Publication: San Francisco Business Times
Published Date: 8/7/2012
Wells Fargo said Tuesday that its quarterly survey of small business owners turned down for the first time this year, erasing most of the gains achieved earlier this year.
The survey findings reinforce a growing sense that things are not well on Main Street.
The Wells Fargo/Gallup Small Business Index declined six points to 17 in a survey conducted July 9-13. The number of business owners expecting to be in a good financial position over the next 12 months fell seven percentage points, from the prior quarter, to 59 percent. And those expecting increased sales in the next 12 months declined six percentage points to 43 percent.
Those describing their financial situation over the next 12 months as somewhat or very poor jumped five percentage points to 20 percent.
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