A new survey by the National Federation of Independent Business indicates expectations for higher sales among small business owners decreased in January. State Director Dawn McVea says owners are frustrated with stagnant economic conditions starting the New Year.
“Profits are in the tank and that means its really hard for small business owners keep their doors open and keep folks employed.”
Optimism fell by two points in January to 89.9, marking the 25th consecutive month below the 50-year average of 98.
Among owners reporting lower profits, McVea says 32 percent of owners blamed weaker sales. She says owners continue to adjust to ongoing economic challenges.
“Inflation remains the single most important problem in operating their business. It just hasn’t relented and its not giving them any real relief as far as the everyday cost of goods and services to run their business.”
McVea says the national survey also found that 39 percent of owners reported job openings that were hard to fill have had a significant impact on their business. She says it’s a battle for survival.
“Small business owners rely on human capital. They rely on people who can come in – show up to work, help customers and that continues to be a challenge for them.”
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