Once a week, we’ll deliver a roundup of small business news and advice from around the nation.
Small Business Optimism Deflates
Polling can make any group seem finicky, and small businesses are no exception. Back in February small businesses professed a sort of grudging optimism about the economy, but National Federation of International Business research finds the good feelings are waning. The “optimism index” in the NFIB fell from a recession high of 94.5 in February to 91.9 in March, with experts expecting that number to rise and coming away disappointed.
Why? It’s a simple equation. Less profits plus rising food and fuel prices equal wary consumers, which feeds back into that cycle. Some 24 percent of businesses surveyed are countering that by raising prices, according to the NFIB.
Let’s hope a spring and summer surge lifts that optimism index back up.
The World Of Small Business Stats
If you’re like me, you love statistics. My obsession with baseball has transferred over to business, so I’d be remiss if I didn’t share these interesting statistics from the Small Business Administration with you.
Some of the most interesting stats for small businesses for those who work in the field:
- Represent 99.7 percent of all employer firms.
- Have generated 64 percent of net new jobs over the past 15 years.
- Made up 97.3 percent of all identified exporters and produced 30.2 percent of the known export value in FY 2007.
There’s more in the article linked above, so be sure to check it out. Reports like this give a ton of ammunition to those who emphasize the importance of small business in the ongoing economic recovery.
Taking The Awe Out Of Lawyers
Per Small Business Trends, we have some good advice for helping small businesses get through the sometimes confusing world of attorney fees. If you’ve got a little time to listen to the podcast linked above, you’ll get a better sense of what an attorney will cost you and why they will cost you that number. It’s a recommended way to spend 35 minutes today.
Check Out Our Small Business Poll
For those of you reading, I wanted to note that we have a featured poll at the front end of the site dealing with your preferred social media platform. I encourage you all to vote, as we’d like to break down the poll results at a later date. Thank you!
Got news for us to use in future editions? Let us know!