The president is roaming the country talking it up as to how much better the economy is doing and job creation is on the rise. He was at Smith Electric Vehicles yesterday and for some reason no mention of the huge government grant which this company is surviving on and that they have not done any hiring of new workers. In fact, the only jobs I am seeing are those that are backed with government dollars. I am sure Smith will makes a great product and the final cost will double that of any vehicles now on the market.
Newly minted jobs are crucial, as small business have historically been the engine that fuels economic growth, according to Bill Vernon, the state director of the National Federation of Independent Business.
“Companies under 100 people employ half the people in Massachusetts,” said Vernon. “They create the jobs. If they’re not creating the jobs and not doing well, I just don’t think the economy can grow.”
There’s evidence that life for small businesses is getting a touch easier. In May, the Index of Small Business Optimism added 1.6 points to reach 92.2, the best results since September of 2008, when there was a reading of 92.9, according to the NFIB.
The May report also notes, however, that the index is still in “recession” territory and that the entire small-business sector is in “maintenance mode” not growth — but it’s heading in the right direction.