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September 07, 2004
Strong Q2 for Small Businesses
The state of small business in the U.S. remained healthy in Q2 of 2004. Entrepreneur's income and optimism were both strong according to a report issued last week by the Office of Advocacy of the Small Business Administration.
"Economic conditions for small business improved in the second quarter of 2004 according to the recently released Quarterly Indicators: The Economy And Small Business. The report, issued by the Office of Advocacy, shows proprietors' income increased at an annualized rate of 14.8 percent and the National Federation of Independent Business (NFIB) optimism index remained in record high territory."
There seems to be good reasons for the positive reports on the state of small business heading into the fall.
"The report notes that interest rates remained low with the prime rate at 4.0 percent while the rate for small business loans of less than $100,000 averaged 4.2 percent. Worker productivity remained strong with a 4.6 percent increase in nonfarm business output per hour. And, the 2.8 percent increase in Gross Domestic Product (GDP) marked the eleventh consecutive quarter of positive real output growth since the recession of 2001."
Posted September 7, 2004 11:01 AM
at Belmont University in Nashville, Tennessee. He consults with a variety of businesses on start-up and growth related issues, and with larger corporations on re-establishing entrepreneurial cultures within their organizations. Dr. Cornwall's current research interests include entrepreneurial finance and entrepreneurial ethics. He has authored or co-authored four books.
