The Wells Fargo/Gallup Small Business Index plunged 28 points to -11 according to its latest survey of owners held Nov. 12 to 16. The quarterly survey asked business owners about their present situation and their expectations for the next 12 months with regard to their overall financial situation, cash flow, revenues, capital spending allocation, hiring and access to credit. More than one-fifth of respondents indicated that they expect to reduce the number of employees working at their companies next year. This is the highest percentage since the inception of the index in 2003, confirming the extreme pessimism of small-business owners. 34 percent will reduce capital expenditures and 29 percent expect a reduction in revenues during the next 12 months.
Learn more at the Wells Fargo Business Insight Resource Center.
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