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FBN’s Peter Barnes on small-business owners’ growing pessimism over the economy and the impact on small business of the federal tax code.
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Optimism by small companies turned down in March according to a new survey the first downturn after six months of gains.
The National Federation of Independent Business reported that nine out of ten components in its small business optimism index we're down last month.
The new about a pessimism was led by small business plans for new hiring in the next three months down four points from the February survey.
That tied the three month outlook for sales expectations also down four points.
Vienna by these said the results showed entrepreneurs can't seem to shake off the uncertainties about the current economy some analysts believe that some of the changes in the outlook.
Can be blamed on rising gasoline prices and caution that could lead to further declines separately.
It's tax time.
A new survey on taxes by the national small business association shows the administrative.
Burden of complying with the tax code for small firms.
Actually outweighs the financial burden imposed by the code.
To demonstrate the administrative burden the survey reported.
45%.
Of small businesses spend more than eighty hours a year more than two full weeks just dealing with their federal taxes.
That's it for this edition of the small business report I'm Peter Barnes Fox Business Network.
