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With economic confidence sinking, unemployment soaring, and the country's fiscal future in flux, Gallup's latest poll results detailing the expectations of small business owners comes as no surprise.
According to the latest analysis:
Small-business owners turned less optimistic about future revenues and new hiring even prior to the events of recent weeks and the plunge in economic confidence. The percentage of owners anticipating that their revenues would increase over the next 12 months fell to 42% in July, down from 49% in April and 54% in January. At the same time, 18% expect their revenues to decrease. Small-business-owner revenue expectations are no better now than they were in October 2010.
And when it comes to future hiring expectations:
The percentage of small-business owners expecting the overall number of jobs at their company to increase over the next 12 months also fell in July, to 16% from 19% in April and 23% in January. Simultaneously, 12% of owners expect a decrease in the number of jobs at their companies over the next 12 months. Small-business hiring and firing intentions are now the lowest since this time a year ago.
As Obama claims to be turning his attention to job creation (something the GOP has regularly pursued in both the House and Senate throughout the current congressional term) the full results from Gallup's latest small business survey are available to view here.