Credit Card News
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Other » Optimism Rises for Small Businesses

Optimism Rises for Small Businesses

By
Add to Favorites:

Optimism is in the air for small businesses this season, according to the new Wells Fargo/Gallup Small Business Index, with the upswing in optimism being directly linked to feeling better about their cash flow, an integral part of growing a business.

The Wells Fargo/Gallup Small Business Index, was conducted at the beginning of the year, with its overall score rising to 67%, up 13-points from November.

“The latest Index scores show that small business owners are more upbeat about their current and future business conditions,” said Lisa Stevens, Wells Fargo’s head of small business. “Similar to what we’ve seen in some consumer confidence surveys, improvements reported in the January survey indicate the optimism of small business owners rebounded after trending downward for much of 2015. This suggests small business owners are entering 2016 with greater confidence.”

Its all about cash flow

Business optimism and cash flow are very much tied together in this study, with 60% of small businesses indicating that over the last year their cash flow was either very or somewhat good. Optimism about cash flow has not been this high since 2007.

But what about the future? Here too there is a upswing, with 66% expecting that their cash flow levels will be on par with last year for the coming twelve months, up 3%.
Cash flow was the bigger winner in this study with the other indicators showing small increases or no change at all.

Trends in EMV and Digital Wallets

The study also looked at how small business owners felt about the conversion from swipe-based cards to EMV chip-enabled debit and credit cards. They found that 48% of small business owners indicated that they had upgraded to the new technology, from 31% in the late summer.

This left a little more half of businesses having still needing to update their payment system, but 22% of these plan to do so during the next six months, and 14% will upgrade within the year. That said one in five won’t be doing it at all.

What about digital wallets? It hasn’t caught on just yet with all small business owners, but 5% are enabled to take payments from digital wallets like Apple Pay or Android Pay. That said 11% are gearing up to take digital payment over the coming year.

Add to Favorites:

Related News:

More Reload Options With American Express Serve

By Dar Dowling, Posted: December 08, 2015

Just in time for the holiday season American Express Serve cardholders will be happy to know that Amex is increasing their network of reloading locations by partnering up with Dollar General and Rite Aid. Continue reading
New Business Card from Amex

By Dar Dowling, Posted: February 02, 2016

American Express OPEN now has a new card in their lineup – the SimplyCash Plus Business Credit Card, offering small businesses up to 5% cash back on key purchases. Continue reading
Earning Plenti Points at Chili's

By Dar Dowling, Posted: February 18, 2016

Eating out at Chili's Grill & Bar just became more lucrative for Plenti members with the restaurant chain signing a deal in which they are now a partner in the multi-brand loyalty coalition operated by American Express. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Get 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the APR will be 12.24%-22.24% based upon your creditworthiness.
For Excellent/Good Credit
1% cash back on select purchases, terms apply
For Fair Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit