Confidence growing among Minnesota small-business owners, according to USB survey

Tuesday, June 26, 2018

Yearly survey finds rising optimism; taxes a bigger concern in Minnesota.

Competition from big business has replaced "uncertainty" about the future as the chief concern among small business owners nationally, according to the ninth annual U.S. Bank Small Business Survey.

The survey, early in the 10th consecutive year of economic recovery since the Great Recession, found that increasing numbers of small business owners are confident and investing in their shops and services.

"Businesses loathe uncertainty so their confidence in the future is a positive sign," said Ross Carey, head of business banking at U.S. Bank.

Small businesses generally struggled with sales and then credit for expansion when business rebounded during the early years of the recovery.

The sector got its mojo back by 2012-2013, followed by a slow increase in expansion capital and hiring that has greatly accelerated in recent years.

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