NFIB Index Reveals Drop in Small Business Owner Confidence
After increasing two months in a row, the National Federation of Independent Business’ (NFIB) Small Business Optimism Index fell slightly in June, revealing some uncertainty among small business owners.
Overall, optimism figures are still high, with June’s index dipping to 93.5 in June from an annual high of 94.4 in May – the NFIB attributes the drop to weak demand. However, the drop in optimism comes in contrast to the many economists who predicted the economy will improve during the second half of 2013, which would provide some relief for small business owners.
According to the June NFIB report, 11 percent of small business owners added an average of 3.6 new employees over the past few months, while 12 percent of respondents reported they cut an average of 4.3 workers during the same time frame.
As results are mixed and small business owners wait for the economy to rebound, some continue to struggle. Many small companies are increasing prices to keep their doors open – the report found 18 percent of owners plan on raising prices over the next several months.
If a company needs financial assistance, they can come to National Funding for advice. National Funding can provide individuals with a business cash advance when unexpected costs arise, so owners can stay in business.