Saturday, June 15, 2024

New Survey: Small Companies Anticipate Fed Fee Hikes This Yr; Are in Invoice Paying Triage; Weigh in on What 4 Extra Years of Bidenomics Seems to be Like


Moscow, Idaho (Newsworthy.ai) Thursday Might 16, 2024 @ 10:00 PM Pacific —

The brand new Might Freedom Economic system Index survey of 80,000 small companies discovered that small companies stay in survival mode, with 4 in 10 now delaying paying payments to handle money circulation. 7 in 10 have put all staffing plans on maintain, neither hiring nor lowering workers, and 6 in 10 are actually making ready for the opportunity of stagflation.

The survey, a joint venture of PublicSquare and RedBalloon.work, additionally discovered that almost half of companies “undoubtedly” or “most likely” won’t survive one other 4-year time period of a Biden presidency, the place the stark and heart-wrenching “verbatim” written solutions reveal the deep struggles many of those enterprise homeowners face.

“There’s nothing I can afford to do along with what I’m already doing. If issues don’t change, I’ll be completed,” was the reply from one enterprise proprietor when requested what modifications they’d make if Biden wins a second time period. One other replied, “There are none to make. Have needed to borrow cash & with drop in enterprise, there’s nothing extra I can do. My daughter & I work 14 hours a day.”

Key Takeaways:

  • 40% of enterprise homeowners have not too long ago been pressured to delay invoice funds with a view to handle money circulation.
  • 70% have put all staffing plans on maintain, neither hiring nor lowering workers. That’s the very best studying we’ve had over the previous 12 months.
  • 64% strongly consider the US is headed towards stagflation, and 37% now consider that the Federal Reserve will elevate rates of interest, with solely 17% believing a fee reduce will occur in 2024. That’s almost a whole reversal of February 2024’s outcomes.
  • 49% say their companies “undoubtedly” or “most likely” won’t survive one other 4-year time period of a Biden presidency.
  • 90% of small enterprise homeowners fee “management the border” as a prime precedence for a second Trump Administration.

“It’s been a troublesome 3 years for America’s small companies,” Michael Seifert, PublicSquare CEO, mentioned. “Whereas many contained in the Beltway could really feel like issues are good, that isn’t translating to Predominant Road America – the frontlines of our small enterprise financial system.”

“Similar to households all throughout the nation, many small enterprise homeowners are actually in invoice paying triage,” Andrew Crapuchettes, RedBalloon CEO, mentioned. “All the authorities studies and happy-talk from Washington DC doesn’t change that Individuals proceed wrestling with inflation, and a majority of small enterprise homeowners now predict we’ll slip into stagflation.”

Methodology:

The Might 2024 Freedom Economic system Index survey sampled opinions from a universe of over 80,000 small enterprise homeowners from all through the US. The survey fielded from April 30 to Might 10, with 754 respondents and a 4% margin of error on the 95% confidence degree.

To schedule an interview with PublicSquare CEO Michael Seifert and RedBalloon CEO Andrew Crapuchettes, contact Isaac Lopez at (208) 997–8013 or isaac@redballoon.work.

PublicSquare Is America’s largest nonwoke market app with over 70,000 companies and over 1.6 million energetic shopper members. They empower the customers to place function behind each buy, from each day necessities to non-woke eating places of their space.

Based In 2021, RedBalloon has rapidly grow to be America’s largest woke-free job board, connecting employers and workers who prioritize a constructive office tradition free from the divisiveness of cancel-culture mandates.



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