Todd Hollander: February 15, 2017

Union Bank’s Small Business Economic Survey Finds Entrepreneurs More Optimistic

Most West Coast Small Business Owners are Optimistic that the National Economy is headed in the Right Direction; an 11-Point Jump from Previous Survey

TODD HOLLANDER

Managing Director and Head of Business Banking for Union Bank

Small business owners are significantly more confident about the national economy, according to results from the Union Bank annual Small Business Economic Survey released today. The 18th annual survey also found that hiring is on the rise, with more business owners planning to offer permanent full-time positions in 2017 while interest in contractors and temporary positions wanes.

Union Bank conducted the survey from Dec. 12, 2016 to Jan. 3, 2017, compiling results from nearly 700 small business owners in California, Oregon, and Washington State. The previous Small Business Economic Survey was conducted in January 2016.

Overall, 53 percent of respondents said the national economy is headed in the right direction, a significant reversal from January 2016 when a majority (58%) believed the economy was headed in the wrong direction. More than half of respondents (57%) also believe the economic outlook at the state and local levels has improved versus 49 percent in January 2016. However, 62 percent of survey participants said the United States, as an entity, is headed in the wrong direction. This reflects a five percentage point increase from January 2016.

Todd Hollander is available to you and your listeners to discuss the findings from the bank’s latest small business economic survey, among the longest-running surveys in the industry, and to help people understand the needs of small business owners.  Todd can also speak about the small business industry in general, and what Union Bank is doing to support small businesses.

MORE ABOUT TODD HOLLANDER:

Todd Hollander is a managing director and head of Business Banking for MUFG Union Bank, N.A.  Union Bank serves the needs of a broad range of  businesses of varying sixes, with profiles of up to $50 million in annual revenues. It offers a comprehensive group of products and services for businesses and their owners, including deposit solutions, loans, lines of credit, specialized credit programs and online business products.  A 26-year industry veteran, Hollander served as vice chairman of the Consumer Bankers Association’s (CBA) Small Business Banking Committee during 2015.  In October 2015, he began serving a two-year term as the committee’s chairman.  Hollander graduated from San Diego State University and completed post graduate work at Stanford, the University of Chicago, and the Consumer Bankers Association’s Graduate School of Retail Bank Management.

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