SMALL BUSINESS OPTIMISM PLATEAUS AS UNCERTAINTY IN HARTFORD LOOMS

Date: August 09, 2016

Related Content: News State Connecticut Economy

SMALL BUSINESS OPTIMISM PLATEAUS AS UNCERTAINTY IN HARTFORD LOOMS

SMALL BUSINESS OPTIMISM PLATEAUS AS UNCERTAINTY IN
HARTFORD LOOMS

HARTFORD (August 9, 2016) – The Index of Small Business
Optimism rose one-tenth of a point in July to 94.6, a meager increase showing
no real enthusiasm for expansion, expected sales, and making capital outlays,
according to the National Federation of Independent Business (NFIB).

“This month’s survey clearly shows that small business owners
have gone into maintenance mode, which is an unfortunate side effect of
economic uncertainty. Here at home, we are all too familiar with the
difficulties that the small business sector has with planning for the future,”
according to NFIB Connecticut state director, Andrew Markowski. “How do you
plan to expand your business or hire more people when Hartford lawmakers cannot
even agree on how large the state’s deficit is?”

At 94.6, the Index remains well below the 42-year average of
98. Four of the 10 Index components posted a gain, four declined, and two were
unchanged. The outlook for business conditions in the next six months continued
to improve, gaining 16 percentage points since January, but still more owners
still expect conditions to be worse than expect improvement.

“With political climate continuing to be the second most
frequently cited reason for why owners think the current period is a bad time
to expand, the onus is on our elected officials to send a clear message to
Connecticut businesses that it is safe to invest in our state,” continued
Markowski. “Out of the last 91 months, small business optimism has been absent
for 89 of them. It’s incumbent upon our leaders in Hartford to give the small
business community something to look forward to.”

NFIB’s monthly Small Business Economic Trends survey is based
on a monthly survey of small businesses. The survey was conducted in July and
reflects the response of 1,703 small businesses.

Related Content: News | State | Connecticut | Economy

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