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Small business owners' confidence is on the rise, according to a new survey, yet the “cautious optimism” cliche lingers.
The report, the 2015 American Express Open Small Business Monitor, found that 67% of small business owners feel optimistic about the economy and business prospects for the next six months. That's up from 54% in the last survey, in spring 2014. Even with the optimistic outlook, survey respondents are cautious in terms of capital investment plans, with 56% saying they intend to invest in their business. That's roughly the same from the previous survey.
Other findings from the survey include:
Annual salaries entrepreneurs pay themselves rose slightly, from $71,200 last fall to $73,700;
Less than half the respondents, 47%, worry about saving for the retirement they want. That's a sharp drop from 65% who worried about that in the spring 2014 survey.
The leading industry with growth plans, at 91%, is construction. Manufacturing, at 86%, and retail, at 85%, are next.
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