Small Business Owners More Worried about Future Sales & Earnings

Feb 19, 2021

Credit https://www.nfib.com/surveys/small-business-economic-trends/ / NFIB Small Business Optimism Index

Small business owners are worried about continued loss of sales and earnings as the pandemic and restrictions dictate how many customers walk through their doors.

Michelle O'Neill has more.

Credit https://www.nfib.com/surveys/small-business-economic-trends/ / NFIB Small Business Optimism Index

That's according to the Small Business Optimism Index for January from the National Federation of Independent Businesses.

At 95, the index is down about one point from December and more than three points from a 47-year average.

Mark Grant, the federation's Illinois Director, says small companies are hurting the most. And businesses in travel and hospitality have been hit the hardest.

He also says owners of companies in Illinois may be even more pessimistic than those in other states because of the state of its finances and lawmakers' tendency to hike taxes and fees on businesses.

The January Small Business Optimism Index shows the percentage of owners who expect better conditions over the next six months has dropped to a "net negative 23%." That's the lowest level since 2013. That statistic has fallen 55 points over the past four months.