Business Owners Optimistic
The stock market has been rebounding, consumer confidence is up and business owners are expressing unusual optimism. The U.S. economy might not be past its rut yet, but Discover Small Business Watch's monthly report indicates that economic confidence among the entrepreneurs it surveys saw its biggest jump in nine months.
"Increased confidence in economic conditions is definitely a bright spot in an otherwise bleak business environment," states Ryan Scully, director of Discover's business credit card. "Small-business owners are far less bleak about the direction of the overall economy than they have been in months."
Discover's entrepreneurial confidence index rose to 78.2 in March, up from 71.9 in February. Business owners who believe the economy is improving rose to 16 percent from 12 percent last month.
Entrepreneurs who say conditions for their own businesses are improving rose from 19 percent last month to 24 percent in March. But the percentage of folks--90 percent--who rated the economy as fair or poor remained unchanged.
Discover also reported that "85 percent of small-business owners said their income would fall below $250,000 and would not be subject to a tax increase proposed in the Obama administration's new budget." And 74 percent of entrepreneurs surveyed pay their taxes as individuals instead of as businesses.
The owners surveyed ranked "self-employment tax" as their most frustrating tax burden.
Thanks for all the great information.
In hard economic times like these, its better to keep looking forward.
Jason Price
jprice@walkersresearch.com
http://www.walkersresearch.com/emaillists.asp
I work for big companies as a consultant and have just started a partnership in a small web agency that offers SEO and Web presence advice & implementation for small businesses.
I couldn't agree more with the optimism and confidence in the future shared in this article and most comments. Small businesses can go through radical changes and reinvent themselves much more easily than big corporations, which is a huge advantage in turbulent times.
In my experience, the percentage of new businesses that fail may be big, but do not include the group of entrepreneurs who are truly passionate about what they do.
http://2wtx.com
Entrepreneurs have to be optimistic now. It's really all we have left. Times like these are what make or break us. True entrepreneurs will always rise to the occasion and do whatever it takes to make sure they succeed. Afterall, 80% of small businesses fail, it takes strength.
Things will get better! I agree with this article!
www.toddnichols.com
Great to hear optimism and positive attitudes are still alive in the doom and gloom of the recession. This is what we need to lead the way back out of it.
http://www.spiritualpreneurs.com/
Good information!
After asking many people around the country how business is the part that stands out the most is their attitude determines how it goes. If people believe the economy and business is bleak then for them...it is!!
Positive attitude and motivation is key in every area of life.
Dan
http://geniesavesyoumoney.com
You must be kidding. I'm not sure where you are but the Northeast small bussiness owner is hurting.
No turn around very quickly from my perspective.
Agreed. Good to know that consumer optimism is successfully breaking through the dreary recession.
I feel the same way.
www.cklin.org
way of the innovator