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Small business uncertainty is rampant
According to the National Federation of Independent Business (NFIB), small business uncertainty is at an all-time high. According to the NFIB, the October Uncertainty Index rose from 86 to 88. That figure exceeded the previous record established in August 2016.
According to Dawn Starns, the NFIB’s state director, the unprecedented level of anxiety makes it difficult for small business owners to plan for the future.
In a recent article published by www.wwl.com, Starns was quoted as saying, “Small business owners are just telling us that between the election and all the changes that are constantly being thrown around right now, they can’t plan for growth or compliance with tax code, compliance with labor costs.”
Moreover, with neither presidential candidate discussing what they would do to support and promote our nation’s small business economy, small business owners and entrepreneurs aren’t sure what steps to take to keep their entities viable.
“Small business owners tell us they don’t feel like small business has even been an issue in the presidential campaign the way they’d like to see it, and the fact is that small business owners are the job creators of the state and this nation,” she said.
According to Starns, small business owners and entrepreneurs have expressed so much uncertainty and anxiety about our nation’s economy that she isn’t sure if and when those attitudes will improve. In fact, she says in the past four months, the NFIB has noticed an uptick in business owners saying they are putting expansion plans on hold until the economy displays more predictability.
Tami Kamin Meyer is an Ohio attorney and writer.
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