A new survey from Capital One says that nearly 80 percent of small business owners feel that the economy is either improving or holding steady, and entrepreneurs looking to start a corporation are encouraged by current conditions.
"While financial conditions are not back to where they were pre-recession, our survey results show that there is some positive momentum and reveal that small business owners across the nation believe things are beginning to turn around," said Robert M. Kottler, executive vice president of small business banking at Capital One.
The study also found that 39 percent of small business owners said they were better off financially than last year – an 11 percent increase over last quarter. Another 38 percent of business owners felt that their finances have been stable over the last year.
The survey also evaluated entrepreneurs’ plans for future expansion and hiring. While 70 percent of respondents said that they are able to access the credit they need, just 38 percent said they planned to hire additional workers over the next six months.
In an effort to promote quicker hiring by small business owners, President Barack Obama has called on Congress to pass a number of tax credits and incentive programs, including one that would create a $30 billion loan fund for community banks to use to increase small business lending.
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