Entrepreneurs Try Rose-Tinted Glasses
min readDiscover Small Business Watch today unveiled the results of its monthly survey of business owners and found that economic confidence is on the rebound on Main Street.
Its "economic confidence" indicator was up 10 points, reaching its highest level, at 88.5, in 14 months. It's the third month the indicator rose.
"While we saw confidence rise almost across the board, small business owners who have been open less than two years showed the most enthusiasm for the economy that we've seen in that category since June 2007," stated Ryan Scully, director of Discover's business credit card. "At the same time, the economic environment is challenging. Most owners still rate the current economy as fair or poor and continue to keep business development spending on hold."
The number of business owners who feel that the economy is improving, 31 percent, nearly doubled compared to last month. The optimism seems to be following a trend. About 32 percent of owners say conditions for their own businesses are improving, up from 24 percent last month. About 21 percent of owners say they'll increase development spending in the following months.