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Small Business Owner Optimism Remains High

 

SB Informer
Tuesday, April 3, 2007; 08:47 AM

Wells Fargo released today the results of the Q1 2007 Wells Fargo/Gallup Small Business Index, which tracks the optimism of small business owners nationwide. The Index registered at 110 for Q1 2007, dropping a modest four points from its record high of 114 in Q4, 2006.

Despite signs of a weakening economy, 90 percent of small business owners report they are satisfied owning their businesses and 78 percent would do it all over again. The Index tracks six key measures (financial situation, cash flow, revenues, capital allocation, job hiring and credit availability) for both current and future expectations.

"The slight drop in small business owner confidence was evident in both the present situation and future expectations components of the Index, suggesting weaker current and future conditions than the last quarter of 2006," said Dr. Scott Anderson, Wells Fargo senior economist. "The combined pressures of high gas prices, resetting mortgage rates, and moderating home price growth continue to put strains on household balance sheets."

About the Small Business Index

Since the third quarter of 2003, the quarterly Wells Fargo/Gallup Small Business Index has surveyed small business owners on their perceptions of current conditions and future expectations relating to financial situation, revenues, cash flow, capital spending, number of jobs and credit availability. Results are based on telephone interviews with approximately 600 small business owners nationwide conducted February 5, 2007 through February 19, 2007. The margin of sampling error is + 4 percentage points.

About Wells Fargo

Wells Fargo & Company is a diversified financial services company with $482 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA."

Providing financial products and services to more than one million businesses with annual sales up to $20 million in all 50 states, Puerto Rico and Canada, Wells Fargo is America's #1 lender to small businesses in total dollar volume according to the most recent CRA data (2005).

The second largest national SBA lender in dollars, Wells Fargo is an SBA Preferred Lender in 28 states and the District of Columbia, and originated 4,937 loans for $578 million in 2006. Its diverse business services programs provide outreach and education to women, African American, Latino, and Asian business owners about financial services. Since 1995, Wells Fargo has loaned more than $30 billion to women and diverse business owners. For more information, please visit
http://www.wellsfargo.com/biz.

About the Gallup Organization

For more than 60 years, the Gallup Organization has been a recognized leader in the measurement and analysis of people's attitudes, opinions and behavior. While best known for the Gallup Poll, founded in 1935, Gallup's current activities consist largely of providing marketing and management research, advisory services and education to the world's largest corporations and institutions.


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