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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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.