A new study by Newtek Business Services, The Small Business Authority, found that 69 percent of independent business owners do not plan on hiring any new employees within the next year — or even two years.

The SB Authority Market Sentiment Survey provides a monthly window into the concerns of independent business owners. It is based on a poll of approximately 1,100 respondents.

In addition to the lack of optimism about hiring, business owners have a generally pesimistic outlook about the future of their businesses. In fact, several business owners during the last 12 months have raised their prices or maintained them to fight off the effects of inflationary pressures eroding their margins. In an economy described as stagnant, business owners need to improve their cash flows and bottom lines while continuing to look towards the only segment of their business where the market enables them to improve their cash flows.