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Small Businesses Are Getting Significantly Worse!
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Small Business Confidence Plummets
Small business owners' confidence in the economy soured significantly from July to August in the largest one-month decline since November 2009, according to the Discover Small Business Watch. Business owners expressed a negative outlook for the economy in general and skepticism that economic conditions would get better for their businesses in the next six months. The Watch index dropped to 73.0 in August from 83.0 in July. August marks the third straight monthly decline in the index, which is the lowest it has been in 18 months on the 4-year-old index.
August Indicators:
-62 percent of small business owners rate the current state of the U.S. economy as poor, up from 58 percent, in July; while 28 percent it fair; 6 percent rate it good; and 3 percent rate it excellent.
-55 percent of small business owners expect economic conditions for their businesses to get worse in the next six months, while 20 percent expect them to stay the same, and 21 percent think things will get better.
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