On Tuesday, the National Federation of Independent Businesses (NFIB) released their small business optimism index report for August. Unfortunately, the Optimism Index dropped for the sixth consecutive month. This report suggests that American small business owners are very pessimistic and uncertain about the future. This doesn’t come as a surprise for many small business owners who have voiced concerns given the current economy.
The report also suggests that small business owners aren’t optimistic because they are facing low consumer demand coupled with new regulations from Washington. High taxation and an uncertain economy contribute to the pessimism. In order to combat the growing problem, the House Small Business Committee announced Tuesday a new interactive online forum, Small Biz Open Mic, that it says gives U.S. entrepreneurs a chance to speak directly with policy makers. The site is a blog-style media forum that invites small business owners to leave comments and share stories. Continue reading