Small Business Owners Are Optimistic - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most 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 » Small Business Owners Are Optimistic

Small Business Owners Are Optimistic

Small Business Owners Are Optimistic
April
12
The content is accurate at the time of publication and is subject to change.

Small business owners are feeling positive about sales, as well as the economy and their future, according to Capital One’s new Small Business Growth Index. Women and millennial small business owners lead the way having high expectations when it comes to their financial future with 47% of women believing they will be doing better financially in six months, up 13% from last year, while 73% of millennial small business owners feel the same way – outdoing their older counterparts.

The index found that 50% of all owners chose either good or excellent as a response when asked how their business is doing right now, which is up 41% from last year. Another 41% also believe that economic conditions are set to get even better over the next six months. This is the biggest upswing in expectations since the spring of 2012.

Feeling optimistic but unwilling to spend

While small business owners are feeling good about the economy and their future, they are reluctant to invest in their businesses right now with 67% indicating that they are not planning on increasing hiring and 66% have no plans to increase their marketing spend.

Technology can be an important part of doing business, but here too small business owners are hesitant to invest, with 62% planning on sitting tight when it comes to tech spending for now.

When asked what factors they think will impact the future of their businesses, six key factors emerged, including:

  • Taxes (50%)
  • Managing cash flow (32%)
  • Keeping up with technology (30%)
  • Minimum wage increases (22%)
  • Access to capital (16%)
  • Immigration reform (9%)

The regional divide

When looking at various regions in the United States they found that small businesses owners in the South and Northeast are feeling more hopeful than their counterparts in the Midwest and the West, and 57% of small business owners in the Northeast and South believing that improved financial conditions are on the horizon, while just 45% in the Midwest feel the same way and 42% in the West.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Economic Optimism on the Upswing
Economic Optimism on the Upswing

Posted: March 21, 2017

Economic optimism is high for U.S. finance executives, according to a new study by American Express and Institutional Investor Thought Leadership Studio. Continue reading
New Credit Card from Santander Bank
New Credit Card from Santander Bank

Posted: July 18, 2017

Santander Bank has added the Ultimate Cash Back Credit Card to their portfolio, with the new card offering consumers 1.5% cash back on everyday purchases, whether they are pumping gas, buying a coffee or booking a vacation. There are no... Continue reading
Chase Freedom Categories for January Unveiled

Posted: December 17, 2018

With the Chase Freedom credit people earn 5% cash back in three bonus areas per quarter, and they have just announced the offerings for the next quarter. Cardholders will earn enhanced rewards when they pull up to the gas station, make ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay
For Excellent, Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!