Small Business Optimism Remains High In August... leading to increased capital spending and higher sales expectations.

According to the Small Business Administration, small businesses represent 99.7% of U.S. employer firms*. This market is an area of focus for SQN Investment Advisors and a principal driver of employment and economic growth for our country. So it goes without saying, if small businesses are optimistic, we should all be optimistic about the future of our Economy.

Fortunately, that seems to be the case. According to the National Federation of Independent Business (NFIB) Index of Small Business Optimism August 2017 Report, released Tuesday September 12th, "the percentage of small business owners planning to make capital expenditures in the next three to six months reached its highest level since 2006." Small business optimism has been on the increase since the end of 2016 as evidenced by the Small Business Outlook 2017 survey conducted by Insureon in the week following the Presidential election last November. The survey found that 82% of respondents planned to grow in 2017 and 52% expected to buy new equipment or furniture.

This is positive news, especially for SQN and our clients. Increased capital expenditures by small businesses may translate into increased investment opportunities for our funds and investors.

* Small Business Administration "Frequently Asked Questions About Small Businesses" (August 2017).

The information provided above is general in nature and is not intended to represent specific investment or professional advice.

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