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Small Businesses: Difference between revisions
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"Small business owners remain very pessimistic about future business conditions and their sales prospects. But in some industries, such as construction, health care, transportation and some consumer services, spending and therefore labor demand remains strong. But overall, the number of firms reporting employment gains has been falling gradually. Capital spending and inventory investment are down. Overall, economic growth is falling. This will help put a damper on inflation, but at the cost of lower employment."<ref>https://strgnfibcom.blob.core.windows.net/nfibcom/SBET-June-2023.pdf</ref> | "Small business owners remain very pessimistic about future business conditions and their sales prospects. But in some industries, such as construction, health care, transportation and some consumer services, spending and therefore labor demand remains strong. But overall, the number of firms reporting employment gains has been falling gradually. Capital spending and inventory investment are down. Overall, economic growth is falling. This will help put a damper on inflation, but at the cost of lower employment."<ref>https://strgnfibcom.blob.core.windows.net/nfibcom/SBET-June-2023.pdf</ref> | ||
Insights: | |||
* Small business owners '''expecting better business conditions over the next six months improved 10 points from May to a net negative 40%''', 21 percentage points better than last June’s reading of a net negative 61%. | * Small business owners '''expecting better business conditions over the next six months improved 10 points from May to a net negative 40%''', 21 percentage points better than last June’s reading of a net negative 61%. | ||
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* The '''average rate paid on short maturity loans was 9.2 percent, 1.4 percentage points above May’s reading.''' This was the highest since June 2007. | * The '''average rate paid on short maturity loans was 9.2 percent, 1.4 percentage points above May’s reading.''' This was the highest since June 2007. | ||
Labor | Labor Insights: | ||
* '''Forty-two percent (seasonally adjusted) of all owners reported job openings they could not fill in the current period, down 2 points from May.''' | * '''Forty-two percent (seasonally adjusted) of all owners reported job openings they could not fill in the current period, down 2 points from May.''' | ||