The March National Federation of Independent Businesses (NFIB) Index of Small Business Optimism declined 1.3 points to 89.5.

In the March report, more than three-quarters of business owners surveyed reported that they expect business conditions in six months to remain the same as they are now or worse. 

"It's more obvious every month that what's happening on Wall Street is disconnected from what's happening on Main Street," said NFIB Iowa State Director Kristin Failor in a statement. "Small businesses are still fighting against strong headwinds despite record profits for the big corporations."