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Small businesses doing well, still worried about economy


According to recent research from U.S. Bank, 69 percent of small business owners said the financial health of their business was either "good," "very good" or "excellent." However, 71 percent said the economy is still in a recession.

This year's U.S. Bank Small Business Annual Survey also found 29 percent of respondents said they saw an increase in revenue over the past year, while fewer than half expect to see revenue grow over the next year.

"Small business owners are creating ways to succeed, despite lingering concerns about the economy," said Rick Hartnack, vice chairman of consumer and small business banking at U.S. Bank. "Business is rebounding, especially among businesses with at least $1 million in annual sales and five or more employees. For those businesses, prospects for growth are particularly strong, as are their plans to hire."

The survey revealed economic uncertainty is the No. 1 concern among respondents, which demonstrates why all small business owners throughout the United States need to invest in small business insurance in case unexpected circumstances create additional cost burdens during an already turbulent period.

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