Illinois: #7 nationally for small business optimism

Small businesses nationwide are riding a wave of optimism, and local media in Illinois have already been localizing national reports with anecdotes of local merchants who are feeling good about their business prospects in 2017. Now, we have some data specific to Illinois to back up those positive anecdotes.

The Prairie State ranks #7 nationally in small business optimism, with 72% of the Illinois local merchants reporting positivity this year, according to new data from Womply. In fact, Illinois has 8.5 optimistic small business owners for every pessimistic one, and optimism about business in 2017 outpaces satisfaction with business performance in 2016, according to our data.

So, things are good in Illinois for small businesses, especially the few that made the annual Forbes Best Small Companies list, including Nick’s Pizza & Pub in Crystal Lake. The only downer: all that optimism isn’t translating into strong hiring intent for Illinois small businesses. In fact, only 19% of the state’s local merchants plan to add staff this year, ranking Illinois #35 nationally.

That’s a puzzling paradox, considering our study found strong correlations between optimism and hiring intent. Nationwide, optimistic small business owners are 3.5x more likely to hire and add staff and pessimists are 6.5xmore likely to cut staff and employee pay.

Our study also dives deeper into what’s driving optimism or anxiety for Illinois small business owners, and how they feel about timely policy issues that affect business, like tax reform and Obamacare repeal. Read the full report below.

Blog

New forgiveness rules, SBA PPP Direct Forgiveness Portal, and loan deferment

On July 28, 2021, the SBA announced a new interim final rule on PPP loan forgiveness. The guts of the […]

Read More

How to change business name on facebook (walkthrough for desktop and mobile)

In this how-to article we’ll cover the main reasons to change your business name on Facebook, how to change your […]

Read More

14 best freelancing sites (plus tips for starting your freelance career in 2021)

What are the best freelancing sites and platforms to get you started in your freelance work? Let’s have a close […]

Read More

Best lead generation websites for contractors and freelancers

In this 8-minute read, we’ll go over the best lead generation websites for contractors and freelancers, discuss what is a […]

Read More

13 best freelance jobs for 2021 (and tips to get started)

In this 10-minute read: What is freelancing or freelance work? Best freelance jobs for highest pay Top freelance jobs that […]

Read More

41 small town business ideas that thrive

Small towns offer more business opportunities than you might think. A lower population size is one drawback in exchange for […]

Read More

See why Womply is the #1 marketing and CRM solution used by 500,000+ businesses.

Please start typing, and then choose your business from the dropdown.

By submitting this form you agree to Womply’s Terms of Service and Privacy Policy.