Small business owners are doing OK – but will that help Trump overcome his low approval ratings?
Source: The Guardian ·
Overall, economic sentiment for Trump is poor, but small businesses seem fairly confident, according to several surveysThere are 34m small businesses in the United States. They employ approximately half of the country’s workers and generate about half of the country’s GDP. They’re an important voting block. So how are they feeling about the economy as we head into November’s midterm elections?…
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There are 34m small businesses in the United States. They employ approximately half of the country’s workers and generate about half of the country’s GDP. They’re an important voting block. So how are they feeling about the economy as we head into November’s midterm elections? Overall, economic sentiment for Donald Trump is poor but small business – admittedly a diverse demographic that’s hard to poll – seems fairly confident. A number of recently published surveys and reports can help understand their mood. Confidence is generally stable. This week, the National Federation of Independent Businesses said that its Small Business Optimism Index fell to just below its long-term average, while uncertainty rose slightly. Labor quality was the top concern for 26% of owners and inflation for 20%. Expansion plans weakened, though 17% still plan to add jobs during the next three months. However, small-business confidence improved significantly in the third quarter, according to the recently…