Small Business Outlook

The U.S. Chamber of Commerce released its quarterly Small Business Outlook Survey on Monday with some pretty grim results. The survey of more than 1,400 small-business owners revealed that:







  • An overwhelming 84 percent believed the U.S. economy is on the wrong track.
  • Nearly 50 percent of the small-business owners cited economic uncertainty as their greatest challenge 
  • The U.S. debt and deficit and health-care reform were close behind, at 47 percent and 39 percent, respectively.
  • Forty-six percent of respondents said their uncertainty for the future is driven by the federal debt and deficit.
  • As far as the economy, 79 percent of respondents just want Washington to “get out of the way”. 
  • 85 percent said they’d rather Washington provide more certainty than more assistance.
  • Fifty-five percent of respondents cited economic uncertainty as the greatest or second greatest issue that will stop them from hiring new employees. 
  • 34 percent said a lack of sales would stall hiring efforts.
  • As unemployment hit 9.2 percent in June, the small-business jobs outlook doesn’t seem to improve much over the next year. 
  • 64 percent saying they will keep the same number of employees. One bright spot: Only 12 percent plan on cutting staff, down from 29 percent last year.
  • With just 20 percent of respondents optimistic that American’s best days are ahead, small-business owners will continue to operate cautiously 
  • 62 percent more fearful of what Washington will do next than what they’ve already done.

View the entire summary of the small business report.

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