Today we have a special post by our summer intern, Anastasia Bowden, who will be a senior at UNC-Chapel Hill this fall. She is majoring in Journalism with a focus in Public Relations, and a minor in Spanish. Here is her first post.
Americans have more confidence in small businesses compared to large businesses, according to results of a Gallup survey released last month. The survey results show that 60 percent of surveyed Americans have a great deal or quite a lot of confidence in small businesses with only 35 percent displaying a great deal or quite a lot of confidence in big business.
These results are not unique. In fact, Gallup has been conducting polls assessing confidence in multiple institutions including both small and large business. Confidence in big business has fluctuated minimally since May 1973 when the poll was first created, but not by much. Confidence in small business was not assessed until July 1997 with gaps in assessment from 1999 through 2006. Of the poll results available, confidence in small business has also remained fairly consistent but the gaps make it difficult to see fluctuations, if there are any, in confidence levels.
“Americans have a positive image of small businesses and give them more credit than big businesses for creating new products and technologies in the U.S.” said Gallup in the survey results. Gallup defines a small business as a company employing fewer than 500 employees.
When the same poll was conducted from June 1-4, 2013, results were more favorable to small business compared to big business. Sixty-five percent of respondents had a great deal or quite a lot of confidence in small business contrasted by only 22 percent having a great deal or quite a lot of confidence in big business.
Though these results show that Americans are confident in small businesses, access to capital is still a hurdle many of these businesses face. Gaining the confidence of Americans is only one part of being a successful small business; accessing capital is just as vital to a business’s success and that hurdle still exists.
Results for this Gallup poll are based on telephone interviews conducted April 30-May 1, 2014, with a random sample of 1,005 adults, aged 18 and older, living in all 50 U.S. states and the District of Columbia.