The National Federation of Independent Business reports on business sentiment. It is bad. With 1986 as 100, October’s sentiment was 90.2. In January 2009, almost three years ago, it was 89.1. That was in the recession. This recovery is the weakest in post-Word War II history.
Sentiment is a little better than in August, but it is still below par. Yet small businesses are where new job creation centers. These businesses are not hiring. They do not see a major recovery in 2012.
When you read about the sluggish economy, you can be sure that small businesses are taking the brunt of it.
They refuse to borrow from banks, because they do not see increasing demand. They are treading water.
