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FullContact CEO Bart Lorang on how small business owners view the economic outlook.
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-- -- Think about it there's a lot of uncertainty in the economy right now we've already hit on the potential spike in oil is something drastic happens in the Middle East and with the election looming know what is quite sure what will happen with taxes or health -- come November.
Small businesses are in a holding pattern not sure if and when they can make a move to increase hiring or spending within the next year.
So -- Lorraine is CEO and co-founder of full contact itself.
And in Colorado he joins us now to talk about business.
And ways that business can try to move for appreciate your being with us.
You're pretty bullish on this economy when I'm hearing from other business owners they're not so bullish why are you optimistic.
Well out of what what what -- -- in my particular area which is sort of software and technology.
Is there is tremendous to -- demand global demand for what we provide and -- actually unable to hire.
We're hiring people -- crazy.
All my colleagues sorry be like crazy or harmful CEOs aren't really crazy.
And we see it -- gravy train insists come along and the tech sector.
But let me and then tech sector but let you know your colleagues who might not -- in tech sector other small business owners.
I know that there are -- -- that's what I think 48% of small businesses surveyed by the Wall Street Journal and -- Increase hiring.
But that's just 48% what about people aren't in tech sector are you hearing from your colleagues that this is a bad economy -- they what what's keeping them from -- Yeah.
Did such -- a lot of a lot of colleagues losses of businesses so the classic cyclical ones like real estate.
There -- cautiously optimistic.
And there waiting for the macro economy to bounce back.
The other slow growth.
Small businesses like nail salons.
And there's sort of depend on everybody else so -- all cautiously optimistic waiting for the economy.
To.
Rebound waiting for the election to -- see what happens there.
But they're they're sort of holding back this investment in this capital.
Waiting for things -- happen.
Well you're not holding back you're fearless sir you lost your business in 2010 coming off the worst recession since the Great Depression.
What kinda it's not -- -- I'm trying to think of the word a strength you know.
-- yes I can't say the word on air.
But in Spanish it starts when he is CNN's in bonuses and -- got on -- I mean what what motivated you to do this.
Well you know it's it's the.
Entrepreneurs syndrome right.
-- under orders don't care about the macro conditions ever it doesn't really impact us since were inventing something new building building things that solving those problems.
That sort of general economy doesn't really matter to us because we're we're building is things that people buy regardless sir I wish I had your appetite for risk -- -- your success record thank you very much Bart -- for joining us.
Here on Melissa Francis is program money you have a great we case out.
