Small business confidence ticked up and remains at a high level, according to the latest CNBC|SurveyMonkey Small Business Survey for the second quarter. The CNBC|Survey Monkey Small Business Confidence Index reading of 59 (up from 58 in the first quarter 2019) indicates that small business owners are optimistic about the direction of their business over the next 12 months.
“Businesses are feeling pretty good, the economy is doing well, and confidence is still at high levels,” said Todd McCracken, president and CEO of the National Small Business Association.
Two key survey questions showed the most confidence since Q3 2018. Fifty-six percent of small business owners describe business conditions as good, while 60% say they expect revenue to increase in the next year. The percentage of small business owners who expect revenue to decrease (6%) is at its lowest level since Q1 2018. The percentage of owners who describe business conditions as bad (5%) also was a low in the survey’s history.
The largest businesses (those with 50 or more employees) are particularly optimistic, with 77% describing business conditions as good and only 1% saying conditions are bad