The year of 2018 may be remembered as a golden age of small business optimism with the record shattering reports that continue to appear. The latest report from the Wells Fargo/Gallup Small Business Index reveals a record high index score of +118, marking the highest score in the index’s 15 year history. “This is higher than prior 2018 measures — with Quarter 2, 2018, at +106 and Quarter 1 at +107. The index now sits just above the record-high +114 from 2006.”
While many small business owners indicted a positive outlook due to improved cash flow, increased employment, and credit availability, the ultimate feeling about the future of the economy has many owners feeling extremely positive.
As for negatives, finding qualified workers still sits at the top of the challenges many small businesses face. “In the current update, owners remain more likely to say that hiring poses a greater challenge than any other single issue, with 18% citing this as their top concern. Hiring is the only issue cited by at least 10% of owners.”
The index score was based on interviewing conducted between July 11-18, 2018.