More U.S. small businesses plan to increase capital spending

The number of small-business owners across the country who say they plan to increase their company’s capital spending over the next 12 months—28%—has reached its highest level in four years, according to the Wells Fargo/Gallup Small Business Index released today. In addition, 24% of those same small-business owners say they’ve increased capital spending over the past year. That’s up from the 19% who said the same back in October, and it’s also the most positive response since April 2008. Nonetheless, more small-business owners—35%—say they’ve reduced capital spending over the past year, though that figure is down from 43% in October. Views about the ease of obtaining credit have also become less negative, according to the survey. While 38% of respondents still feel it will be “somewhat or very difficult” to get credit, that percentage is down from 43% in the index last quarter. Twenty-seven percent feel it will be “somewhat or very easy” to get credit in the coming year. See all the index results here.