Many small businesses struggled last year, but the quarterly Capital One Small Business Barometer reports signs of recovery during the first quarter.
Four of out of five businesses surveyed by McLean-based Capital One said their first-quarter financial performance met expectations.
The good results led some companies to say they intend to increase investment and expand their businesses.
However, some small businesses have concerns about obtaining new customers, and 15 percent said they are unable to fill some job openings.
Within six months, 34 percent of small businesses surveyed said they plan to hire employees, a 7 percentage point increase from the previous quarter.
The survey’s fourth quarter results from last year showed small businesses planned to approach investments cautiously. That attitude may be the reason many small companies reported stronger performance at the beginning of this year.
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