Small-business confidence rose 0.8 points in September, which put an end to the six-month decline, according to the National Federation of Independent Business' newest Index.

Despite the gain, NFIB's Chief Economist Bill Dunkelberg believes there is not much among the 10 Index components that can be considered "positive." While reports of owners anticipating real sales to increase were higher in September, they were still negative. Owners expecting improved business conditions in six months slightly grew, though this reading also remained negative. 

"An increase in consumer spending would be the best imaginable stimulus right now, not gimmicky Washington policies," Dunkelberg says. "Promising temporary tax cuts financed by permanent income tax increases will not help many small-business owners who pay taxes based on personal — not corporate — tax rates. The key to economic recovery is restoring the confidence of consumers; only then will small businesses begin to see the sales they need to expand.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.