NFIB: Small business confidence improves slightly but marred by ongoing challenges



A closely watched index of small business confidence edged up in September after months of declines, suggesting the economy may begin to take on a more vigorous recovery.

The National Federation of Independent Business' Small Business Optimism Index climbed to 88.9 last month, up from 88.1 in August and the first increase in six months. However, the index remains in territory consistent with a weak economy. Expectations for sales and better conditions both improved but remain low.

"An increase in consumer spending would be the best imaginable stimulus right now, not gimmicky Washington policies," said NFIB chief economist Bill Dunkelberg. "Promising temporary tax cuts financed by permanent income tax increases will not help many small business owners who pay taxes based on personal - not corporate - tax rates."

Employment remains the economic recovery's Achilles Heal. Last week, the Labor Department reported the addition of 103,000 jobs in September, but a large sum of those positions marked the return of thousands of telecommunications workers who had been on strike in August. What's more, unemployment - now at 9.1 percent - is expected to hover around 9 percent through this year.

Tags : LLC, LP, Taxes, Corporate Books, Operating Agreements
Posted: Oct 11th, 2011
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