Thanks to growing economic uncertainty, small-business confidence has fallen to a two-year low, according to new research.
Some 1,700 small business CEOs surveyed in September predict weak economic conditions to carry on in the year ahead, says the Vistage CEO Confidence Index, a quarterly report.
The confidence index was 83.5 in the third quarter of this year, down 20 per cent from 105.2 in the first quarter. (The index was 92.9 in the second quarter.)
The major reason CEOs cited for their pessimism? Inadequate demand for their products or services. They also fingered added regulatory burdens and expected increases in health care costs.
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