Study: Small Businesses Optimistic for Future Growth
May 25, 2021—A new study finds that optimism among small business owners is growing, Small Business Trends reported.
According to the study conducted by Bank of America, 60 percent of small businesses expect their revenue will increase over the next 12 months. This compares to fall 2020, when just 34 percent of small business owners were confident of increasing revenue.
Small business owners are equally optimistic on the overall economy with 56 percent of participants reporting they are confident the local economy will improve, which is a significant rise from 39 percent last fall. Half of respondents anticipate the national economy will expand, up from 37 percent in fall 2020.