Office Depot: Small business owners remain optimistic in February

3/23/2011

According to the latest Office Depot Small Business Index report, small business owners are remaining optimistic despite believing there will be significant challenges when it comes to financing their companies in the future.

More than half of respondents (56 percent) expect the economy to improve in the future, which will have a positive impact on their small businesses' sales and profits. Still, more than three-quarters of entrepreneurs (80 percent) think that small business lending will continue to be an issue, with many anticipating increased difficulty in obtaining loans.

"Small businesses remain the lifeblood of the economy, and while our survey shows that many are predicting growth this year, we continue to see them raise concerns about the costs of doing business," said Neil Austrian, interim chairman and CEO for Office Depot.

With economic conditions slowly improving, many entrepreneurs are looking to grow their work forces by hiring new employees. However, if capital is an issue, as Office Depot's report noted, then business owners may be better off investing that money into sales and marketing.