Don't expect small business to bail the US economy out

Gallup released a disturbing poll that shows US small businesses planning to cut back on new hires drastically over the next 12 months: U.S. small-business owners expect to add fewer net new jobs over the next 12 months than at any time since the depths of the 2008-2009 recession, according to this November's Wells Fargo/Gallup Small Business Index survey. Small-business owners' net hiring intentions for the next 12 months plunged to -4 in November, down from +10 in July and matching the previous record low recorded by the Wells Fargo/Small Business Index of -4 in November 2008.. The Wells Fargo/Gallup quarterly survey was conducted Nov. 12-16, 2012, with a random sample of 607 small-business owners. The same survey found small-business owners are increasingly pessimistic about their businesses' current situation and their expectations for the next 12 months. Historically, net hiring intentions have tended to be very positive, with small-business owners expecting to grow...(Read Full Post)

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