Small businesses gaining optimism
The economy is on the upswing, if the attitudes of small business owners are any indication. According to the April Discover Small Business Watch, optimism among small businesses rose 10 points to 88.5 percent—the highest level since February 2008.
April marked the third straight month that business owners expressed confidence in the economy, according to the report, which is based on surveys of 750 small business owners across the country. The number of entrepreneurs who believe the economy is improving jumped to 31 percent—up from 16 percent in March. The report also found that 60 percent of small business owners say they haven’t experienced significant cash-flow problems during the past 90 days.
But not all of the results showed encouraging signs. Ninety-one percent of small business owners still characterize the economy as only fair or poor. Forty-six percent say they will cut spending, while 30 percent say they will make no financial changes.
Click here for more insight and advice relating to practice finances.