Small business owners are feeling very optimistic, thanks to a new high driven by the strongest local economic outlook on record. This business growth and optimism is being seen in all regions of the United States. According to a 2018 report conducted by MetLife and the U.S. Chamber of Commerce, two out of every three small business owners are optimistic about their company and the small business environment in the United States. This is a metric that’s widely used as a predictor for increased business expansion and investment.
Small business sentiment rose for the fifth consecutive quarter with a majority (62 %) of small businesses expecting higher earnings and an increase in revenue one year from now. The increase was up one percentage point from last quarter. In quarter two of 2018, 18 percent of small businesses reported increasing staff over the past year, compared to 16 percent last quarter and 15 percent this time last year. Cash flow considerations have remained stable and strong, with more than three-quarters of small business owners (79%) feeling comfortable.
This continued strong economy is great news for the 60 million American small business owners like Presents of Mine franchisees. A strong economy creates an environment where small businesses can thrive. As the U.S. economy continues to flourish, we can expect local small businesses to profit.