The Business Journals...
NFIB: Small business confidence plunged in June
by Kent Hoover, Washington Bureau Chief
Tuesday, July 10, 2012 

A widely followed index of small business indicators plunged 3 points in June to 91.4, its lowest level in eight months. 

“All in all, this month’s survey was a real economic downer,” said William Dunkelberg, chief economist for the National Federation of Independent Business. 

The index, which is based on a random sample of 740 NFIB members, found that small business owners were less optimistic in June about their future sales as well as the economy as a whole. More business owners also reported that their profits were down. 

Dunkelberg said the impact of the U.S. Supreme Court ruling upholding health care reform won’t show up until NFIB’s July survey. But it certainly won’t improve the mood of NFIB members -- the organization was a lead plaintiff in the case challenging the law. 

“With over 20 new taxes contained in the law -- a price-tag of $800 billion -- and most of the regulations yet to be written ... the implications for employee costs remain unclear,” Dunkelberg said. “Uncertainty reigns supreme for much of Main Street.” 

Republicans, meanwhile, pointed to the NFIB survey as evidence that President Barack Obama is bad for small business. 

“The policies being promoted from the White House simply are not encouraging our nation’s primary job creators,” said Rep. Sam Graves, R-Mo., who chairs the House Small Business Committee. 

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