Intuit Small Business Blog, by Brenda Barron on March 13, 2014
For the first time in five years, small-business owners are feeling more optimistic about their prospects, according to the recently released Wells Fargo/Gallup Small Business Index. Specifically, the index rose 21 points for the first quarter of 2014 to +45, which is the highest it’s been since the third quarter of 2008. The results are based on a January survey of 603 U.S. small-business owners.
Much of the increase in optimism has to do with the general improvement of the economy as a whole. The complete survey results [PDF] show that specific triggers of the shift include better access to credit, anticipated increases in revenue and staffing, and improved cash flow.
Of course, small-business owners continue to face some very real challenges: According to the Index, 21 percent of those surveyed say generating new business is currently their biggest hurdle. Other obstacles include government regulations, hiring, and health care.
Make Hay While the Sun Shines