The National Federation of Independent Business is reportedly the largest association focused exclusively on the pulse of small business health and growth in the United States. It merits attention when the NFIB beams in with data spotlighting commercial activity and sentiment in that dynamic business realm.
Here’s what federation officials are currently stressing: The steady optimism widely expressed by small business principals nationally over the past couple years is beginning to wane.
We query at the Connecticut business law firm of Berdon, Young & Margolis whether that is necessarily a bad thing. Our attorneys have diligently represented legions of diverse clients over decades and know from vast experience that business cycles come and go. Although challenging metrics in the commercial universe do ultimately spell defeat for some company owners, they also bring great opportunity for many others.
What recent NFIB data most clearly reflect is a diminished optimism among a high number of small business owners. Reportedly, that is largely driven by their inability to routinely and easily secure qualified labor.
That is concerning, of course. Yet it also provides a useful spotlight that can identify new training needs and inform strategies to promote higher numbers of job applicants with relevant and updated qualifications.
A ranking economist commenting in a recent article on small business owner sentiments concerning the economy duly notes that optimism and deflated views routinely alternate in the American commercial universe.
There is opportunity for smart and proactive entrepreneurs and established company principals regardless of market-linked attitudes. Proven commercial law attorneys can provide further information.