Small businesses lead the economic recovery


There’s lot of good stuff coming after so much gloom of the past few years. For example, a housing recovery is under way in Phoenix — one of the hardest-hit markets in the country — years and years before the experts predicted it would happen. Of course, things are not back to their bubble values, but home values are still coming back in this Arizona city.

Today we’re so used to bad news, it’s hard to picture anything else. Yet take a look at what else is going on.

A lot of banks are lending money again. Meanwhile, small businesses are doing much better. In fact, almost a third of small businesses in a recent Gallup survey say they will increase spending over the next year. That’s a key indicator of optimism.

Think about it like this: If you are worried about keeping the lights on at your business, the last thing you’ll do is look to expand. But that’s exactly what’s going on in a significant number of small businesses. So that’s why I’m saying that small businesses are leading the way in the recovery.

The jobs that have been created, a lot of them are low-paying service jobs. Yet today, a lot are also good-paying jobs. In some states, high-paying jobs are actually going unfilled.

I can’t say there won’t be bumps in the road moving forward, but I can assure you if you gave up looking for work long ago during the recession, now is the time to polish your interview skills and get back out there.

Not everybody will find a job, but the opportunity to find one is greatly improved.

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