Washington, DC (PRWEB) October 03, 2012
Prolonged uncertainty about the economy is impacting small businesses’ ability to create jobs, according to the U.S. Chamber of Commerce’s new quarterly small business survey conducted online by Harris Interactive. Only 16% of small business owners reported that they plan to add employees this year, and the majority does not expect to hire in 2013. Small businesses cite the looming fiscal cliff, burdensome regulations, and the health care law as top concerns when considering their business’s future. Leading into the election, the small business community is also energized to effect change, with 92% saying they are very motivated to vote and 97% outlining support for candidates who support free enterprise.
“Continued uncertainty is the greatest threat to small businesses and our country’s economic recovery,” said Thomas J. Donohue, president and CEO of the U.S. Chamber. “We know that’s true from talking to our small businesses, and our survey proves it. Uncertainty forces job creators to sit on the sidelines instead of hiring more employees and expanding their operations. We can help reverse this downward trend by addressing the fiscal cliff, promoting sensible regulations, and providing a clear road map for growth.”
In addition to declining business attitudes as a result of current policy from Washington, inaction is a top concern. More than six-out-of-ten small businesses believe the expiration of the 2001 and 2003 tax rates, coupled with sequestration, will have a significant negative impact on their business’s growth.
“It’s no surprise that given the current economic climate, small businesses are highly motivated to vote in November,” continued Donohue. “These job creators recognize that leadership in Washington directly impacts their ability to thrive, and they will use their voice and their vote to support candidates who will fight for free enterprise policies this November.”
Among the key findings of the Chamber’s Third Quarter Small Business Survey:
Prolonged Uncertainty is Impacting Hiring:
Impending “Fiscal Cliff” Adding to Economic Fears:
Leadership in Washington Affects the Small Business Outlook:
Business Community Highly Motivated to Vote in November:
The Q3 U.S. Chamber of Commerce Small Business Outlook Survey was conducted online between September 20 and September 27, 2012 by Harris Interactive among 1,391 Small Business Executives (defined as executive level position in a company with fewer than 500 employees and annual revenue less than $25M).
Full results from the U.S. Chamber’s Q3 survey can be viewed here: http://www.uschambersmallbusinessnation.com/community/small-business-outlook-survey-2012-q3