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Survey: Small biz owners growing more pessimistic

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By The Associated Press
Wednesday, Oct. 10, 2012, 12:01 a.m.

Small business owners are growing more pessimistic.

A survey released Tuesday by the National Federation of Independent Business shows that owners became more pessimistic during September as employment and sales remained weak. The NFIB's index of owner optimism fell 0.1 point to 92.8.

The survey did have some bright spots. The number of owners who believe this is a good time to expand their companies rose 3 percentage points. And the number of owners who expect business conditions to improve in six months gained 4 points.

But the number of owner who plan to expand jobs fell 3 points, while the number who plan to reduce their payrolls rose 2 points. More than a fifth of the survey's participants said weak sales are their biggest business problem.

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