NSBA study reveals optimism among small business owners

According to the National Small Business Association's (NSBA) recently released 2011 Year-End Economic Report, more small business owners (SBOs) are optimistic about the economic climate, with three-quarters of polled SBOs reporting that they felt confident about their company's future.

The report revealed a number of positive indicators. Specifically, nearly half (46 percent) of SBOs reported revenue growth over the past six months - the highest percentage in more than three years - and the number of those reporting decreases in revenue fell from 37 percent to 31 percent.

While job growth over the same time period remained static at 22 percent, the number of SBOs reporting employment decreases reached a three-year low of 23 percent.

"Although we are far from where we need to be, it appears that small businesses have turned an economic corner," said NSBA president Todd McCracken.

However, NSBA chair Chris Holman warned lawmakers that there is still much work to be done with regard to dismantling regulatory obstacles and continuing to cultivate recovery in the sector. This was underscored by the fact that 40 percent of respondents cited regulatory issues as a major challenge for their company - a 9 percent rise from six months ago.

"Although this report is by far the most positive we've seen in quite some time, it is imperative policymakers not mistake these gains for a task completed," Holman said.

President Barack Obama recently encouraged legislators to quickly pass tax breaks and financing bills to facilitate small business growth, noting that small enterprises create the majority of jobs in the United States and should therefore be given "a leg up from the various programs that we have in our government."

Relieving regulatory burdens allows entrepreneurs to turn their focus toward other areas, such as business marketing and advertising.