Small business owners see promising future

Small business owners see promising future

While the economy slowly recovers, a new survey has found that small business owners feel better times are on the way.

In U.S. Bank’s 2010 Small Business Annual Survey, most small business owners reported that their revenues were either up or had remained stable compared with last year. Looking ahead, 47 percent expected that their revenues would increase next year.

“There is no question that this sector will be central to our economic recovery. Taking the time to listen to their perspective and understand what motivates them is essential to providing the financial, legislative and moral support they need to thrive,” said Rick Hartnack, vice chairman at U.S. Bancorp and head of consumer banking.

In addition, nearly two-thirds of respondents indicated that they felt their company was financially healthy, despite the current economic conditions.

That confidence can also be reflected in the faith that consumers have in small businesses. A recent Gallop poll found that 66 percent of people had either “a great deal” or “quite a lot” of confidence in small business – the second-highest rating of all the 16 institutions the survey examined.