How confident are American small businesses, really?
Business owners are reluctant to put their money where their mouths are
Small business optimism as measured by the National Federation of Independent Business stands at all-time highs. But optimism and capital commitments are two quite different things.
The percentage of respondents to the NFIB survey who said they planned to raise capital spending rose from 50% to 60% during the past two years. But only 33% of respondents said that they actually did increase capital spending.