Small businesses ‘scraping by’ in May, NFIB chief economist says

Small business owners felt less optimistic in May than they did a month earlier, as many are struggling to stay afloat as a result of the recent drop off in consumer spending.

The NFIB's latest Small Business Optimism Index dropped 0.3 points in May to 90.9. Although the figure only fell slightly, it does indicate that optimism among U.S. small business owners is wavering.

"Corporate profits may be at a record high, but businesses on Main Street are still scraping by,” said NFIB chief economist Bill Dunkelberg.

One of the main reasons consumer spending is down, and as a result, profits for small businesses, is that a number of Americans continue to have trouble finding employment. Many qualified individuals have strong resumes but have been turned away by employers because they haven't passed credit checks.

For some job seekers, improving their credit scores may give them the boost they need to find employment. This may be why some individuals are working with credit repair companies to help them find negative marks on their credit reports that may be unfairly hurting their three-digit numbers. Resolving these problematic items may give a person the credit score help he or she needs to be a more attractive job applicant.