April 24, 2013
By Bob Coleman
Editor, Coleman Report
Their 32 page report is chocked full of so much information I will take several blog posts to discuss.
First, start with the basics. U.S. Bank defines a small business as one with revenues of less than $10 million. And it seems to establish a floor of $200,000 in revenues, limiting those with revenues below that threshold participation in the survey.
43% say we are still in a recession, 45% say we are in recovery, and 1% believe we are in expansion.
Other quick notes
· 67% describe their financial health as good
· 29% report higher revenue compared to last year
· 41% expect revenue to be higher next year
· 16% expect to increase staff over the next 12 months.
· 13% have borrowed, or have tried to borrow money
· 52% of borrowers describe the process easier.