Unlike most others, small business owners aren’t looking forward to what the New Year will bring. According to a recent survey from the National Federation of Independent Businesses (NFIB), the Small Business Optimism Index dropped severely in November.
Hurricane Sandy and the re-election of President Obama were the two big factors that went in to the drop, and the results show that the election had a far greater impact than Sandy even with the widespread damage hurting the economy. Small business owners expect worse conditions in the coming year than they have now because, according to NFIB chief economist Bill Dunkelberg, “Washington does not have the needs of small businesses in mind.” This refers to rising health care costs, new regulations, and the looming fiscal cliff worrying business owners.
Small businesses often get the brunt of problems in a down economy- and unfortunately business owners are not confident about the ways in which the government is trying to revive it.
For the full article, see Small Business Optimism Collapses After ‘Something Bad Happened In November’