Confidence among U.S. small business owners is improving, according to the most recent report from the Discover Small Business Watch. The index, released Monday, grew to 87.2 in November - up three points from October and nearly 11 points from a year ago. This is also the third consecutive monthly gain - a fact that many hope will allay fears of a double-dip recession.
According to the report, small businesses' revenue concerns reached their lowest point in 17 months, with 43 percent of small business owners claiming to have experienced cash flow problems within the past 90 days.
"We see slight improvements in nearly every survey category of the index, with significant improvement in the confidence of small business owners who sell consumer goods and services," said Ryan Scully, director of Discover's business card. "Even still, there's no getting around the fact that 59 percent of America's small business owners still rate the economy as poor."
Other economic indicators such as entrepreneurial activity, patent filings and New York business incorporation have also experienced gains in recent months. But as many analysts continue to link small business activity with nationwide economic recovery, confidence among owners is seen as even more significant in determining economic outlooks.
Tags : ny, operations, small business management
Posted: Nov 29th, 2010