As a business writer AND an entrepreneur, I love to read the latest statistics on business and economic trends. As such, one of my favorite online hangouts is Discover Small Business Watch. Each month the Discover number crunchers do a survey of small business owners, and the results are often quite illuminating.
According to the latest report (August), economic confidence among small business owners in the United States has jumped to its highest level in 18 months. Discover's index of small business confidence rose to 89.8 -- which is a 7.7-point increase over the July index. At the same time, 38 percent of small business owners say the economy is getting better -- an increase of 8 points, from 30 percent in July -- and the number of small business owners who believe the economy is getting worse dropped to 43 percent, the lowest figure since Discover started its survey three years ago.
And the best opportunities for growth? Small business owners cited these businesses:
- Green industries
- Business services
- Energy
- Technology
- Financial services
- Food service and restaurants
- Manufacturing
- Retail
- Transportation
As we all know, one of the key drivers of the economy is confidence in the future. Small business is the engine that drives our economy, and when small business confidence is up, then the economy is sure to follow.
