(CNN) – Small business owners are more confident in the economy now than they were six months ago. That’s according to a Bank of America survey, but even though entrepreneurs are more optimistic don’t expect more jobs to be created soon.
Small business owners like what they’re seeing. A Bank of America report found most entrepreneurs feel the economy will improve over the next year.
“Small business confidence has been the highest it has been over the past five years. So there is optimism out in the economy,” said Sharon Miller.
The survey asked owners about the strength of the dollar, the stock market and health care costs, “Healthcare and tax reform are big concerns of our small business owners across the country. Although there is increased optimism, there’s also a little bit of a wait and see what’s actually going to happen,” Miller continued.
That approach is prompting some small business owners to hold off on hiring more people or applying for a loan.
Plans to hire new workers are at a five-year low. Still many entrepreneurs, especially younger ones, are focused on a hopeful future, “Millennials are more confident that their revenue is going to grow, that they are going to continue to hire and reinvest in their business. They are looking toward the future and very optimistic about what’s happening in the economy.”