In a recent blog post at Velocity USA--a major player in the small business loan sector and a regular user of MoneyThumb PDF financial file converters for lenders--a survey was conducted by CNBC and Survey Monkey of small business owners and the results are very inspiring. We have listed the results of this small business survey below:
More than 2000 small business owners were surveyed from July 27 to August 5 and 58 percent of the respondents claimed that business conditions are “good”. This is an increase from the previous quarterly survey that revealed 53 percent of small business owners felt business conditions are good. Additionally, during the same survey last year, only 39 percent of small business owners felt confidence in the business conditions.
There are also signs of growth throughout the small business sector; 33 percent of small business owners expect to hire additional full-time employees this year which is 7 percentage points higher than a year ago.
The survey asked 8 questions relating to current business conditions and future expectations. The 8 questions were the following:
- Overall, would you describe current conditions for your business as good, middling, or bad?
- In the next 12 months, do you expect your business’ revenue to increase, stay the same, or decrease?
- In the next 12 months, do you expect your business’ staff of full-time employees to increase, stay the same, or decrease?
- In the next 12 months, do you expect changes in government regulations to have a negative effect, no effect, or a positive effect on your business?
- In the next 12 months, do you expect changes in tax policy to have a negative effect, no effect, or a positive effect on your business?
- In the next 12 months, do you expect changes in trade policy to have a negative effect, no effect, or a positive effect on your business?
- In the next 12 months, do you expect changes in technological innovation to have a negative effect, no effect, or a positive effect on your business?
- In the next 12 months, do you expect changes in immigration policy to have a negative effect, no effect, or a positive effect on your business?
These 8 questions help gauge the current state of business conditions in the U.S. and it is encouraging to see that the majority of small business owners feel that conditions are “good.” This is great news for small business owners. The team at the Rules of Thumb blog and MoneyThumb hope this information is in line with your outlook for your small business in 2019.
MoneyThumb has the best PDF financial file converters on the market and we have a version specifically designed for small businesses. We offer a free trial download so that you can test drive our product before you buy. That's how confident we are that you will find our PDF financial file converters for small businesses an invaluable tool that needs to be included in your arsenal of success.
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