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New polling suggests ‘no growth’ economy for small businesses
By: Staff Report//September 12, 2023//
New polling suggests ‘no growth’ economy for small businesses
By: Staff Report//September 12, 2023//
Listen to this articleJob Creators Network Foundation (JCNF) has released the July edition of its Small Business IQ Poll of 400 small business employers. The Small Business Intelligence Quotient (SBIQ), an index tracking sentiment about the economy, dropped nearly a point to 54.8—the second lowest reading recorded this year.
Small business sentiment has remained relatively flat since 2021—economic fatigue that is having a chilling effect on Main Street growth. According to July’s polling, 72 percent of small employers are either pressing pause on hiring or cutting staff. Meanwhile, 67 percent are freezing wages.
The survey also indicates strong popularity for the Paycheck Protection Program (PPP)—a pandemic-era grant program that provided a lifeline to millions of small businesses. Despite recent misplaced claims about fraud, 72 percent of entrepreneurs support the PPP.
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