Here’s a bit of good news: Recently more small business owners in the United States said they are willing to purchase advertising and new inventory. “Economic confidence” among small business owners in the United States jumped to its highest level in 18 months in August as more owners expressed faith that the economy is on the rise, according to the latest Discover® Small Business Watch (SM). The index rose to 89.8, up 7.7 points from July and the highest level since 90.9 in February 2008.
Anecdotal evidence, ranging from remarks made by shop owners in your neighborhood to the fortunes of businesses across town, may be different from these findings. But optimism can be infectious, so we’re glad to see this positive trend.
The Discover Small Business Watch, released once a month, queried nearly 1,000 Small Business Owners in June 2009 on spending intentions and capacity. The survey also asked for opinions on the U.S. economy and ratings of personal finances. The survey was conducted by Rasmussen Reports, LLC. It has a margin of error of +/- 1 percent. Read the complete report here.
Some think it’s education, upbringing, background or even their financial situation. According to a recent study by Ace Hardware, 79% of the business owners interviewed attributed their success to good ol’ initiative. The qualities that ranked high in the assessment were industriousness, motivation, perseverance, intelligence, good instincts and passion, in decreasing order.
