In a recent Gallup Poll, small business owners are more optimistic about the future than they have been in over a decade.
As per this poll, the job creation is up at +37, which is another high and good news for all those seeking employment opportunities.
business owners were asked to answer a series of questions about the current state of their business, and if they feel optimistic about growth in the near future. The poll results were unambiguous and require no interpretation – a strong majority of small business owners are running strong businesses, and they see continued growth and success right around the corner!
As per the Gallup’s statement, “The overall increase in the index this quarter is mainly the result of an uptick in present situation ratings, rather than expectations about the future … The present situation score rose from +36 in the second quarter to +45 in the third quarter.”
Furthermore, 21% of small businesses answered that they were larger now than they same time last year – utilizing more labor, more resources, and offering more products. Meanwhile, only 10% said that business had declined over the course of the previous year. This is a banner achievement for the economy, this is the lowest percentage ever to have said that business was in decline, hence the majority is positive about the job scenario in the prevailing market, and is even more optimistic for the future.
Additionally, per another Gallup Poll, job creation was at an all-time high this past July. Gallup calculates this measure by scrutinizing the job market, and examining if the employers were hiring, if the business operations were being expanded, or if the employers were laying of their workforce. Almost half of employers – 47% – were reported to be hiring, or plan on hiring in the near future. By comparison, a mere 10% of employers questioned said that they were either reducing or were being forced to reduce employees.
As per the poll, “Gallup’s job creation index has been at or near its highest point over the past five months since Gallup began tracking the measure in 2008 … This comes as the U.S. unemployment rate and underemployment in June—the last month for which government data are available—remain low”
In other questions throughout the poll business owners shared their concerns and stated that their biggest challenge was government red tape – high taxes, massive healthcare costs, and strict regulations.
In another statement by Gallup, “Owners in previous research expressed optimism that the new presidential administration would help them address these concerns—including taxes and the burden of government … So far, the trend data on the open-ended most-important-challenge question do not show an appreciable decrease in those citing government as their greatest challenge.”