Main Street Monday — Main Street Very Optimistic Says B of A
April 30, 2018
By Bob Coleman
Editor, Main Street Monday
Main Street Monday — Main Street Very Optimistic Says B of A
According to the Bank of America Spring 2018 Small Business Owner Report, economic optimism is at a three-year high, tax reform is seen as a game changer and mobile devices, digital platforms and emerging technologies are reshaping the small business landscape.
Stats:
- 3-year economic outlook high: 54% of small business owners expect the national economy will improve over the next 12 months—the highest since fall 2015
- Revenues: 60% expect their revenue to increase in the year ahead
- Interest Rates — 51% are concerned about rising interest rates
- Credit Availability — 32% are concerned about access to credit
- Expansion — 69% plan to expand in the year ahead
- Growth — 60% plan to grow business in the next 5 years