What’s Top of Mind for Business Leaders
Small Business Week is in full swing, and we're celebrating with Chase for Business with donuts, streamers, and this news: the future is looking bright for the economy.
Now you, an astute Brew reader, are probably asking: "You got any data to back that up?" And actually, we do. JPMorgan Chase's 2018 Business Outlook survey asked leaders of small ($100,000 to $20 million in annual revenue) and midsize ($20 million to $500 million) businesses their thoughts on the current business environment.
So what are business leaders saying?
- 62% of small businesses expect a revenue boost in the next 12 months, but the ability to grow sales continues to be the most common challenge (54% agree).
- Small business economic optimism is the highest it's been in several years, and millennial business leaders are even more optimistic about the local economy (70%), their industry (72%) and their own company's performance (84%) compared to their counterparts.
- Within a tight labor market, almost 1-in-3 businesses (31%) are concerned with the limited supply of candidates with the right skillset.
But there's way more to this survey we didn't have the space to share. Check out the results to learn more about what's top of mind for business leaders.
Note: The statements in this article are those of the author and are not endorsed by, or reflect the positions of JPMorgan Chase Bank N.A. ("Chase") or any of its affiliates. Chase, or any of its affiliates are not liable for decisions made or actions taken in reliance on any of the information in the article.