Seven in 10 small business owners are more optimistic than pessimistic, according to the latest Wells Fargo/Gallup survey of small business owners. Eight in 10 owners described their current situation as very or somewhat good, and 84% expect their firm’s financial position a year from now to be very or somewhat good.
Access to credit was a strong factor strengthening small businesses, the survey found, with 53% of owners reporting that credit was somewhat or very easy to obtain—the highest level since 2007. Just 1% of respondents said credit availability was the top challenge they were facing.
Small business owners’ optimism aligns with their positive view of the overall economy, Gallup found, with 63% rating the U.S. economy as excellent or good. And should the economy worsen, nearly 7 in 10 owners said their businesses have the right strategy to handle economic changes.