Small businesses continued to express optimism in January that the economic recovery is at hand, according to a survey by the research foundation of the National Federation of Independent Business.
The survey reported that the federation’s optimism index dropped slightly in January, to 105.8 from December’s 106.9 reading. Despite the drop, the index held near record levels.
“Not since the beginning of a long economic expansion in the 1980s have we seen numbers like this,” said William Dunkelberg, the group’s chief economist. “The January figures have been exceeded only by those of the last two quarters of 1983 and the first quarter of 1984.”
He noted that 17 percent of the businesses surveyed say they plan to hire new workers, compared with 12 percent in December. Hiring expectations were highest among small manufacturers. Twenty-seven percent said they were planning to expand their workforces.
In another sign that owners believe the recovery is under way, 37 percent of the firms said they expect sales to rise during the year, while 34 percent reported plans to make capital investments in their businesses, Dunkelberg said.
Changes sought in EPA reporting
The Office of Advocacy of the U.S. Small Business Administration has urged the Environmental Protection Agency to revise proposed requirements for reporting releases of toxic chemicals or their disposal.
Thousands of businesses that use chemicals in their regular operations are required to file the annual reports.
The office suggested that the EPA allow more businesses to use a shorter form by expanding the definition of firms that are considered small. It also suggested that the agency consider a new form that would allow businesses to certify there had been “no substantial change” from a previous report.
“Advocacy’s goal is to improve the Toxic Release Inventory by supplementing the Form A with additional data, providing substantial burden reductions to thousands of [businesses] while still preserving TRI data quality,” the office said.
Latin American forum scheduled
Northeastern Illinois University will host the third annual Latin American business conference March 1-3.
The free conference is organized to increase the awareness of opportunities for U.S. businesses in Latin America. It will cover cross-national trade issues, winning business strategies for the Latin American market, globalization and cross-cultural management issues.
“The conference will examine how countries of the Americas and the United States can benefit from sound business practices among each other in order to secure a prosperous future for generations to come,” said Angel Monterroso, an organizer of the conference.
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