Capital One Small Business Barometer Increases 15 Points In First Quarter
Written by Ken Gaebler
Small Business Barometer notes 15 point increase in optimism in first quarter of 2011.
In preparation of the Bureau of Labor Statistics' official employment statistics for April, numerous surveys have come out reporting small business news, including increases in lending, such as Monday's report from Intuit, and hiring.
Adding to the mix is Capital One Bank's Small Business Barometer for the first quarter of 2011. According to the research, the number of small businesses that believe economic conditions are improving jumped 15 points from the fourth quarter of 2010, coming in at 41 percent.
This number was potentially bolstered by improvements in areas such as financing in which 85 percent of respondents said their credit needs were being met, up seven points from the prior period.
"Our first quarter survey results suggest that many small businesses in the U.S. are on increasingly solid ground and, while we are still seeing businesses taking a cautious approach to spending and hiring, overall business conditions appear to be improving and their economic outlook has been growing more positive over the past two quarters," said Pete Appello, executive vice president of small business banking at Capital One.
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