Optimism still high, but a bit tapered
The Small Business Optimism Index, maintained by the National Federation of Independent Business, eased in February from the record highs it had been recording.
The index dropped to 102.6, down 3.2 points from January. Despite the drop, it was the 10th month of readings above the 100 mark since last August and a sign of sustained growth in economic activity.
The index returned to October levels, suggesting that first-quarter growth, especially in employment, may not be as strong as anticipated a few months ago, according to William Dunkelberg, chief economist for the federation.
Despite the easing, 46 percent of the respondents to the survey said they are looking for employees, down from 51 percent, with 13 percent saying they planned to increase employment this year at their firms. Twenty percent said they have openings that they “are not able to fill right now,” an increase of 1 percent from January.
Sam’s Club plans insurance offering
Sam’s Club, the nation’s largest warehouse chain, plans to begin offering a group health insurance plan to small businesses–a move that could allow more owners to provide medical benefits to their employees.
The group plan initially will be available to Sam’s Club members in Illinois, Wisconsin, Indiana, Iowa and six other states.
Access to affordable health insurance has been one of the highest-rated problems cited during the past three years by small-business owners in various surveys conducted by the government and private business groups.
U.S. agency starts Web resource
The Department of Labor has launched a Web site designed to assist small-business owners seeking to establish a workplace free of alcohol and drugs.
The Working Partners for an Alcohol- and Drug-Free Workplace (www.dol.gov/dol/workingpartners.htm) provides free resources, material that assists employers in developing programs, and tools designed to educate employees about the dangers of alcohol and drugs.
Harris speeds up funding for cards
Harris Bank is offering small-business clients next-business-day funding for processed credit card transactions, a service that has long been available to larger customers of many banks.
The service will be available through Harris’ Merchant Services and its partner, Moneris Solutions, an electronic transaction processor.
Next-day funding of credit card transactions allows business owners to improve their cash flow earned through credit card sales. Typically, it takes two to three business days for small-business transactions to be processed.
