Please consider the NFIB Small Business Trends report for April 2023.
Heading into April small business optimism was below the long-term average of 98 for 15 months. This makes 16.
Small business optimism is 98.0, worse than any month of the Covid pandemic.
Small Business Sales
9 percent of small businesses report a net decline in sales.
This is the worst things have been since August of 2020 in the Covid pandemic crisis.
Prices Falling
A net 33 percent of small businesses report a rise in sales. But this is down from 66 percent in March of 2022.
Even though prices are up, earnings aren’t. Prices received are not keeping up with inflation.
Small Business Earnings
A net 23 percent of small businesses report a decline in earnings.
Small businesses are struggling with inflation.
Job Opening High, Plans to Hire Falling
55 percent of small businesses report few or no qualified applicants.
Small Business Prices and Labor Compensation
A net 40 percent of small businesses report increasing labor compensation.
Small Business Outlook
Net Percent (“Better” Minus “Worse”) Six Months From Now (Seasonally Adjusted) is at a net negative 49 percent.
These numbers are the worst ever.
Inflation and Quality of Labor the Most Important Problems
The Three most important problems of small business owners are quality of labor, inflation, and taxes.
What Does President Biden Want To Do?
- Mandate more free benefits including child care and paid time off.
- Force more businesses into collective bargaining agreements.
- Concoct more rules and regulations that businesses must comply with.
- Make businesses submit environmental protection plans.
- Raise taxes.
Perfect Plan
Biden has a perfect plan to destroy small businesses.
The worst in history look-ahead optimism numbers at a net negative 49 percent shows that small businesses are fully aware of what the president is doing.
Battles Rage Over Biden’s Clean Energy Projects as the Size and Cost Jump
Hey guess what. The cost of Biden’s ridiculously named Inflation Reduction Act is soaring.
For discussion, please see Battles Rage Over Biden’s Clean Energy Projects as the Size and Cost Jump
Meanwhile, Biden insists that reducing the deficit is a nonstarter in budget ceiling talks.
Meanwhile, the debt ceiling clock is ticking away. And the onus is now on Democrats to do something.
Hello President Biden, the Ball Is In Your Court. Just don’t expect any meaningful action.
This post originated at MishTalk.Com
Please Subscribe!
Like these reports? I hope so, and if you do, please Subscribe to MishTalk Email Alerts.
Mish
