Infographic: Q3 2017 Small Business Index
Insights on small business owners in Q3 2017.
Small business optimism highest in a decade
The q3 Wells Fargo/Gallup Small Business Index
The overall index score jumped 11 points in Q3, to a 106 in overall optimism, a 61 in present situation, and a 45 in future expectations.
Managing business seasonality
Small business owners were asked about the seasonal cycles that their businesses experience during the year. The survey found that almost half (45%) of small business owners have predictable times of the year that are significantly busier or slower than others.
Four in ten say that seasonal differences in their business cycle make it more difficult to manage cash flow
During slower times of the year, 21% report increasing their use of business credit to bridge cash flow gaps
During busier times, 64% say they pay down debt or reduce their use of credit
When business owners were asked to identify the most important challenge facing their business today, several items rose to the top of the list:
Hiring and retaining quality staff, for 13 percent Attracting customers and finding new business, for 12% Taxes, for 9% Government regulations, for 9% Financial stability and cash flow, for 9% The economy, for 5%