Small Business Hiring Stalls as Economic Worries Linger: Report
Of small businesses polled, 52 percent perceive their top issue and biggest challenge as the general economic climate.Small businesses' outlook for the national economy is not positive, and nearly two out of three do not plan to hire in the year ahead, according to a poll conducted for the U.S. Chamber of Commerce by Harris Interactive. The poll of 1,322 small business executives-conducted between Dec. 30, 2011, and Jan. 6, 2012-found that more than eight out of 10 (85 percent) now believe the U.S. economy is on the wrong track. "The policies coming out of Washington are only exacerbating the economic uncertainty that small businesses continue to cite as their greatest challenge," said U.S. Chamber President and CEO Thomas Donohue. "Heading into an election year, our country's job creators are speaking with a unified voice in saying that we need a change of course in Washington. With government spending and regulations out of control, small businesses don't know what's going to hit them next."
Eight out of 10 say they would rather have Washington stay out of the way than provide a helping hand. Similarly, nearly nine out of 10 (86 percent) say they would rather have more certainty from Washington than more assistance (6 percent) to deal with the economy. The survey defined a small business as a company with fewer than 500 employees and annual revenue of less than $25 million.