Small Business Confidence Remains Weak
Not much has changed. Small business owners continue to remain apprehensive regarding their long-term success and the health of the overall market. A recent poll conducted by Wells Fargo and Gallup, which surveyed over 600 small business owners, revealed that entrepreneur’s in the United States remain hesitant and unconfident in their hopes of turning profits and succeeding in the long term.
This outlook represents an unchanged attitude; small business owners remain as confident as they did at the end of the recession two years ago.
The survey shows that business owner’s post-recession confidence peaked in the beginning months of this year. Although these surveys do not serve as an absolute measurable, they offer insight on how a business owner feels about their own company’s prospects and the macro economy in general.
The poll revealed that small business owners’ cite credit problems and the inability to secure financing as the main impediments to success. 22% of small business owners cited taxes and government regulations as the most significant problem.