Report: Small Business Optimism Rising

Legacy Homes Home Assembly Photo by Eric MillerThe National Federation of Independent Business (NFIB) says its Small-Business Optimism Index gained 0.4 points in February to 94.3 marking the sixth consecutive month of gains. The Index is lower than that of February 2011 but is the second highest reading since December 2007, the beginning of the recession. The group includes members in the manufactured housing industry sector. “The good news for small-business owners and those watching the economy is that things are getting better. However, at this slow pace of growth and recovery, it could be years before we are again enjoying prosperity,” says NFIB Chief Economist Bill Dunkelberg. “The price of gasoline is a wild card, and rising energy costs will weigh heavy on the minds of small firm owners. The economy is holding on to tenuous gains, moving ahead in fits and starts which, hopefully, will result in future positive growth. First quarter growth will not likely match that of the fourth quarter, 2011, but it should remain positive.” Also noted in the report, ninety-three percent of small businesses say that all their credit needs were met or that they were not interested in borrowing. Thirty-one percent reported all credit needs met, seven percent reported that not all of their credit needs were satisfied (the record low is four percent, reached in 2000) and 50 percent said they did not want a loan. The report is based on the responses of 819 randomly sampled small businesses in NFIB’s membership.

(Image Credit: Legacy Homes, Eric Miller)

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