Confidence Slips for Entrepreneurs

A healthy dose of confidence is one of the most important traits that any entrepreneur can have -- and unfortunately, it appears to be waning in the U.S.

A new Gallup study -- of more than 4,000 entrepreneurs over the last five years in the U.S., Germany and Mexico -- validated a bit of common sense when it recently identified 'confidence' as one of the ten most important talents that successful entrepreneurs possess.

Meanwhile, the latest Small Business Optimism Index from NFIB showed a drop from the previous month. The Index has made a slow (and unsteady) climb since the bottom dropped out in 2009, but it still sits well below the pre-recession average (from 1973 - 2008).

The dip was primarily due to decreases in job openings and planned expansion -- both down 5 points. The Index also reported declines in plans to increase employment, expected sales, anticipated credit conditions and earnings trends.

The takeaway for policymakers? Entrepreneurs surveyed pointed to government regulations as the greatest impediment and worry, followed closely by taxes.


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