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A recent survey by National City Corp. reports that confidence about the U.S. economy has declined among small business owners. Only 68.1% of those surveyed feel confident about the direction of the economy. This is down 2.5% from the June survey. Those responding own businesses in Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio and Pennsylvania. They have annual sales of $5 million or less.
Mideast tensions and their effects on fuel prices were cited as the top reasons why the respondents had lost confidence in the economy. The possibility of escalating uncertainties has many small business owners worried about their ability to thrive in the current economy.
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