New Small Business Data: Uncertainty Weighs Heavily
'We've been hearing from our members for months that they are concerned about the economy, this survey confirms it: the vast majority of small-business owners expect a flat economy or even a recession in the coming year,' stated NSBA President and CEO Todd McCracken. 'When compared with six months or even one year ago, the majority believe that today's economy is worse off, and small-business confidence in the financial future of their business is at its lowest point since July 2009.'
While the small-business overall outlook isn't great, it isn't all doom-and-gloom. As is typically the case with small-business owners, there is an inherent optimism they have in their ability to manage their own business; most report they are already growing or anticipate growth in the coming year.
When it comes to capital, the lifeblood of any small business, there hasn't yet been a marked drop in terms of small-business owners' ability to access loans. That said, 40 percent say they are unable to get the financing the need – which should be a wake-up call given the direct correlation that exists between capital availability and job growth.
Among the key policy imperatives, small-business owners expressed growing concern over the impact of tariffs and placed top priority on policymakers ending partisan gridlock and work together.
'I look forward to working with Congress and the administration to ensure pro-small-business policies are sought out—including tax extenders, eliminating the Corporate Transparency Act and strengthening small-business lending,' stated McCracken.
Please click here to read the full report.
Celebrating more than 85 years in operation, NSBA is a staunchly nonpartisan organization advocating on behalf of America's entrepreneurs. NSBA's 65,000 members represent every state and every industry in the U.S. Please visit www.NSBAadvocate.org or follow us at @NSBAAdvocate.
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SOURCE National Small Business Association
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