Report: Small business owners concerned about future

(Photo by Stephanie Pawlowski/WJBC)

A new report shows small business owners are becoming less confident in their chances of success. The National Small Business Association released their 2011 Mid-Year-End Economic Report today. It shows 36 percent of small business owners aren’t confident about the future of their business. That’s up from 34 percent in December 2010.

The NSBA’s Molly Brogan says business owners have been bombarded by multiple problems during the recession.

“Access to capital remains an issue. The fact is that lending standards are so tight and so difficult that very few business owners are going to have the perfect credit score that banks are requiring. Health insurance continues to increase. Plus, the last few months’ nonstop bickering over the debt ceiling, culminating in what isn’t really a long-term solution.”

Brogan also says 47 percent of small business owners thought the economy today was worse than it was six months ago.

It’s not all doom and gloom though.

“Employment does appear to be moving in the right direction,” Brogan said. “Not terribly fast, but it is moving in the right direction and projections for the coming 12 months were up from the past projections.”

She says starting a small business can still be a viable option.

Listen to the full interview with Brogan below.

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