Small biz outlook: All doom and gloom?

August 3, 2011
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Wall Street hasn’t exactly been a font of optimism lately, and now Main Street is sharing in the economic gloom.

The National Small Business Association’s 2011 Mid-Year Economic Report, released Wednesday, shows that small-business owners are losing confidence in an economic recovery.

The Washington, D.C.-based advocacy group conducted an online survey of 400 members in late June and early July. It also produces a year-end report each December.

Nearly half of the small-business owners who responded said economic conditions are worse now than they were six months ago, and almost as many don’t expect their ventures to grow in the next year.

An overwhelming 88 percent of small-business owners surveyed think the economy will stall or fall back into recession in the coming year—the most pessimistic they’ve been since July 2009, during the throes of the economic meltdown.

Two-thirds of respondents cited economic uncertainty as the most significant challenge to their businesses. Other potential pitfalls: a decline in consumer spending, health insurance costs, regulatory burdens and the national debt.

Despite the preponderance of gloom and doom, 64 percent of owners nevertheless are confident about the future of their businesses.
So what do you think: Are NSBA members being pessimistic or realistic? How do you expect your business to fare in the current economic environment?

  • Not surprising
    As long as the government is hell bent on punishing the achievers in society, I don't see the negative outlook changing anytime soon.

  • This is Change?
    Doesn't surprise me. Obama is creating a society that looks down on the successful and wealthy population.

    Sad thing is Obama isn't the problem, its the delusional people that elected him that are the problem
  • Blame Obama?
    That's right Ads, just blame President Obama and the majority that elected him because that's the cheap and easy thing to do. This mess was not created since January 2009, and in fact my business has grown since Obama took office. The economic problems our country is facing are so much larger than any single presidency, but that is part of the problem, short-sighted people want point the finger and blame someone. Obama did not get us in the mess, and I don't believe he can single-handedly pull us out either.

    Americans need to make some tough decisions and find new ways to create revenue and cash flows just like any business would need to do. Any business person should know that you can not only slash spending/costs and expect prosperity, but that's exactly what the newest budget tries to do. Moreover it takes money away from the those who need it most.

    So I think its people like you, Ads, who are the problem. Put whatever misguided political beliefs you have aside, look at the big picture and realize that we need to create a new long term business model for this country that is real and sustainable because what we have now is neither.

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