A new national survey found that business owners expect the current recession to be short-lived, while also showing optimism is on the rise.
The Small Business Optimism Index, a survey by the National Federation of Independent Business released in June, jumped by 3.5 points in May, Inside INdiana Business reported, according to an article published on WISHTV.com on June 10. Eight out of 10 components of Index improved in May and two declined.
“While facing daunting challenges from nearly every angle, [small business owners] are still increasingly optimistic,” NFIB’s director in Indiana Barbara Quandt said, Inside INdiana Business reported. “After weeks of what has seemed like a constant stream of bad news, finally the small business community has a spot of bright news and optimism to point towards. This economic indicator will serve the Hoosier economy well as small business will once again lead us out of a recession.”
May’s index was 94.4, compared to 90.9 points in April, Inside INdiana Business reported. The report also projected
“As states begin to reopen, small businesses continue to navigate the economic landscape rocked by COVID-19 and new government policies,” NFIB’s Chief Economist Bill Dunkelberg said, Inside INdiana Business reported. “It’s still uncertain when consumers will feel comfortable returning to small businesses and begin spending again, but owners are taking the necessary precautions to reopen safely.”