It’s not surprising that small business owners felt uneasy about their businesses over the summer, given the state of our economy. It’s anyone’s guess as to when the economy is going to work its way back to normal, but what’s encouraging is a recent poll that shows the same people who felt skeptical are now feeling optimistic. Many small business owners plan to increase spending (be it by corporate prepaid cards or other traditional means) while others, who had initially made cuts, are planning to trim a bit less.
Regardless of why the consensus is this way (some say it is because of the prospect of change in Congress after the mid-term elections), one thing is for sure — small business owners are looking to forget about the past and start focusing on the future. Sure, the numbers for this change in attitude aren’t overwhelming, but they are enough to show that small business owners are beginning to change their mindsets. If the results of the mid-term election do play a large factor, we could see this optimism increasing in the coming months, or perhaps see it fall to what it was only a few months ago.
Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry.