Survey: Small business owners optimistic, but cautious

Written on Apr 13, 2018

Small business owners are very optimistic, but that isn't motivating them to sharply increase their hiring.

That's the finding of a survey released last week by financial services company Capital One. The survey of 500 owners taken in early February found that 62% consider current business conditions to be good or excellent. Just over half believe their financial position will improve over the next six months.

Twenty-nine percent plan on hiring more staffers in the next six months, up from 25% in a survey during the fall. That's in line with other recent surveys that showed mostly conservative hiring plans.

A report from payroll provider ADP showed that hiring slowed in March at its small business customers.

Of the owners who said they don't plan to hire, 71% said they don't need more staffers, and 21% said they can't afford to hire.

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