Business Barometer Survey Shows Q2 Weakness
Worse results in some categories, calmness in others
The results of the Capital One Small Business Barometer survey have been released, and they’re not altogether positive. Between the first and second quarters of this year, some small business owners lost confidence in certain aspects of the economy and their companies.
Capital One said in a formal statement, “In the first quarter, 39 percent of small business owners surveyed said that economic conditions for their business were improving, but this number dropped to 32 percent in the second quarter of this year.”
Also, “Only 26 percent of small business owners surveyed say they plan to add employees to the payroll over the next six months, down 6 percentage points since last quarter but consistent with results throughout 2009.”
The news isn’t all bad, though, as other figures seem to be stabilizing. Compared to one year ago, for example, fewer small businesses saw their finances worsen in the second quarter, and more small businesses saw their finances improve. Plus, fewer small businesses expressed concerns about credit and financing.
We also have something a little bit positive to report insofar as the Dow hasn’t crashed today; it’s just down 0.11 percent at the moment.
Let’s hope those last few facts mean the second part of a double-dip recession isn’t in the cards. Or that it’s at least on the mild side of things if it must occur.