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November 09, 2005
Conflicting reports
According to the latest Small Business Index of Optimism out from the National Federation of Independent Businesses (NFIB):
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Get ready for a strong fourth quarter, say American small-business owners, whose upbeat views of the days ahead triggered a nearly-four-point jump in the October NFIB Small-Business Optimism Index to 103.7 and confirmed previous findings that recent hurricanes had little effect on the nation’s overall economy.
-snip- "The job creation outlook is very good and the fourth quarter should produce solid employment gains,” said NFIB Chief Economist William Dunkelberg. More firms plan to create new jobs than at any time since the dot-com boom. Except for agriculture and retail trades, hiring plans were solid in all industries with financial services and construction topping the list, followed by professional service firms. Regionally, South Atlantic states were the strongest. |
On the other hand, check out the latest results from the monthly International Profit Associates Small Business Research Board (IPA SBRB):
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Confidence in the general economy has eroded. Just 26% of those surveyed say they expect the economy to improve over the next twelve months. This compares to 53% who said the economy would improve at the beginning of the year and 43% who thought the economy would improve in an IPA SBRB survey in July.
-snip- "Small business is worried about the outlook for the economy and their businesses," said Gregg Steinberg, President of International Profit Associates ... . "With a wide range of growing concerns, business owners and entrepreneurs must take stock of how they are managing their businesses. Those that are not currently controlling and maximizing every aspect of their business may be in for a very daunting ride." |
Who's right? Only time will tell. Check back with me in January.
Posted by The Journal Blogger at November 9, 2005 08:43 PM
