![]() ![]() A net 45% of respondents reported vacancies they could not fill in the month, and 40% reported raising compensation. Historically low unemployment and aggressive wage increases at big firms have made it difficult smaller firms to attract and retain workers. In fact, the group’s measure of the availability of loans improved somewhat from a decade-low in March, but remains low. ![]() The survey suggests there was not a material change in credit conditions for small businesses in the month. The share of owners who reported raising average selling prices declined for a fifth-straight month to a more than two-year low of 33%. And as business begins to slow, fewer owners are choosing to raise prices. While a touch better than the prior month, the share is still among the smallest on record.Ī combination of elevated inflation, high interest rates, tighter credit conditions and recession concerns continue to weigh heavily on sentiment. Only a net 3% of respondents said it was a good time to expand. Fewer than 1 in 5 firms said they’re planning capital outlays – such as spending on new equipment and expanded facilities – in the next few months, the smallest share since the onset of the pandemic. That contributed to a pullback in business investment. A gauge of owners’ sentiment about future business conditions slipped to a four-month low, while a measure of sales expectations was the weakest since August. The index, which has been published in one form or another for. small business confidence fell to more than a 10-year low in April on worries about the near-term economic outlook and persistent worker shortages, but. The National Federation of Independent Business optimism index decreased by 1.1 points to 89, the group said Tuesday. The proof of this is in the latest release of the National Federation of Independent Business’ Small Business Optimism index.
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