Study shows decrease in small business owner optimism, correlates with increased risk of recession.
In its most recent Index of Small Business Optimism survey update, the National Federation of Independent Businesses revealed that the overall optimism of small business owners is low and falling as conditions for a recession begin to manifest.
The two SBO perspectives having the to most effect on the decline are
- weakening of expectations for business conditions, marked by increased consumer and employee protections
- lower expected real sales volumes.
In addition, political races dubbed “cartoonish” and rumors of negative interest rates have left a large portion of small businesses owners
Other metrics of note:
- actual business spending remains consistent
- hiring activity remains consistent though long-term plans to increase hiring to support business growth have declined slightly
And based on recent discussions within various industry groups and associations, many cleaning business owners will find it no surprise that “hard-to-fill job openings rose to expansion-high levels” due to a tighter labor market and a low unemployment rate.
Download the full report here.
