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The National Small Business Association today released its 2012 Year-End Economic Report, a snapshot of how small businesses are faring today. The result: small-business owners are feeling less optimistic about the outlook of their own firms and the overall U.S. economy than they did this time last year.
“Despite modest gains in the number of small businesses projecting U.S. economic expansion, the overwhelming majority, 86 percent, still believe the U.S. economy will be flat or recessionary in the coming year,” stated NSBA President and CEO Todd McCracken. “It’s no small wonder, then—yet a very big problem—that half of all small businesses project no growth whatsoever for their own business this year.”
Among the key findings:
“Between economic uncertainty, the failure of Congress to truly address the deficit and widespread confusion over the Affordable Care Act, there are very few incentives to start or grow a small company,” said NSBA Chair David Ickert of Air Tractor, Inc. in Olney, Texas. “Surely lawmakers can do better.”
The Year-End Survey was conducted at the height of the messy fiscal cliff debate, likely causing lower optimism and confidence among respondents than typical this time of year.