A new survey of small businesses shows that despite a daily drumbeat of negative headlines, optimism is creeping higher.
In this survey of about 500 small businesses, taken in the last week of January by online payroll provider PayCycle, 39 percent of respondents said they were “very worried” about the economy. That’s not great news, but it’s a decline from an October survey by PayCycle, when 56 percent of small business owners proclaimed to be “very worried” about the economy.
This time around, 48 percent of respondents said they’re “somewhat worried,” compared with 35 percent in the October survey. The decline in worry is a little surprising, given that there’s been no shortage of things to worry about. In one recent example, numbers released this week from the closely watched ADP National Employment Report showed that businesses with between 50 and 499 workers shed 255,000 jobs in January. Those with fewer than 50 workers shed 175,000.
They may be less worried, but that doesn’t mean these business owners agree with Washington’s push for economic stimulus. Nearly half of respondents - 48 percent - said they’re “not at all confident” that the president and Congress will pass a stimulus that helps addresses the needs of small business.