For an extravagant nine-course meal, given the choice, would you pay $15 a person, $45, $125, $125, same meal?

We'll explain.

I'm David Brancaccio in Los Angeles.

First, for a big company with a publicly traded stock every quarter.

They tell you how they're doing.

But for small businesses, there is no such

requirement. So there are surveys. For instance, the National Federation of Independent Business's

Optimism Index fell in October to the lowest level since April. Marketplace's Mitchell Hartman

reports. The small business majority, which primarily represents firms with one to ten employees, reports optimism is low

right now. Brian Pfeiffer is VP of research.

Business owners tend to be an optimistic bunch, but this year has been really challenging in terms

of revenue declines and expense increases.

Costs are up for tariffs on imported goods and health insurance premiums.

Meanwhile, Pfeiffer is seeing a lot of headcount decreases among Hispanic-owned businesses,

the impacts of immigration enforcement. A rosier view comes from a recent report from

small business lender Cardiff, which finds company owners.

Cautiously optimistic.

Cardiff's CEO William Stern says there is plenty of anxiety about inflation and tariffs.

Still, a lot of firms are poised to grow.

There's been a 25% increase by small business owners applying for capital, building a war chest.

They're buying materials in bulk. They're doing more marketing. Ariel Voorhees in South Burlington, Vermont,

has been growing her personal chef business called Gather Round. She hired her first employee this year.

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