc.
              Beth Ghiloni, 203/326-6148
              ghilonel@pb.com
              or
              Brodeur Porter Novelli
              Karen King, 203/399-3303
              kking@brodeur.com

     KEYWORD: CONNECTICUT
     INDUSTRY KEYWORD: INTERACTIVE/MULTIMEDIA/INTERNET COMED
PUBLISHING