Small businesses are less optimistic about the future, a newly released survey shows. The National Federation of Independent Businesses released survey results showing their small business optimism index decreased in March, marking the 15th consecutive month below the 49-year average of 98.
“Small business owners are cynical about future economic conditions,” NFIB Chief Economist Bill Dunkelberg said. “Hiring plans fell to their lowest level since May 2020, but strong consumer spending has kept Main Street alive and supported strong labor demand.”
The survey results found other troubling economic indicators.
A net negative 6% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, the group revealed. The net percent of owners expecting higher real sales volumes deteriorated six points to a net negative 15%.
“Main Street cannot afford these new tax increases,” NFIB President Brad Close said. “As expectations for better business conditions remain low, while high inflation and worker shortages continue to plague Main Street, these proposals would hurt small businesses’ ability to recover, grow and create jobs.”
