Bank of America Survey Finds Small Business Owners’ Confidence Down While Election-Year Anxiety Rises

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streetinsider.comPolitical Uncertainty Gives Small Business Owners Pause on Hiring and Growth Plans

CHARLOTTE, N.C.–(BUSINESS WIRE)– Small business owners’ confidence in the national economy is down, according to the spring 2016 Bank of America Small Business Owner Report, which found that only 29 percent of small business owners feel confident that the national economy will improve over the next year – a sharp drop from a year ago.

The report, based on a semi-annual survey of 1,000 small business owners across the country, suggests that the upcoming presidential and congressional elections are having a sizable influence on the outlook of small business owners. Sixty-seven percent believe that the upcoming presidential election will affect their business “a lot” or “somewhat,” while 53 percent believe congressional elections will have an impact.

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