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8/9/2011 - Small businessowners more optimistic about economy


Many small business owners are more optimistic about the economy.

Despite few signs the economy is improving, a new poll is suggesting that small businessowners are cautiously optimistic that things may be about to turn around.

According to a survey conducted by U.S. Bank, only 78 percent of owners believe the economy is currently in a recession this year, as opposed to 89 percent in 2010.

"We are heartened to see the outlook improving, but there is still work to do," said Rick Hartnack, vice chairman and head of consumer and small business banking for U.S. Bank. "Small businessowners are starting to see the recessionary clouds part, but for many the recession remains."

While many small businessowners may still be struggling, the poll suggests the rate is not as widespread. Sixty-four percent said their company's earnings were higher or on par with last year, compared to 55 percent when a similar question was posed in 2010.

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