This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Union Bank’s National Small Business Economic Survey Finds Entrepreneurs Remain Cautious Amid Increased Optimism

While most small business owners plan to play it safe and control costs after a year of increased layoffs, they also report an uptick in optimism about the direction of the economy and their companies, with slightly more owners planning to boost hiring and capital expenditures in 2013, according to Union Bank’s National Small Business Economic Survey released today.

The survey — including 200 participants statewide and 500 outside of California — found that while nearly half of those surveyed feel the climate for their small business has worsened in the past two years, a growing number believe the national and state economies are heading in the right direction and the majority (84 percent) maintain confidence in the direction of their own companies.

“This survey demonstrates the resilience and perseverance of small business owners across the nation who, in leading their companies through the ups and downs of the economy, remain steadfast in the vision for their companies,” said Union Bank Executive Vice President Todd Hollander, head of Business Banking. “Entrepreneurs have become experts at gauging the business climate and adapting their course accordingly, so it makes sense that while confident in the direction of their businesses, they are also taking cues from the economy, balancing their increased optimism with caution.”

Cautious Outlook

While more California respondents show optimism about the direction of the national economy than those outside of California, more out-of-state businesses show confidence in the direction of their state economies. Thirty-seven percent of California respondents, compared with 29 percent of out-of-state respondents, show confidence in the direction of the national economy. Conversely, 43 percent of respondents outside of California agree with the direction of their state economy, compared with 37 percent of California respondents.

Among the industries surveyed, respondents in the professional services field (physicians, certified public accountants, attorneys, etc.) are most optimistic about the direction of the overall economy, with 37 percent believing the national economy is headed in the right direction and nearly half indicating confidence in the path of their state economy.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs