Small Business Confidence Rises in May
According to the National Federation of Independent Business’ Small Business Optimism Index, small business owners are becoming increasingly confident. The report found small business owners anticipate improvement in their companies over the next six months.
The report found that compensation is improving across the economy, as skilled workers are slowly beginning to earn more in a highly competitive market. Approximately, a net 16 percent of businesses reported raising compensation for workers, the largest increase since September 2008.
The index increased by 2.3 points over the previous reading in April, and now rests at 94.4. This increase is significant, as it now puts the index at its highest rate in 12 months.
“This is the second-highest reading since the recession started (95.1 is the highest) and the best reading since May of last year,” the report said.
For businesses that are looking to expand and capitalize on this rise in confidence, National Funding is available for small business loans and equipment financing. Equipment leasing and financing are great options for companies, as these practices allow companies to keep working capital on hand and increase their revenues without spending large sums of money.