An online survey of small business owners and equipment vendors revealed bullish optimism about the economy and increasing revenue in 2013. The survey, conducted by lending provider Balboa Capital, shows high confidence from respondents about the future of their business.
"Based on the feedback we received, many business owners are still dealing with the effects of the economic downturn, but there does appear to be a light at the end of the tunnel," said Jake Dacillo, Balboa Capital’s marketing director.
The survey results found that 72% of small business owners feel the U.S. economy is improving, and four in 10 are extremely confident about the economy. Equipment vendors are faring particularly well this year, with 58% seeing increased revenues (compared to 39% of small businesses), a sign that capital spending for businesses is growing. When asked about where they planned to increase their spending, small business owners cited expansion (34%), more marketing (21%), increasing staff (20%) and purchasing equipment (13%).
"They anticipate stability with the economy and plan to invest in their businesses during the final months of the year," Dacillo said.
The survey matches the sentiment of distributors in the ad specialty market, as Counselor’s Confidence Index (CCI) soared in the second quarter to 109.6, an increase of seven points from the first quarter reading. The CCI is a measure of industry health, as it asks distributors to weigh their outlooks for their businesses in the coming months. The second-quarter CCI, which was initially released two weeks ago, is at its highest level since 2006.