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Bank of America: Small Business Owner Report

By NativeAI / June 10, 2015

Bank of America has been doing an excellent job for quite a while of connecting with small business owners by providing truly useful information. 

Case in point is its Small Business Owner Report, a “a semi- annual study that uncovers the concerns, aspirations and perspectives of small business owners around the country.”

Some key findings from the survey of 1,000 small business owners in the United States include:

Some 63% of small business owners expect their revenue to increase in the next 12 months, compared with 68% a year ago. Baby Boomer small business owners are less optimistic about revenue growth than their younger counterparts, with only 51% of Boomers projecting growth compared with 70% of Gen-Xers and 72% of Millennials.

The top concerns of small business owners include healthcare costs (70% versus 74% in spring 2014) and effectiveness of U.S. government leaders (69% versus 75% in spring 2014).

Some 55% of SMB owners say they work more than 50 hours a week on average.

Check out the full report for more insights.

Written by NativeAI / June 10, 2015