The latest Small Business Optimism Index from the National Federation of Independent Business could hardly be more depressing. It finds that the men and women who run our 33 million small businesses and hire more than half of American workers are in a somber mood.Amazingly, small company CEOs are even more fearful of the future today than during the COVID-19 pandemic, when most businesses were shuttered. The confidence numbers have decreased every year President Joe Biden has been in office.
The NFIB data is merely a survey, and sometimes business owners and investors act differently than they say they will. But there is more real data on how small companies are expanding. "Our members feel as though Biden has declared war on small businesses," Ortiz says. He also mentioned they're worried that a second Biden term would mean higher taxes, more regulations and a continuation of high prices.
This could be the death of thousands of small, independent-owned franchises. The Labor Department wants small businesses to allow unions to run their stores. Meanwhile, Biden is happy to give a big head start in the form of billions of dollars of grants and low-interest loans for large corporations such as General Motors and chipmaker Intel so they can expand their operations on the taxpayers' dime. These corporate welfare programs tilt the playing field in favor of the sharks, not the small-business minnows.
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