An economic warning from the Federal Reserve sent small business owners into a tizzy, prompting them to cut hiring, capital spending and other growth-related activities in September, October and November.
Fifteen percent of small businesses slashed jobs by an average of 2.4 workers per firm, and only 12 percent increased employment by an average of 3.4 workers per firm. Capital spending over the last six months was down in all categories, and projections for the upcoming months remain grim.
A net-negative 10 percent of small business owners expect conditions to improve over the next six months. That’s down eight points from October. Â
