Half of Chicago entrepreneurs expect a better 2011

2/27/2011

With small lending practices slowly improving for small business owners, many are expecting to have a better 2011. This is especially the case in Chicago, where as many as 50 percent of small business owners are anticipating a more profitable year.

According to a recent report from Citibank, 86 percent of Chicago small business owners expect to do either better or the same as they did last year. Only 14 percent said thought they would do less business in 2011.

Chicago entrepreneurs are also optimistic, with 78 percent saying they would start their businesses over again even knowing how challenging the recession would be, while 66 percent would recommend their careers to their children.

"Our survey shows that the entrepreneurial spirit remains alive and well in Chicago, and that small businesses in the city are ready to grow as the economy improves," said Raj Seshadri, the head of small business banking at Citibank.

Business prospects for entrepreneurs should continue to improve as President Obama and his administration enact new legislation that provides better support to small companies.