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Small business owners see scattered signs of economic improvement

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A recent survey of small business owners by U.S. Bank finds that some feel the national economy has begun to improve, however some are still hesitant.

According to the report, 78 percent of business owners felt the economy was in recession, compared to nearly 90 percent last year. In addition, 64 percent said their revenues were either improved or level with last year.

"We are heartened to see the outlook improving, but there is still work to do. Small business owners are starting to see the recessionary clouds part, but for many the recession remains," said Rick Hartnack, vice chairman and head of consumer and small business banking at U.S. Bank.

Among the many issues facing small businesses, the report found the unstable economy and low sales figures to be the most challenging. Others cited competition, taxes and federal regulations.

The web of small business regulations can be difficult to navigate for even experienced business owners. That complexity highlights the need for companies to have employment practices insurance in case they inadvertently misinterpret a ruling. 

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