46% of Small Business Owners Say Consumer Confidence the Most Important Economic Indicator

According to a recent survey by business payments company Bill.com, Consumer Confidence is the number one factor SMBs cite as the key financial indicator impacting their business. Nearly half (46%) of small businesses say Consumer Confidence has the most impact in their business.Other economic factors small and medium-sized businesses commonly cite as impacting their business the most include Tariffs, Interest Rates, and Tax Policies.“What doesn’t change is the profound effect these factors can have on businesses’ financial health,” writes Tanya Roberts, VP of Corporate Marketing at Bill.com, in a blog post announcing the survey findings. “They [the economic factors] impact cash flow – which is always a key determinant of whether small and medium-sized businesses can pay and get paid on time.”