Optimism among small-business owners has edged up over the past three months, according to the latest quarterly Wells Fargo/Gallup Small Business Index survey.
Conducted July 8-12, the overall index, which measures present and future optimism, is +136, up from the +129 recorded in the second quarter.
Measuring the attitudes of small-business owners on a variety of factors, one of the more notable shifts is that 58% of owners say their revenues increased in the past 12 months, up six percentage points from last quarter, and 64% expect revenues to increase in the future, also up six points.
More broadly, small-business owners’ optimism about their financial outlook over the next year has also improved, with 79% now saying they are more optimistic than pessimistic—up from 70%.
The survey also finds an uptick in small-business owners’ anticipated use of credit going forward, a potential sign of pending business expansion. One-third of owners say they are planning to apply for new credit products in the next 12 months —up from 26%.
Also, while over eight in 10 small-business owners have been following news about the trade and tariff situation very or somewhat closely, two-thirds indicate the situation will have very little or no impact on their specific business. In part, this may reflect that relatively few owners (23%) report that their business has international customers.