“Small businesses,” the president said last September, “produce most of the new jobs in this country. They are the anchors of our Main Streets. They are part of the promise of America, the idea that if you’ve got a dream and you’re willing to work hard, you can succeed.”
Unfortunately, as Jim Hoft reported earlier today, approximately 80% of those Main Street job creators aren’t hiring:
Almost two-thirds—64%—of small-business executives surveyed said they weren’t expecting to add to their payrolls in the next year and another 12% planned to cut jobs, according to a U.S. Chamber of Commerce report to be released Monday. Just 19% said they would expand their work forces.
. . . .
The Small Business Administration says small businesses, defined as companies with fewer than 500 workers, employ about half of the workers in the private sector. In the Chamber’s survey of 1,409 executives, conducted by Harris Interactive, small businesses were defined as firms with revenue of $25 million or less.
More than half of the small-business executives in the June 27-30 survey cited economic uncertainty as the main reason for holding back on hiring. About a third blamed lack of sales, while just 7% pointed to problems getting credit.
Emphasis added. Economic uncertainty? Sounds like something law professor Stephen L. Carter learned when chatting with a businessman on a recent flight. Instead of faulting Republicans for refusing to agree to a new stimulus, the president would do well to ask his agency heads to develop a friendlier attitude toward those he has identified as job creators and a less capricious attitude toward regulations on their activity.