U.S. small businesses are feeling better about the economy and are more confident than business owners from other nations around the world, according to a global survey conducted by Sage Small Business Accounting. U.S. business confidence rose 6 points since last summer, a 10 percent increase that brings the U.S. index to 61.07, with any score above 50 considered positive. As for confidence in the overall economy, the U.S. index rose more than 18 percent to 49.28 points.
The index surveyed more than 10,000 business across the United States, Canada, France, Germany, Spain, Austria, the United Kingdom, South Africa and Malaysia/Singapore. Of those surveyed, Canada, the United Kingdom and South Africa also reported improved confidence, while Germany remained unchanged and France, Austria, Spain and Malaysia/Singapore were less confident.
"Small businesses continue to be the driver of the U.S. economy and it is inspiring that business owners are confident in their prospects," said Connie Certusi, executive vice president of Sage Small Business Accounting in a statement. "With that said, many business owners have legitimate concerns about the variables that can impact their bottom line, namely the rising cost of energy, raw goods and inflation. Small business owners are always more vulnerable to these concerns so it is wise to be mindful of the challenges that these businesses will continue to face in 2012."
A complete look at the Sage Business Index:
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