A recent survey by Business Owner’s Toolkit indicated that while small business owners remain wary of current economic conditions, they are pretty optimistic about their current outlook.
By an overwhelming majority, 83% of small business owners plan some sort of expansion to their business in the next year. Half of those are pretty optimistic while the others are more cautiously optimistic. Out of 1300 businesses surveyed, 85% stated that they have not seen a decrease in demand for their products and services.
Nearly 70% of respondents expect demand for their products in increase in the next six months while only 5% stated they expect their demand to decrease.
However, business owners surveyed indicated some concerns. These include: economic conditions (52%), energy costs (42%), materials cost (26%), taxes (23%), and access to credit (21%).
“Small business owners have heard messages of gloom and doom, but the majority aren’t experiencing it,” said Troy Janisch, publisher of Business Owner’s Toolkit.
These concerns though reflect the growing trend in improving operational efficiency. A majority of small business owners are seeking information on how to effectively market their products, manage finances, market their business using the Internet, improve planning, and build personal wealth.
The next survey of members of the Business Owner’s Toolkit, numbering over 60,000, will occur this August.