Wells Fargo Survey Shows Small Business Owners Cautiously Optimistic About The Future
Written by Ken Gaebler
The latest Wells Fargo Survey shows SMB owners are hopeful for the future.
Recent reports of increased credit to small businesses have offered good news for entrepreneurs nationwide. Yet, the results of the latest Wells Fargo survey suggest the small business owners are thinking cautiously about their present circumstances.
The survey measured present situations and future expectations of small business owners. The results showed that the overall small business optimism index has decreased by one point (to negative 16) from the previous October survey.
The overall present situation score went down to a negative 29 - the lowest in the history of the index. Additionally, cash flow was rated as poor by 42 percent of the respondents.
Yet, the survey's gauge of SMB owners' future expectations reveals that they are somewhat more optimistic about the coming months. Almost half of entrepreneurs - 48 percent - say they expect to increase revenue over the next 12 months. Moreover, 24 percent expect spending to increase in the next 12 months, up from 19 percent.
These optimistic expectations about the coming months might be good news for small business owners and the overall economy. If entrepreneurs are in a better position to hire, they could help lessen the national unemployment rate, which is recently down to just 9.7 percent.
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