DIM PROSPECTS

82% of Small Businesses Are Gloomy About the Economy

According to a new survey from the Chamber of Commerce

Jan 23, 2013 by Dain Fitzgerald

Staff Writer t +

Image: Houston Chronicle

A whopping majority of small businesses are feeling gloomy if not completely doom-y about the economy, reports The Daily Caller.

In a survey carried out by the US Chamber of Commerce, 82% of companies officially defined as "small" felt the country was on the wrong track, and 54% expected economic conditions to deteriorate in the next two years.

As for the landmark healthcare bill pushed by the President in his first term, three quarters of businesses polled expect Obamacare to increase their costs, with nearly as many saying it will make hiring more difficult.

"Only 5% reported [Obamacare] would make health care coverage more affordable," writes DC's Betsi Fores. "While the Obama administration continues to tout tax breaks and hiring incentives for small business, business owners are crying for something else: more policy certainty, not more assistance, from Washington."

Via The Daily Caller.

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?	Are small business owners right to feel depressed about the economy?

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Absolutely

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No, their perception is wrong

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68 Comments (view in Forum)

Jan '13

stepped_in_it

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And Obama was his name-O (E I E I O)
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Jan '13

MaxPain

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And Bonner was his Game. ei ei OOOOOOOOOO,just what do you think the small Business association is going to say....Oh no its all fine we have just been screwing America for the last 4 years.????????
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@MaxPain Post
Jan '13

MarkJM

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@MaxPain over the past 4 years, well it starts at the top, guess who that is? Here's a clue: B.0. and it stinks....
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@MarkJM Post
Jan '13

Canoochee

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What song is that? Ole MacBingo?
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@Canoochee Post
Jan '13

martydotcom

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I stick with market performance vs the right wing Chamber of Commerce

1. The S&P Homebuilders ETF(exchange-traded fund) rallied today and closed at the highest level since August 2007, more than five years ago (see chart above). Over the last year, the major homebuilder ETF has increased by more than 50% as the housing sector recovers and continues to lead the U.S. stock market higher in 2013. Shares of another key housing market indicator, the iShares Dow Jones US Home Construction ETF, closed on Wednesday at the highest level (22.33) since April 2008 before falling slightly today to 21.96 (see chart). Since January of last year, this key construction ETF has delivered a whopping 68.6% annual return.
- B1 • Vote Up r7 Replies
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Jan '13

Fishbone345

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I said something similar about the market when I first came to this site and was quickly lambasted by some Right posters. Good times those first days. Good times...
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@Fishbone345 Post
Jan '13

martydotcom

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@Fishbone345 i love when they cry their company blew their 401 k ,
I purchased 3 upscale gated community homes 3-4 yrs ago,mshort sales and foreclosures had them rented at break even. Sold one last week, recouped nearly my entire investment in the 3. Anything I get on the other two nearly pure gravy, I'm not gloomy at all. housing prices are up 45% here and inventory is declining rapidly. In no rush to sell the other two
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@martydotcom Post
Jan '13

Knightkore

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Wait....all of a sudden you trust wall street? Hmmm....
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@Knightkore Post
Jan '13

martydotcom

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@Knightmare Trust? or simple observation of the facts. only a fool watches the world go by and does not take advantage of the obvious
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@martydotcom Post
Jan '13

Knightkore

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@martydotcom What obvious? That the "economy" is doing better? In what sector? Seems the big banks and big corporations are doing slightly better....but this one of the worst years retail wise for christmas....
And if you really know what the market is doing....you can see that the dollar is still losing its value....
There are some sectors of housing that seem to be recovering....other sectors still bad and even doing worse....
The indicator still are jobs and small businesses and these are doing very bad still....
http://www.marketwatch.com/story/dow-growth-r...

Basically, thus far there is no growth from Dow companies as a whole, but more earnings are still to come, so this is early. When we remove Travelers from Q3 results, EPS growth appears to be 7.65% for the Dow thus far, but revenue actually becomes negative (-0.02%). This time, Travelers clearly is a drag on the Dow.

My position suggests that real Dow growth rates have been extremely weak, but multiples have not declined with that weakness; they have increased instead. Without aggressive share-repurchase programs, the EPS numbers would look much worse than they already do, real dollar-denominated earnings are actually negative, that means Dow companies as a group are contracting not expanding, and valuation concerns will soon start to come into play.
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@Knightkore Post
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Jan '13

jessejaymes

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@politixDain. We need another choice. "Define small business". Some companies have 200 million a year in revenue and claim to be small because theya are compared to Boeing but they're not compared to the guy on the block trying to keep his doors open month to month.
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Jan '13

marine1

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If anyone has had a small business,10 to 20 people, provided insurance,a 401 K holidays and vacation time, they know it aint no cake walk and we sure as hell don't need any social liberal telling us we have to consider the voluntary dead weight of society
- B2 • Vote Up r17 Replies
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Jan '13

jessejaymes

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I had 50 full timers and 50 part timers for 30 years and never made money before or after like I did when Clinton was in office.
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@jessejaymes Post
Jan '13

Rocker

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@jessejaymes - I can't figure out the heartburn. The way I read the difference between ObamaCare and RomneyCare is the employee qualifying number was 10 for R/C and 100 for O/C. Are these numbers the quantifying for what is small or mid sized business??
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@Rocker Post
Jan '13

jessejaymes

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@Rocker I don't know Rocker. I support socialized medicine but this bastard child called Obamacare is neither fish nor fowl. The GOP and the Blue dog democrats seem to have used it to actually benefit the Insurance companies. I don't think this is going to turn out well but it may be the final catylst that puts us into socialized medicine. I hope so. For the working class poor that are still trying. They need a break.
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@jessejaymes Post
Jan '13

Fishbone345

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@Rocker The difference between Romneycare and Obamacare is Obama is a Liberal Democrat and Romney is a Con....(Oh god I couldn't say that with a straight face.) .. well he's a Republican at least.
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@Fishbone345 Post
Jan '13

Rocker

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@Fishbone345 - That's OK ol buddy... a lot of folks have choked on that one lately. LOL
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@Rocker Post
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Jan '13

jessejaymes

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Everyone knows that the Chamber of Commerce is anti Dem and hates Obama. I don't really care what openly biased organizations have to say about each other.
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Jan '13

Jack-Black

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I feel the same way about MSNBC or whatever they are calling themselves now.
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@Jack-Black Post
Jan '13

jessejaymes

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@Jack-Black So do I.
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@jessejaymes Post
Jan '13

DARSB

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Because the same organization that said this, "20 million people could lose their current coverage" … "including our senior citizens who are on Medicare." couldn't possibly have an ulterior motive. http://goo.gl/jUyoD
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Jan '13

PNWest

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DJIA when Obama became President: 7,949.09 DJIA today: 13,779.33. This sums up your lesson in economics for today.
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Jan '13

RobertJHarsh

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DJIA means sweet F-A. They have changed out those stocks several times. Overall, unemployment has not moved and debt is up beyond Dick "deficits don't matter" Cheney's dreams.
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@RobertJHarsh Post
Jan '13

PNWest

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@RobertJHarsh "DJIA means sweet F-A." - That isn't what my investment reports tell me. How about the S&P 500 or NASDAQ. Take your pick! HAHAHAHAHA
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@PNWest Post
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Jan '13

RobertJHarsh

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@PNWest http://money.cnn.com/data/dow30/ ..make up the DJIA. Unless you are heavily invested in these, then they have squat to do with your portfolio.
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@RobertJHarsh Post
Jan '13

PNWest

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@RobertJHarsh No kidding. Most news outfits report the DJIA as a proxy for the market. The S&P 500 is a better proxiy. Take your pick Robert. It's easy enough to look at the charts for any of them. They all look great! Far different than they did under GW Moron.
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@PNWest Post
Jan '13

Fishbone345

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This just in... Apparently the sky is blue and grass is green. Next on Politix we talk to our guest Captain Obvious. Stay tuned.
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Jan '13

jessejaymes

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Too Funny.
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@jessejaymes Post
Jan '13

Neo_NtheMatrix

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If I were a small business I'd definitely feel strained. Too much regulation from Washington, entirely too much. How can one have the flexibility to promote new products and services and to be creative with a large bureaucracy on their backs demanding they conform to some rigid standards?
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Jan '13

RoyFloyd

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It really has little to do with jobs. Most corporations have either no employees on the payroll or just one (the owner) and only exist as a firewall to protect personal assets.
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Jan '13

JoeJared

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New taxes alone for the results of my work are actually 50% larger than gross receivables. Am I confident in the economy? Hell no. At every angle possible, the government and Federal Reserve is bleeding this economy dry.
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Jan '13

commonsense51

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Everything the GOP and intelligent voters said would happen is happening. No business would ever have confidence when a Socialist runs our nation. You Obama supporters are truly out in left field.
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Jan '13

albert

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The economy is a lot better now than when Obama took,maybe those small businesses would rather have another Bush in office.
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Jan '13

JustTheFacts

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What good is a tax break when you're being raping into bankruptcy by being forced to pay for someone else's damn healthcare and contraceptives!
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Jan '13

RoFroh

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Got no choice but to be gloomy with BO the "friend" of the small business man in office!!!
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Jan '13

ConserveUSA

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Yes, President Obama stated this hope and change which is just totally false. Now, 4 more years of this mess.
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Jan '13

Vance1

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Are small business owners right to feel depressed about the economy? Absolutely!!!!
This Obama has thrashed our economy
Tax and regulate..and control people......The death of America
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Jan '13

SavageMazx

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With ass hats on both sides of the aisle intent on raising taxes and give more of our hard earned money away for to welfare and other entitlement programs spending will go down leaving small business floundering and the ultra rich to reap the benefits.
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Jan '13

stephen

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obamacare will be a killer for small business . however hitler obama doent like free capitalism.
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Jan '13

RedFloppyShoes

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They have every right to feel that way. Obama and the Progressives love the workers, but hate the business.
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Are small business owners right to feel depressed about the economy?

Are small business owners right to feel depressed about the economy?