Raddon Study Shows How Small Businesses Are Responding to Economic Conditions
New Research Provides Trends and Behaviors of the Small Business Market

LOMBARD, Ill.--(BUSINESS WIRE)--Raddon Financial Group (RFG), a provider of research-based solutions to financial institutions and a strategic business unit of Open Solutions Inc.®, recently formed a small business research consortium to provide an in-depth analysis of how small businesses perceive financial institutions and use financial products and services.

The research program is comprised of a semi-annual nationwide survey of small businesses. Among the findings from RFG’s latest survey, fielded in March of 2009, include actions small businesses are taking to cope with the current economic environment. In 2009, 30 percent of small businesses with annual sales of $500 thousand to $10 million plan to lay-off employees. Fifty-two percent will freeze pay and 41 percent plan to eliminate bonuses in 2009. Small business cost-cutting measures extend to health insurance benefits and 401(k) matches as well. Additionally, nine percent of small businesses expect to reduce operating expenses by closing or consolidating facilities.

Although many small businesses are cutting costs to cope with the current economic environment, 18 percent feel that their annual sales will increase in 2009, while 37 percent expect flat sales comparing 2008 to 2009. However, close to half (45 percent) expect a decrease in sales in 2009.

Financial institutions have a consistent need for reliable and timely small business market intelligence. RFG developed this new research to fill this need and help participating institutions increase their small business relationships, evaluate competitive strategies, identify new product ideas and develop a segmentation approach to acquire and retain customers.

RFG will present results from the latest study at regional workshops throughout the country this month. Organizations can join the research consortium and stay abreast of changes in the small business market on a semi-annual basis. Visit www.raddon.com/SBNR or call 800-827-3500 for more details.

About RFG
RFG, a strategic business unit of Open Solutions Inc., has been providing research-based solutions exclusively to the financial services industry since 1983. RFG understands the industry and knows how consumers and businesses interact with financial institutions. By combining our practical know-how with best practices in research and analysis, RFG helps financial institutions manage their customer relationships and their organizations.

For more information about Raddon Financial Group, contact Dan McGowan by email at dmcgowan@raddon.com or by phone at 800-827-3500. Visit Raddon Financial Group online at www.raddon.com.

About Open Solutions Inc.
Open Solutions Inc. offers a fully-featured strategic information management product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, technology services, HSAs, payments and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.

For more information about Open Solutions or its financial product line, contact Deborah Katz, VP, Corporate Marketing, by email at deb.katz@opensolutions.com or by phone at 860-815-5385. Visit Open Solutions’ Internet site at www.opensolutions.com.

Open Solutions Inc. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2009 Open Solutions Inc. All rights reserved.

Editor’s Note: The correct usage of the company name, Open Solutions Inc., is either referring to it as Open Solutions Inc. or Open Solutions. Open Solutions no longer uses the acronym of OSI to refer to the company.

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Copyright ©2009 Open Solutions Inc. All rights reserved. Raddon Financial Group is a business unit of Open Solutions Inc.