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Small business optimism at highest point. Says Wells Fargo

Staff Writer |
Small business owners are the most optimistic they have been since January 2008, according to the latest Wells Fargo/Gallup Small Business Index.

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In the quarterly small business survey, which measures the optimism of small business owners, the overall Index score increased significantly to 80 in November, up 12 points from July and up 26 points from a year ago.

This represents the highest optimism reading since January 2008 when the Index score was 83, and the largest quarterly increase in a year. A major driver behind the increased optimism is how business owners are feeling about the year ahead.

Forty-five percent say they expect the operating environment for their business will be better in 2017. The increase in small business optimism was largely driven by business owners’ expectations that their finances will improve in 2017.

In the November survey, almost half (44 percent) of small business owners surveyed said they expect credit will be somewhat or very easy to obtain in the next 12 months, up from 37 percent in July.

This represents the highest reading on this measure since January 2008 when 48 percent of small business owners said credit would be somewhat or very easy to obtain over the next 12 months.

When asked if they were planning to apply for any new credit products for their business in the next year, 14 percent of small business owners said they were, up slightly from 11 percent in July.

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