Survey: Optimism slips among small business owners

The Associated Press//October 16, 2017//

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Small business owners have lost some of their upbeat view of the economy and their companies, according to a survey by the National Federation of Independent Business.

The small business advocacy group, which surveys its members monthly, found that in September, the number of owners who expected their sales to increase in the coming months fell 12 percentage points, and the number who believe this is a good time to expand their companies dropped 10 points.

NFIB Chief Economist Bill Dunkelberg said the slide in optimism wasn’t related to the physical and economic damage caused by Hurricanes Harvey and Irma.

“The drop-off was consistent around the country regardless of region,” Dunkelberg said in a statement. He said owners are less ebullient as they wait for changes in taxes and health care to come from Washington.

The survey also showed owners are scaling back their plans to make big purchases — the number expecting to make big capital investments fell 5 percentage points.

Dunkelberg noted that the NFIB’s Index of Small Business Optimism fell sharply to 103 from 105.3 in August, but still is high by historical standards.

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