A majority of small business owners are of the opinion that there is too much economic uncertainty for their company to expand, grow or hire new workers.
Nearly Two-Thirds of Small Business Owners Say there is Too Much Economic Uncertainty to Expand
When a recent survey from the NFIB and NAM asked small business owners for their opinions about the state of the economy and how that will impact their plans to expand, grow or hire new workers, 64% agreed with the statement that “there is too much economic uncertainty in the market today for my company to expand, grow or hire new workers.” Only 35% agreed with the statement that “my company is now operating from the standpoint that there is enough economic opportunity in the market today to expand, grow or hire new workers." One percent did not know.
Is Now the Right Time to Start a Business?
Small business owners are almost evenly split when posed the question of whether they would start a business today given what they know and the current economic climate. A slight edge goes to those small business owners who say they would not start a business today, with 51% saying “No” and 49% saying “Yes”.
Source: NFIB and NAM Survey of Small Business Owners, Manufacturers, and Owners or C-Level Decision Makers