Small businesses still struggling
Cash is tighter and small businesses are still struggling, according to two surveys out this month.
A monthly survey of 750 business owners by credit card company Discover showed that confidence in the economy was down slightly in June after two months of increases. Fifty-one percent of the businesses said they had experienced temporary cash-flow issues during the month, up from 45% that had such problems last month.
The National Federation of Independent Businesses, which also puts out a monthly survey of small- business owners, said earlier this month that respondents were slightly more optimistic about the economy last month, but just barely. Business remained slow, and most owners said that poor sales were the most difficult problem they faced.
Brian Headd, an economist with the Small Business Administration's Office of Advocacy, said slow sales were a significant concern, because that means small businesses are not likely to expand any time soon.
-- Sharon Bernstein