WASHINGTON — The National Small Business Association (NSBA) has released its 2013 Mid-Year Economic Report, indicating that 40% of small-business owners feel “today’s economy is better off” when compared to five years ago—the highest it’s been in five years, the association says.
“Unfortunately, small-business owners didn’t express that same positive growth when it comes to their own business,” says NSBA President and CEO Todd McCracken. “Past and projected growth in jobs and revenues remained stagnant while small businesses availability to garner financing dropped—two key indicators that go hand-in-hand.”
The NSBA further reports that 65% of small businesses are unable to obtain adequate financing, down from 73% six months ago, and that “economic uncertainty” remains the number one challenge small-business owners face.
Small-business owners were also asked about policy issues, including healthcare reform and taxation. One-fifth of small-business owners have a “clear understanding” of how the new healthcare law will impact them, the NSBA says, while 43% say they have “been the subject of an IRS audit or follow-up action in the last 10 years.”
“A unique and very disappointing finding from our survey: the number one issue small business wants our elected officials to address isn’t even policy-imperative, it’s for them to end the partisan gridlock and work together,” says NSBA Chair David Ickert of Air Tractor Inc. in Olney, Texas. “There are too many important issues facing our nation for this continued failure from policymakers.”
The full 2013 Mid-Year Economic Report can be found at the NSBA’s website.