(StatePoint) The success of small and mid-size businesses is an important economic indicator, and new survey results show encouraging news. Despite pricing pressures, talks of tariffs and even recession, those in the business community are by and large feeling good this fall.
Click Here to Enlarge Infographic.
The most recent PNC Economic Outlook survey, conducted semi-annually, found that 55 percent of small and mid-size business owners describe their outlook for their own business as optimistic — a near record high in the survey’s 16-year history, with about a third of respondents planning to increase the size of their workforce within the next six months.
Looking further ahead, optimism does wane, with only 46 percent of respondents believing a recession is unlikely in 2020 and 34 percent believing a recession is unlikely in 2021.
While business owners are confident, there is some concern for the future; however, experts stress that U.S. economic fundamentals remain solid.