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The confidence of small business owners dropped drastically in March, falling from 94.5 in February to 91.9 in March, according to the most recent National Federation of Independent Business Index of Small Business Optimism. This figure marks the lowest level in five months and a significant level of pessimism among the sector.
"Perhaps, this is a 'new normal' and we are unlikely to see the surges usually experienced at the start of a recovery," said NFIB chief economist Bill Dunkelberg.
"Times are different; government, with new taxes and more restrictions, is a larger drag on the small-business community," he added.
Dunkelberg went on to explain that small business owners continue to be uncertain about the future and the government ignores the needs of entrepreneurs and small business owners. He chocked the report up to "a real disappointment."
Although a drop in confidence is not a positive indication of improving conditions, many entrepreneurs are still keeping their spirits high. Regions such as Austin, Seattle, Charlotte and Charleston have promoted entrepreneurial activity. In fact, Austin took the lead in the most recent On Numbers rankings, which evaluate the best cities for small businesses, expanding its job base by 9.3 percent between 2005 and 2010 and rising above all other job markets with 1.5 percent growth among small firms, according to The Business Journals.
This article is brought to you by Vcorp Services – Vcorp offers executives, attorneys, accountants, and entrepreneurs an extensive suite of services including entity formations, state filings, document retrieval, tax-exempt filings, UCC filings and searches, 501c3 filings and more. www.vcorpservices.com
"Perhaps, this is a 'new normal' and we are unlikely to see the surges usually experienced at the start of a recovery," said NFIB chief economist Bill Dunkelberg.
"Times are different; government, with new taxes and more restrictions, is a larger drag on the small-business community," he added.
Dunkelberg went on to explain that small business owners continue to be uncertain about the future and the government ignores the needs of entrepreneurs and small business owners. He chocked the report up to "a real disappointment."
Although a drop in confidence is not a positive indication of improving conditions, many entrepreneurs are still keeping their spirits high. Regions such as Austin, Seattle, Charlotte and Charleston have promoted entrepreneurial activity. In fact, Austin took the lead in the most recent On Numbers rankings, which evaluate the best cities for small businesses, expanding its job base by 9.3 percent between 2005 and 2010 and rising above all other job markets with 1.5 percent growth among small firms, according to The Business Journals.
This article is brought to you by Vcorp Services – Vcorp offers executives, attorneys, accountants, and entrepreneurs an extensive suite of services including entity formations, state filings, document retrieval, tax-exempt filings, UCC filings and searches, 501c3 filings and more. www.vcorpservices.com
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