April 14 – A survey of small business owners found that optimism is being translated into more spending and hiring. With consumer confidence hitting new highs, small business owners continue to hope that their optimism will be rewarded with performance, according to the National Federation of Independent Business, which conducted the quarterly survey of its members.
The report also found 4 percent of owners reported that all their borrowing needs were not satisfied, up 1 point and historically low. Thirty-two percent reported all their credit needs were met (up 2 points), and 52 percent explicitly said they did not want a loan.
Business owners reported that compensation rose 2 points to 28 percent, which was one of the best readings since February 2007 albeit falling short of the recovery record level reached in January.
“Owners complain at recovery record rates of labor quality issues, with 85 percent of those hiring or trying to hire reporting few or no qualified applicants for their open positions,” said the authors of the report.