Bank of America's Fall Small Business Owner Snapshot



Bank of America's Fall Small Business Owner Snapshot

U.S. small business owners are entering the new decade on a high note, with 82% anticipating year-over-year revenue growth as they close out 2019, according to the Bank of America Business Advantage Fall 2019 Small Business Owner Snapshot.

Entrepreneurs are confident about their business prospects, with expansion plans, revenue projections and intent to hire remaining strong and steady from last fall. While business owners also maintain a positive outlook for their local economies (52% vs. 54% in fall 2018), they are expressing a slightly more cautious view of the national economy (49%, down from 55% in fall 2018). The top five factors influencing business owners’ confidence in the national economy this fall are elections (91%), U.S. political climate (90%), GDP growth rate (89%), inflation (89%) and interest rates (89%).