The Study:
The Small Business Research Board shows small business owners have lower expectations in the three areas that make up the confidence index for the upcoming year. These areas are hiring, revenue, and economic improvement.
More than 950 businesses in the U.S. participated in the nationwide poll.
The Results:
- Only 24% plan on hiring in the next year, which is a 15 % decrease from the third quarter.
- 48% of businesses expect revenue increases in the fourth quarter, which is down 5% from the third quarter.
- 29 % believe the economy will improve, and it was 37 % in the third quarter.
Western states optimistic about the economy, but the Midwesterners are the pessimistic.
“The fourth quarter report is not a good sign, given that small businesses together employ the majority of workers in the U.S,” said Gregg Steinberg, the President of International Profit Associates.
Catch all the details in the SmallBusinessNewz video.
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