Small business owners entered the new year feeling the most optimistic since early 2007, according to findings from the latest Wells Fargo/Gallup Small Business Index conducted January 3–9. In the quarterly survey of small business optimism, the overall index score came in at 107, up from 103 in November 2017, and the highest score since early 2007. The findings are similar to the long-running small business optimism index conducted by NFIB.
52% | Percentage of business owners reporting their revenue increased over the past 12 months. (Highest since 2007.)
66% | Expect their company revenues to increase over the next 12 months (Highest reading in the history of the survey.)
Small business owners anticipate strong revenues in the year ahead
77% | (Percentage of respondents who said they) Expect their cash flow will be healthy. (Highest reading in the history of the survey.)
38% | Expect the amount of money their business allocates for capital spending to increase during the next 12 months. (Highest reading since December 2003)
46% | Expect credit will be very easy or somewhat easy to obtain.
33% | Expect the number of jobs at their company will increase in the next 12 months,
Small business top challenges
In January, business owners were asked to identify the most important challenge facing their businesses today.
16% | (Percentage of respondents who said) Finding new business
13% | Hiring and retaining high-quality staff
10% | Financial stability and cash flow
10% | Taxes
7% | Government regulations
7% | Competition from larger corporations or the internet (7 percent)
Wells Fargo/Gallup Small Business Index Scores: Q1 2017 – Q1 2018
|Q1 2018 (Surveyed January 2018)||107||42||65|
|Q4 2017 (surveyed October 2017)||103||43||60|
|Q3 2017 (surveyed July 2017)||106||45||61|
|Q2 2017 (surveyed April 2017)||95||36||59|
|Q1 2017 (surveyed February 2017)||100||40||60|