San Francisco, CA (PRWEB) March 18, 2013
Even with looming federal spending cuts, rising health care costs and tax rates, and continuing high unemployment, small business owners and CEOs are becoming more optimistic about the future of the U.S. economy according to a recent Wall Street Journal survey. The survey found that 35 percent of survey respondents expect improved economic conditions over the coming 12 months.
In November 2012, just 20 percent of the small business owners surveyed saw the economy improving over the next 12 months, while January saw 26 percent expecting an improvement in the U.S. economy.
“Small business owners are very in tune to the economy and are much more nimble than larger companies when it comes to changing course. If they can overcome issues such as access to capital, which Sunovis focuses on through quick Micro Loans and SBA loans, this may clear more way to increased optimism,” said Terry Robinson, president of [Sunovis Financial.
Robinson noted that the Wall Street Journal survey is a fairly recent addition, having begun in June 2012, and can help track small business owner perceptions and outlooks. At the inception, the survey confidence index was set at a baseline of 100. February’s confidence index was at an all time high of 101.4.
In comparison, November’s confidence index was just 83.9 and even January’s reading came in at 94.2. Based on this survey’s results, confidence is increasing rapidly among small business owners.
"Their confidence wasn't shaken by continuing public-policy debates," says Richard Curtin, an economist at the University of Michigan, who analyzed the results. "They expect the upward momentum of the economy to outweigh those concerns."
The survey was conducted in conjunction with Vistage and is conducted among small businesses owners with businesses that have less than $20 million in annual revenue.
This anticipation for increased sales and profitability translates into over half of the small business owners surveyed saying they hope to increase the size of their staff and 39 percent anticipate an increase in capital expenditures. This compares with 47 percent and 32 percent respectively who responded thusly in January.
About Sunovis Financial
Every small business is important to local communities and even more important in rebuilding the American economy. Today more than ever, small businesses need capital and assistance to thrive, and that is what Sunovis is focused on.
Sunovis is an SBA expert, and also offers Short-Term Micro Loans for small businesses, not weighted on FICO scores or collateral but on business health and cash flow.