Money isn’t everything: small business owners less optimistic
June 24, 2008 by ShannonCherry
Filed under Business
It seems like they might be right when they say “money isn’t everything”.
The Wells Fargo/Gallup Small Business Index Survey was started nearly 5 years ago. It basically surveys the optimism of business owners like you every quarter.
The latest statistics show that small business owners are the least optimistic about the ecoomy they’ve been since the survey was created. Not only did the score drop 38 points, but also current conditions scored an 18! According to the survey, a score of 0 would mean that there were an equal number of pessimistic and optimistic respondents for your company. A 50% drop is pretty big, especially when you note that they surveyed 600 small businesses.
Funny thing is, even though optimism is at an all time low, everybody’s still pretty happy. 86% of the same respondents are happy/satisfied in their positions, and 94% of which are feeling “successful”.
Usually I’d say keep your head up, but apparently you already are!
That actually doesn’t surprise me. Entrepreneurs usually feel this way because of personal finances which are tied in the business. Right now, the mortgage incident really affected the business, sometimes more than the owner.
The financial outlook doesn’t look very good for the US and it is affecting us too in Canada.