Posted on 06/15/2011 9:40:53 AM PDT by Hojczyk
Small business owners have a grim outlook on the economy, with a gathering number planning to reduce jobs over the next three months, according to survey results from an industry group.
The percentage of independent businesses planning to increase employment in the next three months fell to 13% in May, compared to 16% in April and 18% in March, according to the National Federation of Independent Business.
At the same time, the percentage of small businesses planning to reduce their work force has increased to 8% in May, compared to 6% in the month before, the group said.
The group said that, on a seasonally adjusted basis, the businesses see a small net decline in employment.
The survey's index of small business optimism slipped 0.3 point in May to 90.9, the third consecutive monthly decline.
The chief culprit appears to be weak sales. Some 23% of small business owners reported that sales were higher in the last three months, but 36% said that sales were lower, according to the survey.
"Corporate profits may be at a record high, but businesses on Main Street are still scraping by," wrote NFIB chief economist Bill Dunkelberg in the report. "The failure to understand why small business owners are not hiring or investing has resulted in a set of policies that have not been very effective, and Main Street is suffering."
Earlier this month, on June 6, the U.S. Labor Department reported that the unemployment rate ticked up slightly in May to 9.1%, compared to 9% the prior month.
The economy gained 54,000 jobs in May, but that's compared to a gain of 232,000 the month before, indicating that job growth is slowing.
(Excerpt) Read more at finance.yahoo.com ...
Bob Beckel has accused them of participating in an anti-Obama conspiracy
We’ve closed our small business effective this month. Haven’t had an employee since fall of 2008 except ourselves.
Between State and Federal taxes, various insurance requirements, bonds, license requirements, and a slew of other regulations it just wasn’t worth it.
This economy is dead, trust me! Nobody still in business is hiring because of uncertainty. Only the big boys survive this kind of recession. We held on as long as we could.
You know- I’m sorry. I don’t think anyone who hasn’t lived a small business himself could really know the height and the depth of what you went through. I do, because I have. I hope things look up for you soon.
BINGO
The best way I can describe it is it’s like losing a beloved pet that has been sick for long while. I am in mourning but at the same time relieved. We had high hopes but the numbers were just not there anymore.
We were Blessed with a huge job offer with a worldwide company. Yes, big evil non-union corporations hire 10’s of thousands of Americans!
Unfortunately for other small business owners this can be devastating!
Sorry for your loss too and a sincere thank you for your post.
Wow...wonder who used the “Weed B Gon” on the green “shoots”? Maybe that idiot Golfer and world famous jet-setter?
But, but, right above this is a post from the St Pete propaganda sheet that says all is well....LOL
“Unexpected”?
Our family has owned a business for almost 40 years. I started paying the bills for the business about 7 years ago and I was alarmed to learn the cost to run a business.
OUR SMALL BUSINESSES PAYS:
FEDERAL INCOME TAX
STATE INCOME TAX
FEDERAL UNEMPLOYMENT TAX
STATE UNEMPLOYMENT TAX
7% SOCIAL SECURITY TAX FOR EMPLOYEES
(this is in addition to the 7% the employee gives the government)
PROPERTY TAX
PERSONAL PROPERTY TAX
UTILITY TAXES ON GAS, ELECTRIC, AND PHONE
GASOLINE TAX
SALES TAX TO THE STATE FOR EVERYTHING WE SELL
APROXIMATELY 7% SALES TAX ON EVERYTHING WE BUY
PLUS WE PAY
MEDICAL INSURANCE
AUTO INSURANCE
PROPERTY INSURANCE
LIABILITY INSURANCE
WORKMAN’S COMP
VARIOUS LICENSES AND PERMITS
I’m sure I’ve forgotten a few things.
THE GOVERNMENT GETS MORE OF OUR MONEY THAN WE DO!
It’s easy to see why some businesses hire undocumented workers to avoid the tax burden. Or worse yet they just pull up stakes and move out of the country.
And now obamacare will tax us more? Our government’s over taxation and interference has caused small businesses to be reluctant to hire more employees. Under the Obama regime we’ll see businesses leaving the country droves. It is no wonder that our country’s economy is on a downward spiral.
I don’t just blame Obama. It’s our members of Congress who have allowed this to happen.
We narrowly escaped having to go under in 2010, so we are still in business, which is sort of a miracle in itself. Good luck in your new adventure.
Glad to hear you’re still going on. Best of luck to you too.
Scared government employees spend less on vacation services, but it’s all debt anyway. Next thing you know, even they will avoid dollar risk to latch on to gold, oil and food for safety.
And we all know how big Bob is never wrong about anything./s
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