Optimism among U.S. small business owners has reached its highest level since the before the recession began, according to the most recent report from the Discover Small Business Watch.
After a decline in December, Discover's monthly small business confidence barometer rose 9.4 points in January to reach 91, which is up 5.5 points from a year ago and the highest it's been since December of 2007 when it stood at 92.7.
Additionally, 31 percent of owners stated they believe the economy is improving - up from 25 percent in December. Forty-one percent claim it is getting worse, which is down from 51 percent last month.
"A cautious optimism among small business owners has emerged over the last five months with the index rising 18 points during this time period," said Ryan Scully, director of Discover's business card. "'Cautious' should be emphasized though, as over half of those business owners surveyed still rate the economy as poor."
The gains may be in response to a number of recent improvements in employment and borrowing trends. There have also been several initiatives by the Obama administration that have sought to improve ties with the business community through efforts aimed at reducing government regulations, bolstering exports among small firms and easing the burden on entrepreneurs seeking to incorporate in New York, California or any other state.
Tags : incorporation news, ny, small business management
Posted: Jan 31st, 2011