52% of Small Biz Owners Expect to Increase Revenues this Year

April 25, 2013

By Bob Coleman
Editor, Coleman Report

Part II of our reporting of the US Bank 2013 Small Business Annual Survey shows entrepreneurs are split about their prospects for this year.

And while 43% believe we are entering another recession, 52% are more optimistic with their business’ growth.

Here are more numbers for the stat geeks.

The number one challenge facing Main Street?

Economic Uncertainty — 30%
Poor Sales — 15%
Government Regulations — 14%
Taxes — 12%
Competition from Large Businesses — 10%

When it comes to adopting new technology, how would you classify yourself?

Innovator — 6%
Early Adopter — 24%
Early Majority — 33%
Late Majority — 31%
Laggard — 6%

And the banking question — What are the 5 most important things you would like to see from your bank that you’re not getting?

Adjust to meet my individual needs — 24%
Make money more available — 22%
Offer access to network of small business owners — 22%
Know me and my business — 21%
Serve as a financial mentor — 20%