Nearly 70 percent of business owners don’t plan on hiring

Individuals looking for a job received some bad news recently, as a new poll of more than 1,000 business owners indicates nearly 70 percent do not plan to hire in the next year.

Sixty-nine percent of small business owners surveyed last month said they do not plan to expand their payrolls, according to a survey conducted by financial services provider The Small Business Authority.

Company CEOs were also questioned about how they felt regarding the vitality of their business within the next several months. Fifty percent said they were pessimistic about the future, while 33 percent indicated they were optimistic. This may explain why 30 percent of business owners have raised prices on their goods and services, compared to 17 percent who have lowered them, according to the poll.

Given businesses' reluctance to hire, it may be particularly important for consumers to maintain a clean credit report so they can purchase things at a low rate of interest. A credit repair company may be able to provide consumers with tips for how to raise their three-digit scores.