Small business owners show cautious optimism about 2013
(BPT) - There’s no doubt that small businesses are a driving force in the American economy. And because they feel the shifts in the economy so acutely, the insight of small business owners can provide a real-time picture of what’s going well and where potential problems lie. The semi-annual Bank of America Small Business Owner Report explores the concerns, aspirations and perspectives of small business owners across the country; revealing messages of both optimism and caution.
Hopes are high among small business owners for a profitable 2013 – more than half of those surveyed said they anticipate their revenue will increase in the next year. And most small business owners also feel they are currently in a good position in regards to capital, with 70 percent saying they have what they need to run their businesses effectively.
In addition to revenue, small business owners were optimistic about hiring and staffing in 2013. In a challenging job market, 31 percent of small business owners say they plan to hire within the next year, which is good news for those seeking employment. A mere 3 percent said they had plans to reduce staff numbers.