 |
Recently, Capital One Small Business revealed the results of its Q1 Small Business Barometer, a quarterly survey of small businesses across the nation gauging their current financial condition and business projections for the next six months. The news is good for small business.
According to the survey, nationally and locally, it appears that economic conditions are starting to improve. Here are some key conclusions from the survey.
>>> A large majority (nearly 80 percent) of the small business owners surveyed in the first quarter of this year believe that economic conditions are either improving or holding steady.
>>> 39 percent of small business owners report that their company’s financial situation is better than it was last year (an increase of 11 percentage points over fourth quarter results) while 38 percent say that the firm’s finances have been stable over the past 12 months.
>>> 70 percent of small business owners surveyed said they are able to access the credit or financing they need.
>>> 62 percent of those surveyed said they do not have plans to hire new talent over the next six months
>>> When looking ahead to potential challenges over the next six months, almost half (48%) of small business owners cite the ability to obtain new customers as one of the biggest challenges they will face, while 30 percent cite the need to maintain existing customers.
So I’d like to hear from you. Is this what’s happening in your small business world?
About Denise O'Berry
We are still seeing a large number of businesses in trouble and trying to stay afloat. We accommodate those who can’t get traditional financing and the numbers are still pretty high.
My first thought on this posting is …..
How can a small business owner say that things are looking up if they had to access credit or financing to maintain business? And according to your interpretation that is about 70% of the surveyed businesses.
How can it be a good sign for the local economy or any small business if 62% concluded they will not hire more employees, mean while it also shows that there is no room to grow the business over the next 6 month?
I wonder how many of the nearly 80% of small business owners that believe that the economic conditions are improving are actually in a seasonal field and their season just came to start?
Also the statement as to the economic conditions are steady does not reflect any improvements , it only states that things are not getting any worse than they already have been at the current time.
To summarize I would say that this post is one of the most perfect examples how to interpretive an survey they way you want to by neglecting the facts and not reading between the lines at all.
On top of all the so optimistic blabber, we all got to bear in mind, that hope and positive attitude is all we small business owners have, while we are watching many of our friends and associates going belly up.
Well how about that for a improving economy?
JK — All good points. Survey data can be interpreted from different viewpoints. I think there is good news in these stats. Appreciate you taking the time to comment.