The National Federation of Independent Businesses reports that optimism amongst small business owners has returned to a pre-recession levels and is now barely above it’s long-term average from 1974 to 2014.
The confidence index has likely been helped first by lower interest rates, which has increased optimism about real estate, a key driver of small businesses and lower energy prices. But according to the NFIB the usual sprint that you see to restored confidence levels has been what instead they call a slow slog.
“Unfortunately,” says the small business federation, “the Index did not sprint past the average which is typical of a strong recovery before settling back down. Instead it’s been a slow slog just to reach this point. It’s a little early to declare a breakout.”
46 percent of small businesses complained that taxes and red tape are the single biggest problem facing business owners.
Obviously the election of a GOP-led congress has done a bit to boost optimism as well.
