The past few years have been brutal for small businesses but it looks like things are starting to improve. A report from the National Federation of Independent Business shows that confidence is at a three-year high. There are even more plans to hire employees.
Well, top companies and investors are seeing opportunity. For example, Google (GOOG) Ventures, Salesforce.com (CRM) and Sequoia Capital have announced a $32 million round for HubSpot.
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Times are particularly tough for VC funds. The IPO market is a ghost-town. M&A is muted -- with fairly low valuations. By all accounts, it looks like the returns for VC funds will be dismal.

