These days, you usually don’t hear “growth” and the “U.S. economy” in the same sentence--or even in the same paragraph for that matter. That is, unless you happen to be talking about small business.
According to a recent survey released as part of the Manta SMB Wellness index, small business activity increased 27% in the second quarter of 2011 versus the same quarter last year. Possibly even more surprising, 37% of small business owners surveyed indicated they expected their profits will actually increase this year.
The results released by Manta, the largest online community dedicated entirely to small business, provide a glimmer of hope for an economy that continues to sputter, and sputter, and sputter.
Pennsylvania cracks the “top 5”
When it comes to new business activity, California is the clear number one for overall volume for the second quarter of 2011 (73,810). And although Pennsylvania is a distant 5th (17,613), I’m still happy to see my home state make the list. Maine saw the biggest year over year increase coming in at 165%. Oregon, on the other hand, wasn’t as lucky, experiencing a sharp decline of 54%.
Vast majority of small business owners unsatisfied with government efforts
Despite the signficant growth in small business activity, an overwhelming number of respondents (67%) indicated they were unstatisified with the effectiveness of government. In fact, only 2% indidcated they were "highly satisfied" with the government's efforts. More than a third of small business owners (38%) agreed that jobs creation and unemployment should be the number one focus of politicans.
Just what’s in store for Q3?
Will small business activity continue to pick up at a pace similar to what we’ve seen over the past few months? Or will the continued economic uncertainty start to cool things down? Share your thoughts and opinions below.