Bill Dunkelburg of the National Federation of Independent Businesses just released his monthly small biz confidence survey for July. There was a slight uptick in confidence from June, but the numbers are still depressing. A few takeaways:
- Thirty-seven percent of owners reported that inflation was their single most important problem in operating their business, the highest level since 1979.
- Owners expecting better business conditions over the next six months stand at a net negative 52 percent, one of the worst numbers in decades.
- 56% of owners raised prices in July, which is a sign of inflation.
- The net percent of owners who expect real sales to be higher over the next year stands at a net negative 29 percent, a very bearish outlook.