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CAN Capital Survey: Small Business Owners Confident in the Future

May 29, 2020, 09:10 AM
Filed Under: Economy

New data released by CAN Capital, Inc. shows business owners have a sense of confidence for the future after the COVID-19 crisis.

Polling more than 400 U.S. small business owners across 49 states, the research reveals the majority of small business owners believe the future of their business is bright. Specifically, 79 percent of respondents feel at least somewhat confident in their business’s future, with 54 percent responding they are very confident.

The data also shows that 74 percent of these businesses are currently either fully or partially open, and for those that are partially open, 68 percent expect to be fully operational within 60 days. In fact, 37 percent of respondents in the survey never released any of their employees and 36 percent plan to hire back all employees that were released due to the crisis.

The research also shows 81 percent of small business owners feel access to working capital will be more difficult after the crisis. However, 82 percent of the respondents say they will invest in their businesses within nine months with 44 percent planning to invest immediately.

“The overwhelmingly positive sentiment displayed by these business owners was a bit surprising but extremely encouraging,” said Russell Walraven, CAN Capital Vice President of Marketing. “The confidence in the future of their business shows just how resilient and dedicated these business owners are to weathering this unprecedented storm.”

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