Small Business Owners' Economic Confidence Creeps Up in December

Economic confidence among small business owners improved in December according to the Discover Small Business watch survey.

The survey results show small business owners' confidence rose to 72.8, up 5.3 points from November. The slight increase may be prompted by owners' own optimism that their business prospects are improving. This could also help increase business development spending over the next couple of months.

Despite the slight improvements in confidence reflected in the survey most business owners still remain cautious, according to Ryan Scully, director, Discover business credit card.

"Most small business owners still believe that it will be at least into 2010 before the economy recovers," said Scully in a press release.

The survey also reveals that 69% of small business owners think the U.S. recovery will take at least 12 months.