MarketWatch reported the optimism of small companies in the U.S. economy fell 5.5 points this month, following the largest-ever recorded decline in March.
“The optimism of small companies in the U.S. economy fell 5.5 points to 90.9 in April, the National Federation of Independent Business [NFIB] said Tuesday.”
“Sales expectations for the next six months tumbled 30 points to -42, the lowest level in the NFIB survey’s 46-year history.”
The numbers are better than initial expectations because of the Paycheck Protection Program, but if payout issues and limitations persist, economists project confidence to drop quickly.
“Just a few months ago, small businesses were very optimistic…Now they are trying to avoid widespread layoffs and going out of business. The government loans will help, but the key is how quickly the economy starts the long journey back to normal. Most economists think it will be a few years — a bleak prospect for many small businesses if it turns out to be true.”
That’s why we’re calling on Congress to create America’s Recovery Fund. America’s Recovery Fund will provide financial assistance to help America’s businesses retain and rehire staff, pay rent, adapt to new requirements, meet certain debt obligations, and pay state and local taxes. The Fund will include strict federal oversight and anti-abuse mechanisms.
Read the full piece click here. If you would like to learn more about the Recovery Fund, the Coalition, or to speak with the many business owners, CEOs, and employee members helping to get America back on track, please don’t hesitate to reach out to [email protected].