NEW YORK (AP) — When the country recovered from recessions in the past, small businesses were usually the first companies to start hiring. But smaller companies are so pessimistic now that they're not taking on their historical leadership position.
The National Federation of Independent Business, which issues a monthly report on small business optimism, says "confidence in the future of the economy crashed in August." The group's optimism index — which it wryly called the Small Business Pessimism index — was down for the sixth straight month.
"The small business half of the economy is still in the 'tank'," the NFIB said in its report.
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