According to the Wells Fargo/Gallup Small Business Index, small business owners are more optimistic than they’ve been in five years. The overall index score rose from +24 in October 2013 to +45 in January of this year.
The Denver Business Journal reported that this is the highest score on the survey since the third quarter of 2008. While it remains below pre-recession levels, it showed that more than half of those surveyed indicated an increase in revenue, and nearly half expect to see further increases over the next 12 months.
While only 16 percent of businesses said that they expected to hire in October 2013, that figure has now increased to 22 percent in January. Additionally, fewer small businesses reported having trouble gaining access to credit.
The results of this survey are in line with responses that we received to our Stock Market Poll at the end of January. Our own poll showed that nearly half of those surveyed expect the market to close above 2013’s record-breaking levels.
To read the Denver Business Journal’s report on the Wells Fargo/Gallup Small Business Index, please click here.