The economy is still too too dicey for small business owners: 64% surveyed by the U.S. Chamber of Commerce said they would not be hiring for the rest of this year- 12% said they would be laying people off.
More than half of the small-business executives in the June 27-30 survey cited economic uncertainty as the main reason for holding back on hiring. About a third blamed lack of sales, while just 7% pointed to problems getting credit.
They’re also feeling pessimistic about the economy. 41% of the 1,409 people polled said the situation getting worse, only 29% thought it would improve.
And while more than half said they’re businesses were going to be OK, 84% think the U.S. economy is headed in the wrong directed. The debt ceiling fight is on their minds as well- 70% said that their businesses would be hurt if the government defaults on its debt.
Small businesses are defined as companies with fewer tha 500 workers that make $25 million or less annually. They employ about half of the private sector workforce.