The final Discover Card Small Business Watch survey of owners of microbusinesses (companies with no more than five employees) showed little improvement in business owner perceptions of economic conditions. In March 2011, only 9 percent of microbusiness owners said the overall economy was good or excellent, as the chart below shows. This number has been stuck around the ten percent level since late 2008 and is well below the 50 percent level achieved in March 2007 before the recession hit.
Percentage of owners of small businesses with 1 to 5 employees reporting that the economy is good or excellentEditor's Picks
Scott Shane is A. Malachi Mixon III, Professor of Entrepreneurial Studies at Case Western Reserve University. He is the author of nine books, including Fool's Gold: The Truth Behind Angel Investing in America ; Illusions of Entrepreneurship: and The Costly Myths that Entrepreneurs, Investors, and Policy Makers Live By.
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I have to agree with the SMB owners here. I haven’t seen anything to inspire my confidence that the economy is on an upward path. Seems like things are just holding steady (which I’ll take over a downward path, don’t get me wrong).
These kinds of brief reports are so useful for those of us watching trends in the world of small business. Thanks for posting!