NATIONAL SURVEY MIRRORS SMALL BUSINESS OWNER SENTIMENT IN IOWA
DES MOINES (November 10, 2015) – The NFIB Index of Small Business Optimism
was unchanged in October, posting no change after a rise of only 0.2 points in
September and a gain of only 0.5 in August.
“If we do not begin to see a resurgence of growth in our
state we will no doubt slip back into a recession. The October NFIB survey
remains below the 42 year average of 98 and the small business community is
ready to hear from the plethora of Presidential candidates stampeding through
Iowa about how they plan on turning that around, “according to NFIB Iowa State
Director, Kristin Failor. “Instead of investing in capital or expanding
existing businesses, small business owners are crippled by fear of the unknown
and we’ve yet to hear any definitive solution to creating growth.”
According to NFIB Chief Economist William Dunkelberg, “Three
of the ten Indices fell during the month of October while five posted slight
gains and two were unchanged. All of the components added up to a change
of 0 percentage points. The reading of 96.1 is consistent with the
predicted economic growth of between 2 percent and 2.5 percent. Inflation
received no support on Main Street, with a net 2 percent of owners raising
their selling prices for the second month in a row. Owners continued
reporting that their labor compensation prices were expanding rapidly, which
puts pressure on profits and depresses discretionary spending plans.
Investments in equipment or expansion that does not produce additional profits
remain unattractive to small business owners.”
“Thanks to President Obama’s crippling policies, many that
were introduced via executive order without even the consent of Congress, small
business is economically stagnant. Between the rising costs of healthcare and
crippling climate policies, the flood of capital-devouring regulations is
crippling” Continued Failor, “Adding insult to injury, we have heard little
conversation at the debates about how the 2016 Presidential hopefuls will help
small business owners should they be elected. This is certainly adding to
the uncertainty and unhappiness surrounding economic policy. Our members
will be looking forward to the FOX Business debate and will be listening
closely.”
The October survey was based on a random sample of 1411 NFIB
members.
