Roughly 24 million small businesses exist in the U.S. Worried two percent of respondents as the biggest problem, about where its Insurance costs/availability concerned a low ten percent of respondents.įinancial & interest rate problems worried two percent of respondents. Poor sales eased to eight percent of firms as the biggest problem.Ĭompetition from large businesses rose to ten percent as the biggest problem. A steady eight percent of firms reported theĬost of labor as the most significant problem, down from February's increased Government requirements were worrisome to a lessened 12% of respondents, below Taxes were the largest problem, down from a December 2014 high of 27%. A sharply increased 25% reported problems with the The small business survey inquires about additional issuesįacing small business. Reported trouble obtaining financing, roughly equaling the percentage of the Surged m/m to 24% m/m, up from 18% three months earlier.Ĭredit remained easy to get. The percentage of firms that were planning to raise compensation Steady 34% of firms were raising worker pay. Pressure to raise worker compensation stabilized m/m as a That were finding few or no qualified candidates for job openings rose m/m to Nevertheless, that remained below the record 26% in August. Of respondents planning to increase employment was the most this year. Labor market readings showed modest m/m improvement. A netġ0% of firms were raising average selling prices, still below the 19% high last It continued to slipīelow November's ten-year high of 29%. A strengthened 30% of firmsĮxpected to make capital outlays, above the December low of 25%, but below theĮxpected pricing power continued to deteriorate last month asĪ lessened 20% of firms were planning to raise prices. Remained down from a high of 48% in January 2017. The percentageĮxpecting higher real sales rose to 23%, its highest percentage since December.Īn improved 16% of respondents expected the economy to improve, but that Time to expand the business, up from a 20% low in January. Index gained 1.4% m/m, but was down 2.6% y/y.Ī sharply higher 30% of firms thought that now was a good It was the highest reading since October. Reported that its Small Business Optimism Index increased to 105.0 during May, The National Federation of Independent Business (NFIB) Small Business Optimism Strengthens Significantly 190612A.html Small Business Optimism Strengthens Significantly. The IoD survey chimes with responses to a quarterly survey by the British Chamber of Commerce (BCC) last month.Ĭontinuing a more buoyant trend since the Truss/Kwarteng budget debacle last September, the BCC found that more than half of UK firms (52%) said their business turnover was likely to increase over the next 12 months, up from 44% in the last three months of 2022.īusiness optimism can expect to come under pressure should the world’s leading central banks embark on a further increase in interest rates over the next fortnight, as expected.File://N:\winnie\Commentory_HTML_2_decimal points.xlsm The proportion of directors who were either “quite optimistic” or “quite pessimistic” about the wider economy was almost identical at just under 31%. While the improving survey data offers hope that UK economic growth may no longer be flatlining, Ussher acknowledged that concern about high inflation persists, with only a quarter of members believing it has peaked. “It is particularly reassuring to see a recovery in investment intentions, raising the hope that the economic fundamentals can continue to improve in the months ahead,” said Kitty Ussher, the IoD’s chief economist and former City minister under Labour.
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