Thousands of small-business owners say they are optimistic
Although a large number of small-business owners across Wisconsin are unsure what the future holds, a majority say they are optimistic about the future, according to a recent survey by NFIB/Wisconsin, the state’s largest small-business advocacy group.
When asked for their overall outlook in 2002, 53% said they were optimistic, and only 19% said they were pessimistic, said Bill G. Smith, state director of NFIB/Wisconsin. “But almost 30% of small-business owners are undecided what this year will hold,” he added. “They are probably undecided because the economy is not as robust as it was several years ago. We are facing a small recession, and unemployment has increased in every county in Wisconsin. But a strong number of employers believe business will turn around, and they are confident that they will be able to keep their doors open.”
Smith said when asked how they rate Wisconsin’s small-business climate, 56% said it was “fair.”
“The outlook on Wisconsin’s small-business climate has plummeted almost 30% in the last three years,” Smith said. “Almost 56% of small-business owners say the business climate is ‘fair.’ Not ‘good.’ Not ‘excellent.’ Just fair. But there is good news, because the majority of our members are optimistic about the future economic climate.”
Nationally, NFIB conducts a similar survey every month. In February, the Small Business Economic Trends report showed optimism slightly decreasing, but a net 38% of small-business owners expect the economy to be better in six months, sustaining the high level of optimism that began in the fourth quarter of 2001. “Wisconsin’s small-business owners are more optimistic and confident that the business economy will pick up, than other business owners across the nation as a whole,” Smith said.
“Small-business attitudes have always been a strong and consistent indicator of future economic trends,” he added. “Although 30% of members were uncertain about the future, the fact that the majority were optimistic about their future in Wisconsin would suggest that the state’s economy will continue to show improvement throughout 2002.”
April 12, 2002 Small Business Times, Milwaukee
