According to the PNC Economic Outlook Survey, small businesses are upbeat about the future of the economy. "The fall survey indicated that 71% are optimistic about the national economy — the highest since 2005 and up from 55% in the spring. About 77% are optimistic about their local economy, the highest since 2014.“
Since the 2009-10 recession, the American economy has had a major bounce back in almost every industry. For Michigan, the automotive sector’s record sales have led to a strong rebound for cities like Detroit. Although a tightening is expected within the industry, small businesses are still enjoying the success. "Michigan business owners are optimistic, so much so [that firms] are planning to hire workers. About 24% are expecting to add to their payrolls compared to 18% in the spring survey.”
Industries such as retail are expecting a bit of a dip as consumer habits have changed since the recession. Despite that, most organizations agree that for now, the economy seems to be on the rise. Unfortunately this may not last depending on the aftermath of the Presidential election as many fear consumers will be angry with the results and not participate in the economy..