Data from the Q3 MetLife & U.S. Chamber of Commerce Small Business Indexindicates that employers are experiencing high levels of confidence about the state of their local economies and their financial future. The index overall score increased yet again this quarter to 70.7, up two percentage points from Q2, marking the highest number since its inception. This indicates that nearly 71% of U.S. small business owners currently have a positive outlook on their companies’ financial future and business environment.
Results from the survey of 1,000 small business owners showed an upward trend in confidence across the board, and more than a five point uptick from Q1 2019. Not only are small business owners confident about the national economy, they are also optimistic about their local economic outlook. More than half of small business owners (56%) report that their local economy is in good health, the largest percentage since Q4 2018.
“Strong local economies have a ripple effect, and create stronger state, regional, and national economies,” said Jessica Moser, senior vice president and head of MetLife’s Group Benefits Small & Specialty Business organization. “Increased small business confidence will allow them to continue to hire and to invest in their businesses, which ultimately helps everyone.”
