NFIB SMALL BUSINESS OPTIMISM INDEX WEAKENED; FELL WELL BELOW THE LONG TERM AVERAGE
MONTPELIER (April 14, 2015) – The National Federation of
Independent Business (NFIB) Small Business Optimism Survey for March fell 2.8
points to 95.2, the lowest reading since June of last year.
“Today’s findings show nationally what we continue to see in
Vermont. Small business owners are less than enthusiastic when it comes to
making the decision to expand their businesses,” said Shawn Shouldice who
serves as the NFIB Vermont State Director. “Entrepreneurs have their eye
on taxes and regulations and that distracts them from hiring new employees and
improving their infrastructure.”
Although the first quarter of 2015 had solid job creation
numbers, plans suggest a weaker job market for the second quarter of the year.
Consumer spending, due to the weather, also decreased and saving rates have
increased from a lack of optimism in the economy.
The Optimism Index features 10 components. Last month
all 10 components fell, contributing to the 31 point decline in net positive
responses. This was a rare occurrence.
“Until the small business community is satisfied with a
strengthening economy and a reduction in government regulation, our fiscal
state will continue to improve at a slow rate,” Shouldice continued. “It
is incumbent upon lawmakers in Vermont to incentivize our community by staying
out of the day to day operations of small, private, businesses.”
