SMALL BUSINESS OWNERS CONFIDENCE AT HIGHEST LEVELS SINCE 2015
Bank of America recently released the results of a survey of small business owners from across the country, and the results are astounding ! Over “… 50 % of the owners ( surveyed) expressed confidence that the local economy will continue to improve over the next 12 months”…, up from 37% in the fall.
Moreover, “Another 52% of entrepreneurs surveyed conveyed similar confidence on the national level, while 35% expected global economic improvement.”
James Wichert, President and CEO of Discount Retail Store Services, North America’s largest developer of retail stores for independent owners, echoes these results, noting that “ Over the first four months of this year, we have had experienced the highest level of interest from individuals seeking to start their own businesses of any first four month period in recent history. First time owners and current owners of other types of businesses seem to be more ready than ever to move forward and start a new business with us.”
The Charlotte Business Journal quotes Sharon Miller, head of small business for Bank of America, who says interestingly, “Millennial small business owners also have higher expectations both for increased revenues in 2017 (65%), and business growth over the next five years (80%).
Wichert, who has review the Bank of America report as well, notes that “…the report also shows a marked decline in economic concerns among small-business owners from the previous 6 months, and the previous year.” This would seem to go along with the overall increased confidence in the small business climate.
The survey also noted that “… entrepreneurs describe their jobs as fulfilling and satisfying, and feel they have achieved work-life balance.” John LaFronz, General Manager of Dollar Store Services , when asked about this “balance” said “ Our company recognizes the importance of this balance; our training and systems have been designed and refined over the last 24 years to make sure that owning and operating one of our stores is as simple, stress free, and enjoyable as possible. Our research, training, after opening support are all designed to make each retail business exciting, fun, rewarding, and stress free.”