On today’s Business Beat, Jeff discusses a hopeful look for the future of small businesses, as a recent survey from Sage reveals that small business optimism is growing, which could potentially create millions of new jobs.
Tune in to the Business Beat, below, to learn more about this rising small business optimism:
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Good morning, Paul!
A new survey just released by Sage, a market leader in cloud business management solutions, has unveiled that small business optimism is rising among small businesses across the U.S. as our economy continues to reopen, and consumer confidence continues to rise. Sage’s survey shows that small businesses have reached a turning point, and confidence is gaining momentum.
The survey shows that three-quarters of small businesses are optimistic about the future of their business’ growth trajectory in the next year, and the key drivers of this newfound optimism are the following: one, the level of vaccinations; two, the return of in-person customer engagement; and three, projections of increased consumer spending.
Over eight in 10 small businesses now believe that they will not face any further lockdowns and that business will return to pre-pandemic levels for them this summer. Very significantly, this renewed optimism is driving hiring. One-third of small businesses are expected to make new hires in 2021, resulting in potentially millions of new jobs.
The bottom line: so much of economic directional velocity is driven by perception and momentum, and this good news bodes well that we are now on our way to recovering from the pandemic’s poisoning of our small business community.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.