Small Business Finance News

Small Business Confidence Rises In July

Written by Jenna Weiner
Published: 7/29/2009

Small business confidence rose in July, as SMB owners reported more optimism about the economy and their budgets.

The Discover Small Business Watch had encouraging news for small business owners, policy makers and consumers alike, with reports that small business confidence - one of the most important barometers of the national economy - posted encouraging results this month.

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The Discover Small Business confidence index rose to 82.1 in July, up from June's reading of 80.9.

The survey reported that 30 percent of small business owners believe the economy is improving - up from 26 percent in June - while the number of small business owners who believe the economy has worsened dropped 7 percent from the previous month, landing at 50 percent.

The survey also found that optimism is not limited to the national economy, but to Main Street performance as well; 29 percent of small business owners believe economic conditions for their business will improve, up from 25 percent in June.

Furthermore, the number of small business owners who are planning to cut spending on business development is down 2 points to 49 percent, marginally higher than the 46 percent who plan to increase or maintain spending.

The performance of the small business community not only measures the nation's economic well-being, but determines it - the Small Business Administration reports that small businesses created 78.9 percent of new net jobs in 2005, the most recent year for which data is available.

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