Getting a small business loan may still be harder than it was in pre-recession years, but entrepreneurs are reporting increased levels of optimism. According to several recent reports, small business optimism rose in July and August – a set of polls from Gallup and Wells Fargo showed small business optimism increased to its highest level since third quarter 2008, a marked increase over the last several years.
The optimism may not reflect a surge in sales, but many entrepreneurs say demand is building in their industries, possibly due to increased job security across the country.
Jim Houser, owner of Hawthorne Auto Clinic Inc., told The Wall Street Journal he attributes current success with a more robust job market.
“I think people are no longer afraid of losing their jobs…they’re more willing to take care of their cars and buy things like tires and shock absorbers,” Houser said.
Although small business owners like Houser may be experiencing an increase in optimism, overall small business confidence rates are still far below pre-recession levels. Bill Dunkelberg, chief economist of the National Federation of Small Business, said the increased numbers were a representation of entrepreneurs making the best of a bad situation rather than a serious gain.
“But let’s not get too excited,” Dunkelberg said. “The level is still well below the average reading of 100 in the prior 35 years and still half a point below the December 2007 reading.”
Small business owners who are looking to expand their businesses can come to National Funding for assistance. The experts at National Funding can provide an entrepreneur with a merchant cash advance for business to keep a company afloat in rough economic times or equipment financing to invest in new hardware to drive business forward.