Tuesday, March 2, 2010

Small Business Not Feeling the Love In February for the Nth Month in a Row

In a poll conducted by Rasmussen Reports, the Discover(R) Small Business Watch for February is out. The results remain disappointing. Here are a few snippets from the press release:

25 percent of small business owners see conditions for their own businesses getting better in the next six months, down from 29 percent in January; 37 percent see conditions getting worse, down from 43 percent in January; 34 percent expect things to stay the same, up from 23 percent in January; and 4 percent aren't sure. . .

4 percent rate the economy as good or excellent, down from 8 percent in January; 36 percent rate the current economy as fair, and 57 percent rate it as poor. . .

70 percent of owners say that federal stimulus efforts have had no impact on their businesses, while 17 percent say it has actually hurt their businesses. Only 10 percent reported being helped by federal efforts.

Small business owners confidence in the federal government to help them out continues to decline: 76 percent of small business owners are "not very confident" or "not at all confident" that the federal government and Congress can address the needs of America's small business owners, up from 62 percent in February 2009. Only 7 percent are "very confident" that the federal government can address their needs, down from 12 percent last year, and 15 percent are "somewhat confident," down from 24 percent last year.

It's quite something when more small business owners believe that the Federal government's efforts to stimulate the economy have been harmful than helpful.

Meanwhile, short-term money remains cheap and thus the stock market and gold rose over 2% in February.

When (if?) business finally starts improving in small business-world, will that be a sign to sell stocks?

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