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Small Businesses - One of the Most Trusted U.S. Institutions

At Chesapeake Bank, it really is all about the community – and a major part of the communities we serve is the small businesses in them. We support those businesses in a number of ways – one of which is Third Thursdays, our monthly effort to ensure dollars are spent locally.

That’s why we were so glad to learn about the results from a recent Gallup poll, which found that small businesses are one of the most trusted U.S. institutions. In fact, Americans are more than three times as likely to express confidence in small business as they are in big business. The results of the poll showed that sixty-seven percent of U.S. adults report having "a great deal" or "quite a lot" of confidence in small business, with only 21% who are similarly confident in big business.

“I believe American consumers have a significant amount of confidence in small business because of their strong customer service and their ability to go above and beyond the normal course of business,” said Steve D. Callis, commercial loan officer and vice president at Chesapeake Bank.

“Consumers enjoy a more personal touch and like dealing face-to-face with the local owners.  Small business is the key to the success of our local economy and that is why our bank partners with these organization to help promote shopping locally so that they will thrive and be successful.”

Gallup started asking about confidence in small business in 1998 and began updating it annually in 2007. Americans have reported high confidence in small business throughout this time span. Gallup says this confidence is small business exists for a number of reasons, including serving as a source of labor and being more in tune with the needs of local communities.