Ace study measures small business outlook

Significant numbers of U.S. small business owners are optimistic about the U.S. economy, Ace Hardware reports after conducting a national study.

More than three in 10 participants in the Ace Hardware Entrepreneurship Study reported the economy either has not had a negative impact on their business (15%) or that they believe the economy will recover enough within a year to have a positive impact (16%). Further, 53% estimated the economy will turn around enough within the next two to three years to have a positive impact on their business, the company said.

“Based on our experience working with thousands of entrepreneurial store owners, these results reflect the ability of small businesses to be more responsive to their local market, more flexible in approach and more nimble to execute when facing economic challenges, likely more so than large corporations,” said John Venhuizen, VP business development at Ace.

When asked the most effective way government can assist them to survive and thrive, 43% said tax cuts, while 16% said easier access to loans, 16% said federal grants, 13% chose incentive programs, and 11% pointed to reduced regulations.

The Ace Hardware Entrepreneurship Study surveyed 538 U.S. small business owners to gain their perceptions on the motivations, challenges and benefits of entrepreneurship, the company said. The national Web-based poll was conducted in the spring.