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Discover Small Business Index Reveals Improved Confidence in November
Published on Nov 30, 2010
Read 'Discover Small Business Index Reveals Improved Confidence in November' at 'Time to Start Up,' the small business blog by BizFilings.
The most recent report from the Discover Small Business Watch shows signs of improved confidence among U.S. small business owners. The index, released Monday, rose to 87.2 in November - up three points from October and nearly 11 points from a year ago. The index also marks the third consecutive monthly gain.
In addition, small businesses' concerns over revenue reached its lowest point in 17 months, with 43 percent of small business owners claiming to have had cash flow issues within the past 90 days. This number is down from 46 percent in October and as much as 53 percent in August.
"We see slight improvements in nearly every survey category of the index, with significant improvement in the confidence of small business owners who sell consumer goods and services," said Ryan Scully, director of Discover's business card. "There would appear to be some measurable hope for the holidays that business will improve."
Despite improved confidence, the majority of small business owners still rate the economy poorly - a condition that will likely remain so for some time.
However, other indicators of small business activity such as patent and business filings have shown steady improvements in recent months, with patent activity seeing significant growth every year since 2006.