According to the quarterly Wells Fargo/Gallup Small Business Index, optimism in the sector during Q2/15 fell to 59, down from 64 in April and 71 in January. It marks the first time the score has fallen in back-to-back months since 2012.
Even with the declining rate of optimism, Lisa Stevens, Wells Fargo’s head of Small Business still feels that small businesses are still in good standing.
“Despite the dip in optimism the past two quarters, small businesses in general are healthier and in a better place today than a year ago,” said Stevens. “A slight decline in the Index score tells us that businesses are still facing challenges in the marketplace, yet overall, we’ve seen an upward trend in business owner confidence in their business that’s in line with the recovering economy over the last 7 years.”
The survey noted several factors that have raised concerns for small business owners including attracting new customers and finding new business (14%), government regulations (11%) and hiring and retaining quality staff (10%).
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