A new survey from Bank of America finds that small business owners are more confident in their local economies than the national economy overall. And as they see growth in the local economy, they will grow their businesses.
The survey, of 1,300 small business owners, reveals that 42 percent of respondents are more confident in their local economy vs. 35 percent in the national economy. An even bigger percentage — 69 percent — say their local economy is important to the overall success of their business.
“Overall, we see an improvement of confidence among small business owners,” said Robb Hilson, Bank of America small business executive, during a conference call on Thursday about the survey. “Arizona, the Inland Empire, Las Vegas — there are still concerns there. But in spite of the challenges, there is growing optimism among small business owners.”