55% of small business owners wouldn’t start company today, blame Obama
The National Association of Manufacturers (NAM) and the National Federation of Independent Business (NFIB) announced the results of a nationwide survey of small businesses and manufacturers. The results cast a harsh light on the state of the U.S. economy six weeks before Election Day.
The poll, conducted by Public Opinion Strategies (POS), surveyed 800 small business owners, manufacturers and decision-makers at small and medium-sized companies, with a majority (55 percent) saying the national economy is in a worse position compared to three years ago. Among the chief factors survey respondents cited were federal regulations, taxes, government spending and the cost of health insurance and energy.
Key survey findings include the following:
- 67 percent say there is too much uncertainty in the market today to expand, grow or hire new workers.
- 69 percent of small business owners and manufacturers say President Obama’s Executive Branch and regulatory policies have hurt American small businesses and manufacturers.
- 55 percent say they would not start a business today given what they know now and in the current environment.
- 54 percent say other countries like China and India are more supportive of their small businesses and manufacturers than the United States.