Survey: Young small business owners bullish on ’15
Confidence levels break down along generational lines, with those levels being particularly high among millenials, 82 percent of whom said their local economies would improve over the next 12 months and 74 percent of whom said the national economy would improve during that period. Fifty percent of so-called Gen-Xers and 41 percent of baby boomers believed their local economies would improve over the next year, and 45 percent of Gen-Xers and 35 percent of baby boomers said the national economy would improve.
What this means
The relatively high level of confidence concerning local economies combined with a notably lower level of confidence concerning the national economy seems to reflect the findings of the National Federation of Independent Business’s Small Business Optimism Index, which NFIB Chief Economist Bill Dunkelberg described in a press release as a “mixed reading,” noting that while small business owners were making capital investments and filling job openings, they could not “anticipate a better economy. Basically they’re preparing to taxi the runway but they don’t expect to take off anytime soon.”