A survey of small business owners in the United States shows that small businesses continue to struggle despite increasing optimism on Wall Street.
However, entrepreneurs in south-central Idaho appear to have a different take on the current business climate.
A survey by the Ewing Marion Kauffman Foundation reported that two-thirds of entrepreneurs say the economy is heading in the wrong direction - despite Federal Reserve Chairman Ben Bernanke saying the recession is "very likely over."
But Brandon Armstrong, dir-ector of South-ern Idaho Kick-stand, a networking group for entrepreneurs in the Magic Valley, said business owners in south-central Idaho appear more optimistic.
"I don't think there is a broad sense of pessimism in our area," he said. "For those who are hard workers, determined and innovative."
He added that new opportunities in wind farm development have encouraged many entrepreneurs in south-central Idaho.
However, in the past year, more than one-third of entrepreneurs surveyed across the United States shed jobs while only five percent of entrepreneurs added employees. A majority of entrepreneurs said the stimulus package has hurt entrepreneurial activity, and entrepreneurs want government to pursue a fundamentally different approach to encourage entrepreneurship.
"In America, entrepreneurial activity is a leading force in the health and growth of our economy," said Carl J. Schramm, president and CEO of the Kauffman Foundation. "These results confirm that we've got a long way to go before we're in the clear."
Entrepreneurs have historically been key drivers of economic recovery in past recessionary periods. Since 1980, companies less than five years old have accounted for virtually all net new job creation in the United States.
Joshua Palmer may be reached at jpalmer@magicvalley.com
Posted in Local on Wednesday, November 4, 2009 1:00 am Updated: 10:53 pm.
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