While all the news about what is going wrong in business today and for small business owners in particular certainly has merit, the National Small Business Association’s (NSBA) mid-year report for 2013, which was released on Tuesday of this week, should give many of us a reason to be somewhat optimistic.
Compared to five years ago, according to the survey’s findings, 40% of small business owners agree with the statement that today’s economy is better off, and that’s the highest that percentage has been in five years. Additionally, the number of small firms predicting a flat or recessionary economy in the coming 12 months is at its lowest point in five years, which is also good news.
Unfortunately, the confidence small business owners feel about the overall economy does not seem to be translating to their own businesses in many cases, at least not yet, and that's largely because there is still such a great deal of uncertainty surrounding issues such as obtaining funding, taxes, regulatory measures and healthcare reform. Much of the overall confusion, according to those respondents who were the most frustrated, stems from the inability of policymakers to work together. In fact, they cited partisan gridlock as their number one issue of concern when it comes to public policy.
To read the NSBA’s full 2013 Mid-Year Economic Report, which covers everything from small business confidence and overall business/job growth to financing and public policy concerns, click here now!