Small business owners say the economy is doing worse than it was five years ago, although there was a slight increase in the number of small firms anticipating economic growth in the next twelve months, according to the results of a newly released survey by the National Small Business Association (NSBA). The 2009 Mid-Year Economic Report is based primarily on NSBA member survey data collected during the first two weeks of July. Not surprisingly, the results indicate that small and mid-sized businesses are extremely concerned about the state of the economy and the condition of their own firms.

It seems clear from these results that the current recession has made a dent in the fabled optimism of the small business owner — but not that much of a dent. Fifty-eight percent of small business respondents are still expressing confidence in their firms, compared to 62% in December 2008 and 75% in August 2008. It should also come as no surprise that 62% of respondents reported decreased gross revenues over the last twelve months, while 22% report increased revenues and another 16% say their earnings have not changed. There’s mixed news on the jobs front, with 41% of small businesses saying they have let employees go over the last 12 months (versus 9% of firms that have hired staff). One piece of unsurprising but (for President Obama, at least) alarming news is that 73% of small business owners say they have seen no direct benefit to their businesses from any of the provisions in the American Recovery and Reinvestment Act.