Having soared to all time highs in 2018 cheering Trump's tax cuts, economic confidence among small businesses has hit its lowest level since the 2016 election, according to a new report.
Heading into 2019, small businesses are becoming more cautious about their plans for spending, whether investments or hiring new employees. Some are already reacting to slowing sales, while others are trying to plan ahead and deal with fears of tariffs, volatile financial markets, the government shut down, higher interest rates and other headwinds heading into the new year with some already speculating about a 2020 recession.
According to a monthly survey of 765 small companies by Vistage Worldwide Inc, just 14% expect the economy to improve this year and 36% expect it to get worse. For the first time since the last election, small businesses are more pessimistic about their own financial outlook then they had been in the year prior.
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5 comments:
With the complete dysfunction in Washington, it's no small wonder.
If this is true, they are just being cautious in the extreme case President Trump doesn't win the 2020 election
Democrats are the reason!! Plain and simple
Small businesses only benefit those that have already made money and want a write off. They are not a foot up for anyone that does not have a really ambitious and unique business model or product and willing to work 24/7 with no reward. The capitol,sweat and frustration is better invested in the market in the long run.
These could be the same pollsters that predicted a Hillary 12 point win.
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