BOA: Payrolls suggest cautious optimism

“Small businesses are heading into the fall with cautious optimism, as reflected by both a higher sentiment index and stronger spend growth. Bank of America Small Business payments per client rose 11% year-over-year (YoY) in August, up from 3% in July, while card spending per client was up 13% YoY in August, outpacing July’s 7% growth rate.”