- Overall confidence is up: Capital One's Small Business Confidence Score tracking overall small business sentiment on the economy, hiring plans, future financial positions and recent sales, has reached its highest point since 2012.
- Revenues are increasing: Nearly half (47 percent) of SBOs reported increased sales in the past six months, up 10 points from earlier this year.
- Yet hiring plans remain flat: Plans for growth remain steady, with 25 percent of businesses planning to hire in the next six months - down two points from earlier this year. Seventy-two percent of SBOs said increases in minimum wage are not impacting business growth.
- Concerns about cash flow and tech on the rise: The number of SBOs concerned with cash flow management increased 11 points from fall 2016, while the number of SBOs concerned with keeping up with technology increased seven points from fall 2016.
- Taxes and other regulations are top of mind: Nearly a quarter (24 percent) of business owners report loosened federal and state regulations have had a positive impact on growth. Meanwhile, 37 percent of SBOs say the Affordable Care Act (ACA) has had a negative impact on business growth, and 30 percent say tax rates and laws have negatively impacted their business.
About Spark BusinessCapital One® offers a broad spectrum of financial products and services to consumers, small businesses, and commercial clients. Spark Business from Capital One offers a diverse suite of financial products, tools and services designed specifically for small businesses, including credit cards with unlimited rewards, no-fee checking and savings and retirement plans. Today, Spark Business works to address the unique needs of millions of business owners across the U.S. so they can focus on what they're most passionate about - running and growing their business. Spark Business provides tips, resources and inspiration to help your business thrive at www.CapitalOne.com/Small-Business/SparkIQ. For more information, visit CapitalOne.com/Small-Business-Bank.View original content with multimedia: http://www.prnewswire.com/news-releases/small-business-confidence-reaches-highest-point-in-five-years-300552479.html SOURCE Capital One Financial Corporation