Small businesses were less optimistic about their economic prospects in September than in August, according to the optimism index measured by the National Federation of Independent Business (NFIB).
The index fell from to 95.3 in September from 96.1 in August.
This brought their outlook to 5 points below the pre-recession average.
“Small businesses just can’t seem to get out of second gear,” the NFIB’s chief economist reported on their website.
On the businesses’ sales reports and projections, the NFIB commented, “Overall, these readings are more like a recession period than one of expansion. “
22 percent of the business owners said that regulations and red tape were their top business problem, while another 21 percent cited taxes. Just 14 percent named poor sales, and 2 percent financing.
Among the regulations hurting small businesses are the new costs piled onto business owners by Obamacare.
Rick Harrison of “Pawn Stars” recently told Fox News, “It’s really difficult to do business sometimes. Just for my little pawn shop, the insurance for my employees went from $19,000 a month to $30,000.”
h/t The Hill
