The PNC Economic Outlook survey’s newest findings reveal that optimism is at a high level among US small business owners. Now, if they just look forward to sales it is possible for them to grow and add new employees in next six months.
Spring findings of PNC’s biannual survey too reveal that optimism has grown along with sales and profits. Business owners are now planning to make investments in coming months. The findings point to a significant improvement in business expectations. It supports PNCs forecast that U.S. economic recovery will continue to happen in 2012-13.
But, inflationary trend is on a high and so business owners are planning to raise selling prices by at-least 2 percent. Also, rising energy prices, elevated unemployment and recession in Europe can prevent the economic recovery from making a winning score.
The survey is a gauge of the mood of small business owners. It is being found that sales will increase in the span of next six months and profit is going to rebound back. Other findings of PNC survey for next six months are as under:
New Loan Demand: It is expected that 23 percent of business owners will go for a new line of credit in coming six months. It is easier to find credit now according to 18 percent business owners than it was three months back.
Action from Federal Government to Create New Jobs:
It is common belief of business owners that federal action will have an influence on their hiring plans. Every business owner is looking forward to reduced regulation as it is the most desired non-action so that they can pursue in making new hires and expand business operations.
Local Economy Optimism:
It is found that 65 percent business owners are optimistic about their local economy as compared to 57 percent in the fall. Now, they are keen to invest and make new strides in business and employment.
Skills Required for Jobs:
Owner’s hiring plans may get disrupted due to skill gaps in employees. There is requirement of highly skilled people who are proficient in computer and communication skills. If this is not happening then hiring plans of small business organizations can start to drop again.
Pessimism About National Economy Reduced:
Pessimism on national economy has significantly reduced now as compared to six months back. Optimism is prevalent among 58 percent of business owners as U.S. economy’s prospect is very great in next six months.
PNC findings do point to a brighter economy ahead. It monitors business organizations and registers changes. In its recent survey, it found that optimism among business owners prevails and is going to heighten in coming months.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to email@example.com