Small Business Startup News

Citibank: Majority Of Owners Optimistic For 2011

Written by Jenna Weiner
Published: 2/17/2011

A new survey from Citibank is reporting that a majority of small business owners expect the economy to improve or stay the same in 2011.

Although the year seems to have barely begun, a number of surveys are hoping to provide entrepreneurs with positive small business startup news for 2011.

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The latest offering comes from Citibank, with its small business survey showing that the majority of owners believe 2011 will be better (44 percent) or remain the same (42 percent) as last year. Only 15 percent expect conditions to get worse.

Furthermore, the number of owners who called current economic conditions excellent or good increased to 33 percent in January, compared to 24 percent in September and 23 percent in March 2010.

"Small businesses are one of the main engines for economic growth and job creation, and their increasing optimism as we enter 2011 represents an incredibly positive development," said Raj Seshadri, the head of small business banking at Citibank.

Citibank is not the only survey showing increasing levels of optimism among small business owners. Research from online small business networking community MerchantCircle saw optimism jump to 63.5 out of 100 for Q4 2010, a 5.1 percent increase from Q1 2010. 

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