- Small business owners’ optimism is looking a lot
like the economy — moving along at an unspectacular
survey by Wells Fargo and Gallup shows owners aren’t
quite as optimistic as they were during the spring about
the economy but are generally confident about their
companies. The Wells Fargo/Gallup Small Business Index
registered at 59 in early July, compared with 64 in
April, an insignificant change, the bank said.
Sixty-five percent of the 600 owners in the survey
described their financial situation as good, unchanged
survey was in line with others showing a dip in optimism
about the economy, but that owners feel confident about
their companies. A semi-annual survey released by the
advocacy group National Small Business Association last
month showed nearly threequarters of the 625 owners
questioned are confident, unchanged from late last year.
Three-quarters expect the economy to be flat or
recessionary in the next year.
economy’s performance has contributed to owners’ not
enthusiastic but not morose view of business conditions.
It grew at an annual rate of 2.3 percent in the second
quarter after rising 0.6 percent due to harsh winter
weather the first three months of the year.
upbeat attitude about their companies has encouraged
more of them to borrow, according to a report released
recently by Thomson Reuters and PayNet. The two
companies saw a 9 percent increase in borrowing on loans
and leases in June. But they’re cautious in their
hiring, adding fewer jobs in July than they did during
Wisconsin branch of the U.S. Small Business
Administration reported that SBA loans as of July 30 are
up 18 percent compared to the same period last year.
According to its website, SBA provides financial
assistance programs for small businesses that have been
specifically designed to meet key financing needs,
including debt financing, surety bonds and equity