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Raymond James senior vice president Scott Brown on small business' biggest concerns.
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All right time to call another big number today -- small business owners are apparently not very optimistic at all about the next six months this from the National Federation of Independent Business.
Weakest reading.
In their number nearly three years so we've brought Scott Brown -- talk about it senior vice president and chief economist Raymond James is here in.
-- studio with us in New York indices got through in this means what needs of people -- while the hurricane but -- admitted what the election.
-- I I think it is a bit overreaction to the election results as wells hurricane targets to say exactly how much.
But it's interesting when you look through the details of the report even though the optimism was down.
The hiring plans and capital spending plans -- -- a little bit softer so.
People are -- still planning to expand that branding and more expressing concerns about what what's gonna have this short term or the subindex it looks particularly at the next.
A six months did show as a mentioned coming -- you.
Some weakness what are people in your view people you talked to most worried about whether the small business people that I talked to were very much concerned about the health care costs -- Obama care.
And in particular what it's gonna mean to them really beginning in 2014.
And many of them are trying to decide whether to pay the penalty.
Work cover their of their employees.
It's really not clear what impact that's going to be and having but it is the view is that very -- negative.
It started to run any number I mean you're economists -- do you look at this is simply this is really going to be something that hits the economy hard next year or.
I mean -- have you have you done any model -- -- show you what type of impact.
The implementation of the health care -- Ohio economy it's hard to say and I think for some very small firms and it doesn't really matter for very large firms and other matters the ones in between in.
Normally that we're gonna look -- firms to count for lot of the job growth and an expansion so.
We me see some softer job creation numbers in the early part of 2014.
Because advocates and their headed matters right and and that's what this is all about many ways that they got give confidence and start thinking about it even if there is way to deal with it.
Or way around it as there usually is.
You know way to make the most of a of a tough situation if it's in your head and you're -- -- less confident you're less likely to hire and all those types of things right now I think that's what's coming through and insert the headline numbers from the survey.
Ultimately it's it's really about the demand for goods and services that they produce it if I see a strengthening their they're gonna wanna expand even if cops are somewhat -- is -- strengthening there are you confident about the economy generally speaking heading into the well obviously once we get through this fiscal cliff uncertainty there was little added yeah I think the the prospects -- -- bit better and you're gonna have some fiscal drag next year what shall.
Maybe -- a full percentage point off -- either way dramatic yet.
Then I think the fundamentals of the us economy gradually improving you've got some weakness in the rest of the world which and isn't helpful.
You have small the arm of state and local governments which I think are have seen a correction there and that's -- bottoming out.
The housing sector -- covering out of sectors and you're gonna can.
But these issues that we talked about is no way around most of the stuff and in the health care law's the law and then like yeah election and then I think as we get closer to sort of that the deadline at the end of next year then.
I think a lot of lawmakers from Washington and be looking at the -- stuff that maybe didn't make -- -- were kind of put in place debt to get the bill passed.
And though they may be some corrections don't make the burden for small business was -- -- -- -- lot of them -- -- -- -- of these numbers you're rooting for just that Scott Brown thanks a lot -- parent.
