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Union Bank's Latest 'Small Business Economic Survey' Finds that Entrepreneurs Are More Optimistic


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(OPEN):
LAST MONTH [JANUARY], UNION BANK SURVEYED HUNDREDS OF SMALL-BUSINESS OWNERS--THROUGHOUT CALIFORNIA, OREGON, AND WASHINGTON:  59-PERCENT SAID THAT THE NATIONAL ECONOMY IS HEADED IN THE WRONG DIRECTION--BUT 41-PERCENT SAID THAT IT'S HEADED IN THE RIGHT DIRECTION; THAT'S UP 10 PERCENTAGE-POINTS FROM LAST YEAR--AND UP 16 PERCENTAGE-POINTS FROM 2012.  UNION BANK EXECUTIVE VICE-PRESIDENT AND HEAD OF BUSINESS-BANKING, TODD HOLLANDER, HAS MORE FROM THIS YEAR'S "SMALL BUSINESS ECONOMIC SURVEY"...

(HOLLANDER):
"
SMALL-BUSINESS OWNERS FROM THE PROFESSIONAL-SERVICES INDUSTRY REMAIN THE MOST OPTIMISTIC--WITH 51-PERCENT SAYING THAT THE NATIONAL ECONOMY IS HEADED IN THE RIGHT DIRECTION.  BUT, RETAIL-STORE OWNERS AND RESPONDENTS FROM THE PERSONAL-SERVICES INDUSTRY WERE THE MOST PESSIMISTIC--WITH MORE THAN 70-PERCENT, IN EACH GROUP, INDICATING THAT THE [NATIONAL] ECONOMY IS HEADED IN THE WRONG DIRECTION.  IN TERMS OF THEIR OWN STATE'S ECONOMY, 51-PERCENT OF ALL RESPONDENTS BELIEVE THAT IT'S HEADED IN THE WRONG DIRECTION--WHILE 49-PERCENT BELIEVE THAT IT'S HEADED IN THE RIGHT DIRECTION; THAT'S UP EIGHT PERCENTAGE-POINTS FROM LAST YEAR--AND UP 15 PERCENTAGE-POINTS FROM 2012.  WE ALSO FOUND THAT AN INCREASING NUMBER OF RESPONDENTS BELIEVE THAT THE SMALL-BUSINESS CLIMATE WILL CONTINUE TO IMPROVE, OVER THE NEXT TWO YEARS.  AND, DESPITE A RISE IN WORKFORCE-REDUCTIONS, RESPONDENTS PLAN TO MAINTAIN THE SAME STAFFING-LEVELS AND CAPITAL-EXPENDITURE LEVELS--WITH MORE BUSINESSES PLANNING TO BOOST CAPITAL-SPENDING, AND FEWER COMPANIES ANTICIPATING HEADCOUNT-REDUCTIONS."

(CLOSE):
FOR MORE SURVEY-RESULTS, VISIT "UNION-BANK"-DOT-COM.



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