Small Businesses Gaining Optimism

Aug 25, 2011
 The economic slowdown that has gripped the United States for the past few years has been especially difficult for small businesses and their fleets. But a new report shows that small businesses are beginning to look forward to more prosperity in their future.

A quarterly survey by Capital One Financial Corp. showed that 35 percent of small businesses polled in the second quarter plan to add employees in the next six months, up 6 percent from the first quarter and the highest percentage of small businesses planning to hire since the first quarter of 2010. 44 percent of small businesses said economic conditions for their business are improving, up 12 percent from a year ago.

About half (48 percent) of small business owners polled said their firm's financial position is better than it was a year ago, suggesting that the recession may finally be loosening its grip on the small business world. More optimistic outlooks in the private sector mean more money and, most importantly, more jobs.

Is your business planning to add any new employees this year? How do you feel about the future of your finances? Leave a comment and let us know.

Photo courtesy of David Beyer and re-used under the Creative Commons license.