Also in this playlist...
This transcript is automatically generated
-- hi guys sorry I was waiting for animation.
Good morning everybody it's Wednesday we've made it -- -- off on this small business.
Center Wednesday with -- Rogers from the Fox Business Network.
We're talking about the small business optimism index that we got yesterday pretty disappointing number -- only -- that recession levels aren't playing how we are.
Or actually in recession levels and this isn't important index to watch because it was the first index released and the Supreme Court handed down its landmark decision on obamacare backing -- So everybody was really looking to this.
-- kind of gauge the pulse of the small business community.
And it fell two points in 91 point -- you.
But it fell less than expected.
Economists are expecting a bigger drop than their optimism wants obamacare was upheld the Nextel I spoke with build uncle Greg yesterday he's the chief economist for an NFIB.
And he said that you know like all the other times he's expecting a -- -- but he things that's so much of the media hype that was surrounding the decision kind of heated this small business community into just accepting that this was going to be upheld I wasn't a surprise -- wasn't as surprising investors some historical context.
Like I said this and then recession levels in the lowest level at this hit during a recession was actually in.
July of 2009 and it was at 86 point two.
And the highest level I was I was actually this past February 2012 when he was at 94.
So where she between.
Like is that we're song that recession territories and a few years after -- assessing healing -- that would be higher be great to have those February levels again oh yeah absolutely so.
-- the major issue for a small business owners 20% and said -- sales and still their top issue.
He says people are buying their stuff exactly they're not buying and only 5% of small business and I think that now is a good time to be in business.
Meaning not -- and I don't think it's a good time to be in business.
So now unless it's almost like saying 95% of small businesses kind of which didn't have a small company -- yeah now and what's worse is that for the next six months they're not feeling not good their optimism levels you know for the future they don't think that it's going to clear up any time soon and this -- Translates -- hiring gore should say not hiring because its sales aren't -- why wouldn't they hire new workers a lot of -- -- -- -- -- bringing a profit back in and still hiring is of course is fast and the index and still only 11% of businesses hired an average of three workers.
Her firm over the past six months 11% hired three workers over the past six months yes I had 10% of workers fired.
2.3 percent so we're warrants it actually so it's it's canceling each other out even if they are hiring they're still firing you know a little over two workers' average -- for.
Cop not good no that's very disturbing definitely -- they want to -- to make them.
Higher while blankets and met with bill yesterday from -- I mean he said he's not feeling any better evening six months out.
They do he said that the economists -- talk from July to July and that optimism he thinks is going to see the same -- Come next July -- not getting -- -- so even have to deal action and -- -- and feeling good he tell you what happens if Romney gets elected and if Obama gets reelected.
He he said you know in here really.
Even if they do get elected nothing's going to happen from now until November -- -- -- from November to January really again until the next president -- and they're not gonna happen except for the fact that.
We're approaching fiscal Clinton so a lot could and then I lose -- optimism nothing's going to I don't know I remember it hit yes.
Yes it kidnapped.
They can't get a lot weren't so yeah it is set and one -- on hiring some 48% of businesses didn't even attempt to -- -- -- the past it just about -- not even trying -- and rose Tuesday it trying to hire.
Said that they couldn't find skilled workers so.
Yeah and I know we talk about this before on the show but that's skill work very young skilled workers gap is always huge issue for -- is is it because as though the really good and employees right now we're working at -- -- -- what how how could I think you know I think that a lot of job training isn't as strong as it -- been in the past never had -- -- just really impacted.
The amount of skilled worker is you would think that with more people out of work EBE here trying to save it but not -- -- these mountains and so did they say another trying to better target.
Advertising to get.
More skilled workers missing next but I I have spoken in small business owners before and him like you said you think they would have more muscle action but that doesn't seem to be the case and of course there probably -- -- about who they're bringing them is if you know someone who's not a great fit for your business.
And you're ready a little risky about hiring why would -- -- take that plunge and bring him.
Now today I agree with them I mean I would be the same way night you know we try to ban a word answer -- -- For -- -- hearing I don't think we say I don't see after we we did and I'm gonna -- -- this time because the empire state survey today which is the New York manufacturing survey.
Basically it not good news on manufacturing in this area where we are now but.
-- for everybody who who hate the word I mean we really have to say 53%.
Of respondents in this survey cited uncertainty.
As a reason says more than half.
-- -- insulin saying there eight capital spending business plans.
And then that affects their hiring of -- yeah there it is -- -- if you're not feeling from unsteady on tiny home we just need to make them feel comfortable.
If anyone has -- further that yeah.
I'm sure well it has already been spoken about as the closer to November and -- in the entertainment is my coming up.
Yeah right let's look at article on foxbusiness.com.
Kim Rogers thank you so much for coming on and to land joining -- -- -- go to break right now we'll talk about some more of the issues affecting small businesses when we come back from the short break.
Welcome back everybody okay we're gonna have a right out to Charlie Moore in San Francisco joining us from our fox bureau there you are.
The founder and attorney with -- -- lawyer hi Charlie.
I -- OK so what -- rocket lawyer.
So rocket lawyer is the number one legal site for small businesses and consumers.
Two million small business owners Tony million consumers use rocket lawyer.
To manage all their basic.
Legal affairs and legal needs.
And so as a result of that we get to hear from them and they get to tell us what they think about the economy we've just recently.
Done the latest rocket -- small business index as a result of hearing back from.
Well the economy is top of mind of course for the small business owner.
There are some interesting things that we found this time around.
We -- that it's every them earlier in the year we found that they were optimistic.
The most recent information tells us that they're still optimistic more than half think that the second half of the year.
Is going to be better than the first even though that's down.
Slightly from the number that -- 2012 was going to be better and -- -- eleven.
And an -- -- a third of small businesses.
Are expecting to hire in the second half -- year yes we're hiring 38%.
That's right yeah.
-- end so that bodes well.
Potentially for the economy small businesses really have to be I think everybody agrees on that really have to be.
The growth engine for for our economy at this point.
But historically speaking 38% of small businesses say they expect higher.
What is 38% -- historical basis is that good bad average.
Right you know that's a great question I think it depends on the context and so we saw -- much lower numbers.
Last year earlier.
Asked during the Great Recession so this is definitely an uptick from what we've seen in the past.
-- however it's certainly not as high I I would expect -- I -- this is more anecdotal.
But I would expect it certainly not as high as what you might have seen.
In a real boom time like 1999.
Right -- this is definitely trending higher than what we've seen during the recession.
You know a time when it.
And getting meets my next point is actually going to be someone reading my mind from our viewers chat right now going can you read this is chatting -- And that day he says government policies and directives have -- -- the batteries it can't be jump started and until -- are removed which brings me.
It's my next question I'd love to get your response on that -- but how old are complying with increased government regulations the number one.
Legal concerns for small businesses out there.
That's right so.
It's -- certainly complying with regulations and and the law in general is major concern for small businesses we we just found that 65%.
A small businesses in this very survey.
Said that legal concerns -- the number one issue facing their business and that's up from 52% the last time.
We did a survey.
I yeah I -- among those legal concerns another surprising thing was was that.
Complying with government regulations and something.
That is that small businesses wanna see.
The the candidates and government talking.
More about that that is the the biggest of the legal concerns that did surprise me given that.
Litigation has often been the fear of being sued and an actual lawsuits -- often been.
Top of mind but today I.
Our information is telling us.
That it's complying with government regulations something else you might yeah they're very interesting to to point out definitely okay -- -- -- Oh I was just gonna say something else you might be.
Interested in is that also 65% of those surveyed.
Think the candidates.
In the presidential election really are talking enough for now enough right now about.
Small business issues.
They aren't so I think that's -- we're not talking enough they're not they're not they're not right.
Disturbing said -- -- in either direction the Obama camp where the Romney camp what -- their feelings about how.
How each candidate can fix the situation for them an address the issues we've spoken about here.
Right well I I think that that is.
Probably not a not a surprise -- probably in line with other polls.
They'd be that follow this some small businesses that we.
More than half of them were Romney supporters and I think that.
That what that indicates is they wanted a they want more attention paid.
Too small to small business issues I think they're really speaking from.
The two thirds who said.
That the candidates are talking enough about it and so.
My opinion is that's an opportunity really for both candidates.
To focus more on small business issues.
Because that's what the small businesses are and what they need him to do well on the next president to say what a small businesses really want here.
Right I think from our from our data they they wanna hear.
Number widen that there -- reducing the burden of complying with government regulations that's that's really the number one thing.
That the small businesses are saying that that the candidates can do.
In addition to that.
Small businesses really are concerned about the overall macro economy and so that's something that they want the candidates to pay laser attention.
Yes and I think they are or at least staking -- -- -- Charlie our viewer can you read this has a question for you what do you think about Obama care.
And its effect on all business small and big business out there.
That's a great question as a matter of fact I just wrote.
A long article.
In in -- about that very issue.
So on balance our our our the -- rocket lawyer.
We where we work with small businesses.
Those that have typically fewer than fifty employees -- -- most of the businesses in the United States.
And for most of them.
The cost of health care is probably gonna get better from our analysis.
We really think that most of those small businesses are going to benefit those with.
Fifty year fewer employees are gonna benefit from.
Having more certainty I mean what small businesses also tell us.
Is -- what they want is certainty and so with that the health care issue really decided with the Roberts court.
-- deciding that obamacare is going to be the law of the land.
-- forever potentially.
That's gonna ultimately give the certainties -- that small businesses can comply now there's one hobby out that I would put on that.
And that is that much of the law still remains to be fleshed out and especially.
-- -- way that their health care exchanges are gonna work I don't wanna get into too much inside baseball in detail but back to our number one issue.
Making compliance less burdensome.
I think that government has a wonderful opportunity here.
Two -- -- the health care locked in a way that compliance is going to be easier for small business.
And then they're gonna benefit from a -- that does still remain to be seen.
Our rocket -- thank you for coming on let's pull up your web -- rocket lawyer dot com.
And well and this segment on a comment from David Larson aren't chat how can -- how can anyone -- -- business right now.
One banks are not loaning it to unknown if taxes are going up and third would be that Obama care.
Can kill all of their income before they can even start.
David -- you're not optimistic today -- seems to the general trend.
Uncertainty bringing back the key -- -- will be right back with some information on on this.
-- bucket as where.
Sending up the summer they thought spots and it -- this is a small business and it's netting a lot of money for for one small business and it will be back.
Welcome back everybody am Lawrence in an eight days for joining us okay our final segment is a success story actually this company has been out since 1999.
But the past two years.
Had been phenomenal for Margaret Joseph -- onto for north founder.
The best collection and you brought some really colorful make me wanna go to the beach kind of products onto our sense of -- a little bit about your business -- -- Yes of my business the Macbeth collection it started in 1999.
And it's really that.
Developed into a lifestyle brand but when I started in 1999.
I had my fourth child in my house was in complete disarray toys everywhere magazine and everything else.
And I realize there was -- fabulous -- storage solutions nothing decorative nothing -- that you could really keep out.
So I decided I'm going to take my design ideas and put prints and patterns on something utilitarian.
About -- and why not dig the -- some buckets.
Design fun to read the why not say he's sorry but my next -- around people went to -- -- yeah might invite some botnets and actually.
Design some prints and patterns prison down on the local copy -- And actually hand applied them to buckets went to my local store and said what do you think it is would you like to buy them because everyone thought there was -- great.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- But the list -- a lot of people realize we're really a lifestyle brand everybody wants these prints and patterns on everything so we started licensing out our brand which really became amazing our patterns -- -- -- I'm betting.
Tech accessories -- bath and body should have a really expand we've really expanded the list to -- and Hamilton negligence like.
I employ twenty people in my domestic line because this is also handmade in the United States thanks but on our licensing and I work with a lot of different companies -- where where you know.
Paid via royalty you know designing for those companies -- And where do you get your buckets and put words from where you get the raw material the raw materials actually here on imported from India had been clip where it's come from the United States that wall differ resource of and then you literally just you -- -- and you.
These are here are here and done I have you know now I have a team of graphic artist but it's taken very long time to you know grow that business.
I design all the patterns based off of my fashion backgrounds and I really more fancy you know we're talking about -- -- -- about this -- -- -- a summary of the flip -- -- guess.
Want your victory elegant in how much it cost slip plus this is actually young sixty dollars retail and -- -- And it's flip flops and come on any pattern art and concept is any print on any shape you can write any word on it but no one ever has something at their beach house that they can put their foot plot and is chanting and dancing and waterproof your coming in off the beach has looked great and very flip flops and it looks adorable and -- repeat chest and it comes in a bunch of different parts of I like it what about this one here what is as it does all this is an out -- -- the -- napkins -- -- this is our total -- it's done unbelievable it's been featuring an Oprah before.
And really we're gonna -- you know -- -- -- any -- magazine up.
It you -- that -- your little napkins and hear your utensils.
And you're you know you're outside entertaining he just got out there and put it in and it's great and it's it put into from print on it would be for your desk excessive is yes so we're really not numbers -- -- Intel's 45 dollar 45 okay.
And it -- here we have this is our clipboard this was our biggest surprise ever that we ever did I cannot say that's -- -- because he uses a -- for a guy that's what I used to say -- uses a trade show I would always do want my clients and you know I'd really like to buy that this is in 2000.
And I said there's -- -- -- -- boards so can check out I showed up with all the clip boards and all different patterns -- -- the ultimate teachers have to actually.
824 -- -- is it's a good price point it's a good price point and you can actually put your name on it sonogram at whatever and we are the first ones do we think.
Up since then but you know what we -- the innovators and we just moved on into my -- okay and then.
It's something negative yes this is actually one of our I can't cover that we're yeah we're licensed out of these all of these items are more boutiques across the kind of found online and also an online on our website and I -- collection dot com.
But he's also on the are items like this -- -- -- best buy RadioShack and target places like that this is designed for the masses everything you know is very affordable and great.
Viewers are weighing -- IG PB 53 -- why didn't have to be huge.
I know I look at so actually not as not to think that.
You know what I know how to cross my goods -- you know -- been in his long time I've had a lot of pitfalls I made a lot of mistakes right.
You know I -- you have to be very savvy I've been around long time.
Whose target demographic in an.
In terms -- I know -- -- targeting mom and -- and decorate the -- I got that -- right Democrats without a lot to me to get you know it's funny you know originally -- wise but our demographic has gone anywhere from between two to 65 it's for the young hit the cart because I'm thinking as I'm looking at your product that's coming into my head it's like a lack of bridal -- -- baby -- practiced Sunday yes we do that that's what it is it's for.
Anybody who's giving a great gift to -- demonic -- who wants it.
We're great for gift giving -- great -- were great for dorm where great -- Any kind of items so that's why are demographic we've really crossed over to a lot of different areas Brian -- from New York says how do you pac -- to protect -- products like that well it's funny we cannot patent protected but all of our designs are copyrighted.
-- and redesign dollar designs originally nothing you -- you know.
Copyright strike -- you know what all of our other prints are Paisley is everything else is actually hand drawn on our head on down on the computer how we copyright all of our designs and you know what we just keep ahead of everybody else we just you know we tried to stay one step ahead -- very fortunate to me.
On you know what I -- -- -- Internet and every Indy -- everybody.
Yeah and -- you know item that we didn't I don't want to get everything knocked off by a lot of the big people we've been knocked up by pottery barn and you know what.
People come back to -- amazing customer service where amazingly innovative and -- we can barely out of -- gave customer service and -- -- cut my own shopping because I am like the world's best shopper and I think can anyone have a little problem you come look I noticed that when I -- a small businesses particularly an -- and yes any sort of issue they are so inclined to help you.
And satisfy you the customer's always right in my opinion you have to that's the ultimate thing that's of people keep coming back for more I'm not saying we never make a mistake that we always make it right.
Margaret Joseph thank you for coming on the pleasure meeting you that make debt collection dot com is where you can find more of these gorgeous products -- -- -- their soon.
And well and with VS -- senior saying whether you like her idea or not at least she had won and -- -- work good for heart soul and -- standings for joining us on the small business Wednesday.
I'm Lawrence and many semi its lead FaceBook message -- ever we thank you so much for joining us on the chat especially today.
Filter by section