Many small businesses are seeing a new trend. Usually, the summers tend to be slower for many businesses because people are either just not spending the money or they are on vacation. This year, small business owners are cancelling their own vacations because the orders are rolling in.
While the small business index is not as high as it was before the recession, the score is the highest that it has been since 2008, according to Gallup. This, of course, is causing small business owners to be much more optimistic than they have been in years.
This optimism is a great motivator in itself. It is human nature to want to work harder when you start seeing the fruits of your labor. While a strong surge in business would seem to be the catalyst for great vacations and outings, it doesn’t always work that way for the small business owner. Small business owners are very hands on and want to be in the mix while the business is gaining that much needed momentum.
Spending trends have been building over the last two years. Vendors of all sizes have noticed that consumers are becoming a lot more liberal with their wallets. There is not one niche of business that is experienced an uptrend. The positive results seem to be carrying over into all kinds of business.
Small business owners are still facing challenges such as acquiring lines of credit. However, with such a positive surge of business, even that area has reportedly gotten better. Of course, the more money that a business makes, the easier that it is to get credit.
The growth of small business is important in a growing economy because this growth creates jobs and it creates a healthy economy. Many business owners decided to open their businesses because they were not finding the job security in larger corporations anymore. The key is longevity and paving a road to financial security. While economic confidence is slightly down compared to the last two months, consumer spending is up.
The results of the Gallup findings were gathered through taking a poll of businesses that have less than $20 million in annual sales. The businesses that were polled are all over the nation and not located in just one geographic area. If these results are an indicator of future growth, this coming shopping season may be the best that has been seen in years.
Photo credit: Independent We Stand
