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Confidence Among Small Business CEOs Grew Substantially in Q4 2010
Published on Jan 10, 2011
Read 'Confidence Among Small Business CEOs Grew Substantially in Q4 2010' at 'Time to Start Up,' the small business blog by BizFilings.
A study released Thursday finds confidence among the country's small business CEOs improved substantially in the fourth quarter of 2010. The Vistage Confidence Index grew to 106.3 last quarter - up from 95.1 in the third quarter, 94.4 in the second and 93.7 in the first.
The study, which surveyed more than 1,700 small business chief executives, found that 77 percent are expecting improved revenue over the coming year, while 63 percent foresee greater profits. What's more, 54 percent plan on hiring new employees, marking the first time in three years that the survey noted the majority of respondents plan to hire.
"Nearly half the CEOs surveyed pledged their personal assets to keep their companies running, their people employed, and our economy from collapsing," said Vistage International chairman of the board and CEO Rafael Pastor. "They are the unsung heroes of our economic recovery and the brighter days ahead."
As U.S. small businesses, particularly those within the retail sector, awake from a record-breaking holiday shopping season in which consumers spent more than $32.6 billion - the most in the season's history - analysts are looking toward small business and entrepreneurial activity to help bolster the economic recovery.
Other recent surveys such as Wednesday's ADP National Employment Report, which found the addition of 297,000 private sector jobs in December, will help deliver confidence to entrepreneurs forming a company and startups looking to get incorporated.