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Small Business, Larger Companies Agree: Economy Not Improving

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Small Business, Larger Companies Agree: Economy Not Improving
Reforms Needed to Boost Growth 

(Washington, D.C.) – While some in Washington claim that the economy is healthy, there is ample evidence that small businesses simply aren't hiring. According to the most recent small business "optimism index," more entrepreneurs say their sales have been lower in the last three months than higher, and overall more believe the economy will be worse in 6 months than think it will be better. And they are increasingly concerned about rising health care costs and excessive government regulation. As a result, just 10 percent plan to increase employment – a reduction from just a month ago. 

Unfortunately, these findings among small businesses are similar to those reported among larger companies. The CEOs of the Business Roundtable have lowered expectations for capital spending and hiring in the next six months. They call for a number of steps to encourage growth – including tax reform, immigration reform, trade expansion and long-term fiscal stability. 

Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:  

"It's time the folks in Washington stopped patting themselves on the back and did something to encourage real economic growth. Families are hurting. Small businesses and larger employers agree that their economic prospects are getting worse. 

It will take a change of direction from Washington to allow our economy to improve – a change from increasing taxes, curtailing energy development, expanding regulation, growing the national debt, and expanding government control. This is an approach that has been tried and failed. Washington interference is harming manufacturing and services, energy generation and cutting-edge industries. America has the smartest, most skilled, and hardest-working labor force in the world. They can succeed if government will simply get out of their way."

For interviews with a LIBRE representative, please contact: Brian Faughnan, 703-678-4581 or Steven Cruz, 202-578-6173