Nearly half expecting no change from 2013
A poll conducted by Gallup and Wells Fargo
found that 23 percent of small-business owners are more optimistic about the
future of their businesses going into 2014 than they were at the same time last
year. Roughly half, 49 percent, felt neither more nor less optimistic, and 28
percent were less optimistic. While slightly more small-business owners are
optimistic about 2014 compared to the results going into 2012 (when the figure
was 21 percent), the picture remains mixed.
Views On Operating Environment Also Mixed:
Small-business owners’ views of the operating
environment for their business show a similar pattern, with roughly a quarter
(23 percent) expecting it to improve this year, a quarter (25 percent)
anticipating it will worsen, and about half (51 percent) projecting it will
stay the same.
Economy, Government Burdens Among Challenges
Facing Small Business:
Gallup asked small-business owners the “most important challenge” they face. The most
frequently mentioned “external challenge” was the economy at 12%, followed
closely by Obamacare and the government in general. Coming next were government
regulation and taxes, with 7% of business owners naming each as challenges.
Among business-specific challenges, business owners said that acquiring new
customers and business (13%), concerns with cash flow, costs and fees, staffing
issues, competition, and credit availability were at the top of their list of
concerns.
Further Reading:
For Gallup’s
summary of the poll, see here
The Washington
Post “On
Small Business” blog said a “bright spot” in the report is that “only four percent”
of those polled said that credit availability “is currently the biggest hurdle
for their business.”
This news article is intended to keep small business
owners apprised of current events that may affect them. It does not necessarily
reflect NFIB’s policy position on such issues.
