Survey: Small Business Owners’ Optimism Is Declining
NFIB.com
A new survey of small business owners says their optimism about the economy’s future is starting to erode. According to a small business leader in Georgia, a major concern is the Affordable Care Act.A broadcast version of this story
The report from the National Federation of Independent Business (NFIB) says its index for optimism dropped about two and a half points in October after a couple of months of small gains.
Only six percent of the business owners surveyed said they think now is a good time to expand operations. Kyle Jackson, NFIB’s Georgia representative, says they’re anxious about what the government is doing with one item in particular.
“I’ve had people tell me very candidly they’re not going to make any more hires until they know definitively what’s going to happen with the healthcare law,” said Jackson.
Georgia Tech economics professor Danny Boston says the survey is a strong indicator of the future of the overall economy.
“Small business owners are people who are really kind of out there at front line in terms of assessing the market, trying to put in place plans to deal with changes in the market and also being attuned to changes in market dynamics,” said Boston.
“So if something is going to happen in the economy, they’re going to know it first.”
The report sampled 1,940 NFIB member business owners nationwide.
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