Survey Reports Optimism is Increasing Among Michigan’s Small Business Owners
The report shows business owner optimism is the highest it’s been since 2012.
A recent survey shows optimism among Michigan’s small business owners is the highest it has been since the recession. The results, released by PNC Bank, indicate changing economic conditions and increased auto sales are giving Michigan small businesses hope about growth. Bank economist Kurt Rankin says 24-percent of owners interviewed last fall were pessimistic about the future.
“That 24-percent number is now down to only 13-percent, and that’s a dramatic move down. So while it may not be full steam ahead for Michigan small business owners, fewer of them are pessimistic about the coming six months.”
-Kurt Rankin
Rankin says 15-percent of small business owners expect to hire in the next six months, and about a quarter of the businesses predict pay raises. He says he expects to see continued growth in optimism when the survey is conducted again this fall.
