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Dan Danner of the National Federation of Independent Business breaks down the state of small business.
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Small business optimism dropped again for the fourth time in five months and the latest NFIB.
Survey joining us now.
Dan Danner CEO of the National Federation of Independent Business.
Thanks for being whether stand some pretty bad report here at what bothers -- is at 82% of the time the S&P 500.
Goes in lockstep.
With small business confidence.
What to -- in these guys.
Well they're not confident you indicated this is the second lowest.
Reading of the year in terms of optimism for small business -- sales are down they're.
Concerned about taxes and regulations gone forward.
And now all that uncertainty is keeping them on the sidelines yet you know we -- figure notes if the election.
But this is a remarkable figure hear you say the number one reason they cite is regulations and rules get in the way of their business that's 21 per sick and it's doubled since Obama took office right.
No question I mean they they really in terms of trying to invest they look at all the uncertainty out there now.
And and they're just not.
Going to risk their hard earned money in this kind of an economy and yet these -- the guys small business not a real large.
I mean capitalism is optimism monetize if these guys are hopeful -- -- some guy in a big huge fortune 500 company be hopeful that you guys faded since June 09.
That we've been below the 93 level incompetence 32 times now up to that in the previous.
All like 23 years we don't -- them below that level -- far fewer times like 26 times or something.
Can be done to improve the confidence of the -- over.
Well we gotta have some kind of certainly we gotta say what taxes are gonna be the got to know what the costs that health -- going to be.
And they got to have some feeling that the government regulators are gonna get off their back.
Otherwise they're just not gonna come off the sidelines.
Why would you risk money now.
When you to have no idea what your return is going to be yet only 2% of your respondents say yep we're having a hard time -- -- so this is not a lack of credit.
This is a lack of hunger to grow.
What could be done about this just sort of the election also only 7% of your small business people now say that now's a good time expense out but -- spoke to expand -- -- downturn.
Well that the -- and more of them right now are saying I'm gonna reduce employees before I -- employees.
I mean until they see.
A different government driven atmosphere.
I don't think they're gonna invest any time -- -- that November election cannot come soon enough no matter who wins thanks for being with us -- very -- more.
