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D.C. Small Businesses Increasingly Optimistic
Published on Feb 25, 2011
Read 'D.C. Small Businesses Increasingly Optimistic' at 'Time to Start Up,' the small business blog by BizFilings.
Small business owners in the District of Columbia are increasingly optimistic regarding economic conditions for 2011, suggests a new report released Thursday by Citibank.
According to the report, 52 percent of owners in Washington, D.C., believe this year will be better than 2010, while 37 percent think it will be relatively the same. The study also found growing optimism among professionals regarding entrepreneurship as a career choice, with 72 percent of the city's respondents saying they would recommend forming a company as a career to their children.
"Our survey reveals some very encouraging signs in the Washington, D.C., business community, as many entrepreneurs are confident about 2011 and ready to grow as the economy improves," said Raj Seshadri, head of small business banking at Citibank. "We are thrilled to see that the entrepreneurial spirit remains alive and well in our nation's capital."
The study is even more meaningful considering a number of recent studies that have denoted Washington, D.C., as an adverse environment for entrepreneurship.
In a recent ranking of the best and worst states for entrepreneurship, the Small Business & Entrepreneur Council placed the District of Columbia dead last, while South Dakota took the No. 1 spot.