Small-business owners are feeling confident on a number of levels, according to results from the latest Principal Financial Well-Being Index — Business Owners report released today.

Ninety-four percent of small-business owners responding to the survey said their business is either stable or growing, with 50 percent in the “growing” category, according to the survey. By comparison, 25 percent said they were growing a year ago.

Business owners are not only confident in their success today, but looking forward to the prospects of tomorrow. Fifty percent said they are optimistic about the economic outlook for 2017, an increase from 45 percent last year. Over a third (36 percent) plan to increase wages, and the same number plan to add to staff.

 

“Small businesses employ nearly half of American workers, so they’re hugely important,” said Amy Friedrich, senior vice president at Principal Financial Group. “When they’re feeling confident, the economy does better. And when we see that 92 percent maintained or increased staff in the last year, we know they’re not just feeling good — they’re taking action that has real economic impact.”

 

This year, 87 percent of business owners said they’re financially healthy, up from 82 percent last year. Sixty-nine percent have surplus capital on hand, and only 7 percent are holding on to their capital because of political uncertainty.