There is a glimmer of good news on the economic front.
The last seven years have been tough on everyone, especially on small business. Many businesses simply did not react fast enough to the changing conditions and failed.
A good number of the businesses that have survived have strengthened since they quickly put together a game plan.
B2B CFO® partners across the country have played an instrumental role in the success of many of these businesses.
The National Federation of Independent Business’s small-business optimism index increased again to 96.6 in May, from 95.2 in April. The May reading is the highest since September, 2007, before the last recession.
What this indicates is that small-business owners have recovered most all of the optimism lost according to a report recently released by NFIB. It is interesting that the higher level of confidence is feeding into price increases.
NFIB’s survey shows that about 10% of businesses have hiked prices and another 20% plan to do so in the near future.
Demand for labor is firming among small firms and they are not done with hiring.
Also, keep in mind what is coming up this fall: the mid-term elections. One would think that an improved and improving economy would be good for some who desire to remain in office. What is it about boats and rising tide?