Business owners are more optimistic than any time in the eight year history of the U.S. Bank Small Business Annual Survey.
Times are good and they’re getting better, although there are still challenges ahead, according to the survey. Owners are seeing revenue growth, preparing for capital investments and modestly adding staff, even though 61 percent report having difficulty finding quality employees.
"Business owners are gaining confidence in the economy. For most owners, the recession is long over and now they’re making plans to expand," said John Elmore, vice chairman of Consumer and Business Banking at U.S. Bank.
The positive sentiment is exemplified by the owners’ self-assessment: 80 percent of those surveyed describe their own business as strong, another historical high for the survey. In addition, 38 percent report higher revenues, more than at any time in the past eight years.
U.S. Bank conducts the annual survey to better understand the small business climate and to create a tool that will generate conversations about small businesses with customers and others.
Stay tuned to U.S. Bank for additional small businesses stories during National Small Business Week (April 30-May 6), which is put on annually by the U.S. Small Business Administration.
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Sam Black is a member of U.S. Bank’s corporate communications team.
Posted: May 1, 2017