Small Business Owners are Getting Thumped by Wuhan Virus Policies
Small business owners continue to suffer under the present economic environment brought about by the ruling class. Since the Wuhan virus outbreak, countless states have pursued harsh lockdown policies that have caused major economic dislocations.
Due to these disruptions, many small business owners are pessimistic about the current economic environment. According to a report by The National Federation of Independent Business, 88% of small business owners have been negatively impacted by supply chain disruptions.
John Carney of Breitbart News noted that “The National Federation of Independent Business optimism index decreased by 1 point to 99.1, the worst rating since March.”
“Small business owners are doing their best to meet the needs of customers, but are unable to hire workers or receive the needed supplies and inventories,” William Dunkelberg, the Chief Economist of the NFIB, stated.
North of 35% of small business owners have confirmed that supply chain shocks have negatively impacted their businesses. An additional 32% of small business owners said supply chain disruptions have moderately impacted their small businesses. On top of that, 21% confirmed a mild impact, while 10% of small business owners indicated no impact.
Small business owners hold a pessimistic outlook about business conditions in the upcoming six months. Carney outlined some of the pessimistic views small business owners have towards the near future:
The index component measuring this fell five points to a net negative 33 percent.
The shares of owners planning to make capital outlays fell to 53 percent, which the NFIB said is historically a weak reading. Three percent of owners reported high sales in the past three months, up three points from August. A net two percent expect high sales in the next three months.
Plans to create jobs in the next three months fell six points but this measure remains at a high level. Fifty-one percent of owners reported they had job openings they could not fill.
“The outlook for economic policy is not encouraging to owners, as lawmakers shift to talks about tax increases and additional regulations,” Dunkelberg observed.
Carney concluded his piece with the following observation:
The net share of owners raising average selling prices fell three points to 46 percent. Eight percent of owners reported lower selling prices and 53 percent reported higher prices. Price hikes were most common in wholesale, with 75 percent reporting higher prices. Sixty-seven percent of manufacturers reported higher prices and 71 percent of retail owners reported price hikes. A seasonally adjusted 46 percent of owners are planning to hike prices.
America’s small businesses are taking a pounding.
These disruptions aren’t random consequences of the elements. They’re the result of the Wuhan virus lockdown policies that state governments have implemented.
Republican lawmakers need to start taking a stand and make sure no more Wuhan virus-related social engineering is imposed on Americans. These measures hurt small businesses and economically displace millions of Americans. Any political party who promotes this insanity should be relieved of the burden of holding higher office.
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