According to a recent Allstate/ USA Today survey, US small businesses are bursting with confidence touting 64% saying their businesses are doing well. This study, conducted with just shy of 3,000 small businesses (firms with 100 or fewer employees), also indicates an overwhelming sense of positive outlooks being anticipated for the year ahead, showing small businesses to be more upbeat than they have been in decades!
“While the business owners’ perceptions appear to have been brightened by the election of President Trump, who has vowed to cut taxes and regulations, they’re also rooted in improved sales and the fading of economic headwinds that lingered long after the Great Recession ended in 2009.”
All of this is an extremely encouraging economic position for businesses, allowing for more hiring and spending, making this notably a great time to own a small business. The percentage of those feeling more hopeful of the prospect of leaving their business to their children had also risen since last year as well.
“These enterprises aren’t just talking a good game; they’re opening their wallets. Thirty-four percent of those polled said they added at least one new employee in the previous three months, compared to 22% in late 2015.”
Lower taxes and fewer regulations are also helping with this latest optimism, largely in part to the assertions of President Trump and his administration. Even though there is also a lack of predictability surrounding the administration, this survey shows that small businesses continue to move forward while keeping them bright-eyed and bushy tailed for what’s to come.
All in all, we’ve been highly encouraged by studies like this showing a continually optimistic vantage-point. We also can’t help but find these views to be somewhat “contagious” in that many of our clients who leverage our strategies and mindsets of the small business owner are prospering from it all too!
If you want to hear more about the strategies the team at Tardus has collected over the years and how they can benefit both individuals AND small businesses, be sure to attend the Small Business Expo in Honolulu on May 18th where Tanisha Souza, CEO and Chief Wealth Coach, will be speaking on the topic.
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