It's been a good year for many small business owners, according to the latest Wells Fargo/Gallup Small Business Index survey, released this week, but long-term outlook for the segment remains hazy.
The survey, which polls business owners about their current situations and future business expectations, found that expectations for the year ahead fell by two points from the previous quarter, despite a positive overall index score of 49. The present situation scored a positive 18 and future expectations score a positive 31.
Any score over zero represents small business owner confidence in the economy.
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“The latest Index scores show small businesses have made gradual progress since the economic downturn – with modest improvement in the economy, healthier small businesses are growing revenue and have stronger cash flow today,” says Lisa Stevens, head of small business for Wells Fargo. “However, we know many businesses still face challenges in the marketplace and it's reflected in the survey results. Many continue to wait for more improvement in their businesses and the economy before they express confidence in the year ahead.”
Still, falling long-term optimism is worrisome, especially for those agents who specialize in selling to small businesses.
Click through to the next page to view an infographic presentation of the Wells Fargo/Gallup Small Business Index survey findings.
Click here to download the complete Q3 2014 Wells Fargo/Gallup Small Business Index survey results.
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