Report Shows Georgia Small Businesses are Cautiously Optimistic
Although remaining positive, that optimism has declined slightly over the past two months because of concerns about employee wages and the general economic future. Still, Georgia small businesses are more optimistic about the economy than they were a year ago, and in April were at a two-year high in their positive feelings about the economy.
The findings were part of Thumbtack.com’s Small Business Sentiment Survey, a monthly survey of more than 10,000 independent businesses in the United States, including 557 responses last month in Georgia.
The report is unique both in its ability to survey a large number of small businesses on a regular basis and in its focus on businesses with five employees or fewer. Small establishments such as these make up 90 percent of small businesses in the country (according to the U.S. Economic Census), yet, due to their size, are difficult for other researchers or government statisticians to reach. Thumbtack can collect responses from among its user base of 150,000 active service professionals, most of who are sole proprietors in service industries.
“The third monthly release of Thumbtack’s Small Business Sentiment Index reflects a slowdown in economic conditions that started at the beginning of the year,” said Thumbtack’s Chief Economist Jon Lieber. “These businesses operate in homes across America and by studying their sentiment we can gain a unique view into the leading edge of household consumption.”
Thumbtack.com has surveyed tens of thousands of small businesses quarterly since December 2012. The survey asked questions about how small businesses are feeling about the general economic environment and health of their business, such as:
• How would you rate your company’s financial situation today?
• Have you attempted to fill any part-time or full-time positions over the past three months?
• How do you expect the prices you charge to your clients or customers to change over the next three months?