By most accounts, 2019 was a great year for small businesses, and 2020 is starting off full of promise. In fact, several recent studies have found that small-business owners are overall confident about their future.
The importance of entrepreneur sentiment to the economy is clear. According to the Small Business Administration’s 2019 Small Business Profile, these businesses employ 59.9 million Americans and represent 99.9% of all businesses in the United States. With so much of the country’s economic prospects resting with this group of companies, a look into how small-business owners view their businesses and the greater economy — and their confidence levels in both — offers a valuable perspective into where hiring and investment might be heading.
According to a recent Guidant Financial survey, this view of the future is largely positive. The survey found that 60% of small-business owners felt either somewhat or very confident going into 2020, with just 19% saying they were not confident.