Small Business Confidence Rises for Second Consecutive Month
DIscover reports that "economic confidence among small business owners rose for the second consecutive month, although concerns about being able to pay their bills jumped significantly in July as measured by the latest Discover Small Business Watch. The index rose to 82.1, up from 80.9 in June."
But the details of the report indicate small business owners are "cranky" about a number of issues! For example, "Cash flow concerns in July hit the highest level in the Watch’s three-year existence. More than half of small business owners, 53 percent, say that in the past 90 days they have encountered temporary cash flow issues that caused them to hold off on paying some bills, up from 42 percent in June."
They also strongly oppose proposals making healthcare for employees mandatory and more disapprove than approve of Obama's handling of the US economy.
“Although they seem to have a gradual sense that things are improving in the economy, small business owners are still hurting for profits,” said Ryan Scully, director of Discover's business credit card. “They continue to take home less, more of them are borrowing and the majority have not increased prices in the past six months to reflect higher costs of doing business. We still don’t have a definitive sense whether small business owners will be the ones leading us out of this recession or riding the tailwinds.”
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