The Job Creators Network (JCN) provided the following new research survey on the recovery rate of small businesses in the U.S. Additional information, plus MHProNews analysis will follow.
Washington, D.C. (May 27, 2021)—Today, the Job Creators Network (JCN), a leading small business advocacy organization, is launching a new monthly poll called the JCN Monthly Monitor. Pollsters, John McLaughlin and Scott Rasmussen, have teamed-up to conduct the regular survey of U.S. small business owners. Today marks the release of the inaugural edition of the survey, which gives insight into current and future economic conditions, as well as how small business owners view proposed Biden administration policies.
Questions around the economy will be reoccurring and therefore can track how small business views change overtime, but other questions will be switched out to record opinions on different policy issues or news events of the day.
According to the latest data, in general, small businesses (the ones who survived the pandemic) feel like they’re in good shape, but many are still recovering from the economic problems of the last year. Although on the path to recovery, the small business community is in a vulnerable position and are concerned about the economic threats coming from Biden administration policies. Read the topline findings here or below.
- 75% of small businesses say their current financial condition is either good or excellent; 61% believe it will improve over the next three months.
- 45% of respondents rate the small business climate as good or excellent, while 43% rate it as fair and 12% as poor.
- Many small businesses are still clawing their way out of the pandemic-induced hole. Among small businesses that were negatively impacted by the pandemic, only 6% say they have fully recovered; an additional 43% of respondents believe they will be fully recovered within six months.
- Government lifelines—such as the Paycheck Protect Program—helped many small businesses avoid the worst-case scenario. Approximately 2 in 5 (38%) small businesses took advantage of a pandemic-era government grant/loan program; 69% of small businesses employing between 10 and 19 people benefited from one.
- The top three biggest concerns for small businesses are 1.) Economy/Client Spending, 2.) General Operating Costs, and 3.) Taxes
- 35% of respondents say Biden’s economic/tax policies will help small businesses, while 42% believe they will harm them.
- 53% of small businesses disapprove of raising the corporate tax rate.
- There needs to be a lot more education on the PRO Act, small business employers don’t know what it is.
View more polling details here.
Elaine Parker, JCN Chief Communications Officer, released the following statement:
“The JCN Monthly Monitor will be the go-to source to see how small businesses are feeling across the country. As the backbone of the economy, small businesses provide a good indication of where the U.S. stands broadly. Data from May suggests that although the small businesses that weathered the pandemic are optimistic about their current financial conditions, proposed policies from the Biden administration could pose a threat in the future. It’s something Congress should keep in mind when considering components of the Biden agenda.”
Market researcher John McLaughlin released the following statement:
“The results of the JCN Monthly Monitor reveal that, at this moment as the economy reopens, small business owners are feeling pretty good. Three-quarters of respondents believe their current financial conditions are good and six-in-ten business owners say it’s going to improve over the next three months. It will be interesting to track how small business perceptions change as the economy returns to normal, but at the same time, policies of concern—such as tax hikes—are pursued by the current White House.”
Market researcher Scott Rasmussen released the following statement:
“The Small Business Intelligence Quotient is designed so that any readings above 50 represent generally positive attitudes. The inaugural edition shows an SBIQ score of 59.8, modestly positive. Small business owners today might best be described as cautiously optimistic. Things are better than they were a few months ago, but small business owners are also wary of potential storms on the horizon.”
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The video above was not part of their media release, but is a quick snapshot of JCN’s thinking on small business.
Additional Information, MHProNews Analysis and Commentary in Brief
Some of the JCN report is obviously new information in the launch of their new planned monthly survey of small business owners. That noted, several of the points raised in that survey mirror or are bookends to previously raised topics found on MHProNews. For example, Wally Comer with Adventure Homes told MHProNews that Biden policies on unemployment were making hiring new workers harder.
Regarding Biden-Harris tax policy plans, that has been quietly hailed by Sun Communities (SUI) Gary Shiffman. Why? For consolidators, looming tax hikes and other regulatory changes spells opportunities. On the flip side, that is a warning signal for independents and millions of consumers. Shiffman led-Sun is a prominent Manufactured Housing Institute (MHI) member, which claims to represent all segments of the industry, but upon closer examination is arguably a tool for the consolidators.
Shiffman’s perspective noted, as the JCN survey reflected, many in manufactured housing oppose the idea of new taxes and more regulations. The obvious case in point opposing more regulations is the independent producers trade group, the Manufactured Housing Association for Regulatory Reform (MHARR). Note that the MHARR release linked below has no known corollary from MHI. Once more, MHI claims to represent ‘all,’ but their own data reveals a steady industry consolidation in the Berkshire Hathaway era. MHI is dominated by Berkshire brands.
The JCN Foundation website says the following about their vision on the issues.
“American small businesses are under attack by over-taxation, over-regulation, and lack of access to credit. According to a nationwide poll of small business owners, the vast majority of respondents said that taxes and regulatory burdens are a challenge when it comes to expanding and creating jobs. Because of the outsized role small businesses play in the economy, creating two-thirds of new jobs and half of existing jobs, small businesses struggles are holding back the economy as a whole.
The Job Creators Network Foundation educates the public, the media, and employees about how bad government policies affect their livelihood and their pocketbook.”
That is an echo of what Carol Roth and Dr. Richard Rahn have said.
JCN was among those who promoted safe reopening of the economy in 2020.
This inspirational pull quote from the JCN Foundation website says much.
“Entrepreneurs are problem solvers. Despite regulations and taxes, we overcome, but at a cost; dealing with attorneys, dealing with regulations slows down how fast we can create jobs.” ~ Michael Holthouse, CEO of Prepared 4 Life.
Despite an apparently de facto pro-big business, anti-smaller and independent businesses stances being taken by the Resident Biden White House, there are those who are pushing back in an intelligent, evidenced-based, and pragmatic fashion. Outside of our industry, JCN and the National Federation of Independent Business (NFIB) are two of those groups. Inside our industry, the independent manufactured home producers trade group, Manufactured Housing Association for Regulatory Reform (MHARR) name and deeds speak volumes. MHARR alone among industry trade group’s has sounded the alarm about a solar initiative that has MHProNews’ research revealed has several ties to Clayton Homes and MHI.
The battle for the American Dream is on. A key part of that battlefield is the realm of ideas and communications. In MHI, there are white hat brands, but they need to be willing to speak out loud and proud in opposing the various tactics and failures that have kept the industry underperforming since the beginning of the Berkshire era. Perhaps the most relevant data point at a glance is that manufactured housing is performing at a lower level today then when Berkshire entered the industry.
MHProNews will be reporting and providing industry-leading factual and evidence-based analysis on those topics.
Stay tuned.
Market transition notice: While the layout of this business daily report has recently been modified, several elements of the basic concepts used previously are still the same. The headlines that follow below can be reviewed at a glance to save time while providing insights across the left-right media divide. Additionally, those headlines often provide clues as to possible ‘market moving’ reports.
Market Indicator Closing Summaries – Yahoo Finance Closing Tickers on MHProNews…
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Headlines from right-of-center Newsmax – evening of 5.28.2021
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- Newsfront
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Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
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- NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
- NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
- NOTE: Deer Valley was largely taken private, say company insiders in a message to MHProNews on 12.15.2020, but there are still some outstanding shares of the stock from the days when it was a publicly traded firm. Thus, there is still periodic activity on DVLY.
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Spring 2021…
Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.
Enjoy these ‘blast from the past’ comments.
MHProNews. MHProNews – previously a.k.a. MHMSM.com – has celebrated our 11th year of publishing, and is starting our 12the year of serving the industry as the runaway most-read trade media.
Sample Kudos over the years…
It is now 11+ years and counting…
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
· For expert manufactured housing business development or other professional services, click here.
· To sign up in seconds for our industry leading emailed headline news updates, click here.
Disclosure. MHProNews holds no positions in the stocks in this report.
That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports, further below. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHProNews.
Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.
