Many experts say that small businesses create most of the new jobs in America. But entrepreneurs struggled over the course of the recession as banks withdrew lending to these companies, most of which had modest balance sheets. As the economy recovered, apparently the appetite of small businesses to add workers did as well. That has ended, based on new research. And the end likely means that job growth in America faces risks.
According to a new Gallup poll:
U.S. small-business owners expect to add fewer net new jobs over the next 12 months than at any time since the depths of the 2008-2009 recession, according to this November’s Wells Fargo/Gallup Small Business Index survey. Small-business owners’ net hiring intentions for the next 12 months plunged to -4 in November, down from +10 in July and matching the previous record low recorded by the Wells Fargo/Small Business Index of -4…
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