Optimism among small business owners across the U.S. has hit a 10-year low after the "Optimism Index" decreased again in April, according to the National Federation of Independent Business (NFIB). The dip in confidence this past April was the sixteenth consecutive month below a 49-year average, the report states.
The NFIB Research Center has collected Small Business Economic Trends Data since 1973, drawing a sample from their membership.
The most recent survey showed a month-to-month confidence decrease in seven of the ten optimism question asked. Current inventory availability and expected higher sales were the two largest dips in confidence. Positive outlooks were up in categories, including job openings and expected credit conditions.
"Twenty-three percent of owners reported that inflation was their single most important problem in operating their business," the survey summary states.