Optimism of Small Business Owners at Highest Level in 10 Years

By Annabel Scott | August 7, 2017 | 3:11pm EDT

(Photo: I-70Scout.com)

(CNSNews.com) -- Small business owners are the most optimistic about their situation than they have been in over a decade, according to a new poll by Gallup.

Measuring in at +106 in the third quarter of 2017, the Wells Fargo/Gallup Small Business Index is up 11 points since the second quarter of 2017, making it the highest since 2007’s measure of +113.  

The respondents, based on a random sample of small-business owners nationwide, were asked to evaluate both their present business situation and expectations about their business going forward.

(Photo: DellumsInstitute) 

"The overall increase in the index this quarter is mainly the result of an uptick in present situation ratings, rather than expectations about the future," the Gallup poll report states.

"The present situation score rose from +36 in the second quarter to +45 in the third quarter."

Ten percent of business owners reported that the number of jobs at their company has declined in the past year, marking the lowest level seen since 2006. However, 21 percent of small-business owners say the number of jobs at their company has increased, which is only one point below the all-time high of 22 percent in 2007.

The top challenge small business owners say they face is issues relating to government policies, including regulations, taxes and Obamacare.

The survey was conducted by telephone interviews with 605 U.S. small-business owners in all 50 states, July 10-14. 

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