Indiana business owners optimistic about economy

More than one-quarter of owners of small and medium-size businesses in Indiana surveyed by PNC Financial Services Group said the Trump administration and Congress will have a positive impact on their companies. (Photo courtesy of The White House)

Indiana’s small- and midsize-business owners are more optimistic about their company’s prospects—and the national and local economy—than they have ever been before, according to a new economic outlook report from PNC Financial Services Group Inc.

In the report, which was released this month, 94 percent of Hoosier business owners said they were optimistic about their own company’s prospects over the next six months. In that same report, 93 percent of respondents said they were optimistic about their local economy, and 91 percent said they are optimistic about the U.S. economy.

These optimism levels are the highest in the history of the survey, PNC said.

Other details from the report:

■ A full 44 percent of respondents said it’s too early to predict what impact the new presidential administration and Congress will have on their business. Another 27 percent expect the impact to be positive, while 9 percent said they expect a negative impact. Another 16 percent said they expect no impact.

■ About 43 percent of respondents favor trade restrictions or import tariffs and taxes. Another 24 percent said they are against them; 30 percent are unsure.

■ When it comes to potential policy changes, respondents said a reduction in the corporate tax rate carries the most potential for positive business impact. A full 59 percent said corporate tax cuts would have a positive impact, while 9 percent said they would have a negative impact.

■ Immigration is the policy issue that has the least potential to help businesses, respondents said. On this issue, 17 percent said more restrictive immigration laws would help business, while 10 percent said it would hurt business.

The PNC report is based on telephone surveys conducted from Feb. 9 to March 31. Surveyors conducted 500 interviews nationally, and 150 interviews with Indiana businesses. The margin of error is plus or minus 4.4 percentage points.•