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St Louis Finance News: Small Business Owners Fearful of Political Climate
News Hot Line: 314-334-0210 | Floyd Tapia

The optimism index fell to the .09 point to 88.1 in July according to the National Federation of Independent Business (NFIB).

“We don’t have any confidence that the economy is going to get fixed, that it’s going to improve,” William Dunkleberg, the group’s chief economist, told CNBC.

He goes on to say that “we really crashed when it came to expectations for business conditions. Not good.”

Of the business owners surveyed, St Louis mortgage analysts noticed that only 2 percent of respondents said they had plans to create new jobs.

However low that may seem, this number actually doubled thus representing an improvement from June’s 1 percent reading.

The data went on to say that just 12 percent of small business owners reported raising average selling prices, while 24 percent said they were cutting prices.

“With no pricing power and real sales volume weak, profits are not able to recover,” the report said. “Inflation is clearly not a problem.”

The problem lies directly with the fact that owners are fearful of the political climate as regards taxation issues as well as increased costs for national health care and financial reform.

“The index is pretty much full of forward-looking components, and looking forward, not too good,” Dunkleberg said.

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When applying for any type of St Louis mortgage, call Liberty Lending Consultants, the recognized St Louis home loan and refinancing experts, at 877-334-0210 and ask for Steve Swan or Doug Stahlschmidt.

For business owners looking for small business loans and alternative financing that works, call Floyd Tapia, host of the St. Louis “Mortgage Minute” at 314-334-0210. He is a successful hedge fund originator assisting local and national business owners in getting private and public St Louis finance and commercial lending with no upfront fees.

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This entry was posted on Friday, August 27th, 2010 at 2:34 pm and is filed under st louis mortgage news. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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