Atlanta’s entrepreneurs currently have a strong business outlook according to the spring 2019 Bank of America Small Business Owner Report. On all indicators, the city’s small business owners are more confident than the national average. However, they are less confident in the national economy.
The report is based on a semi-annual survey of more than 1,500 small business owners across the country. Metro Atlanta entrepreneurs’ projections for the next 12 months include:
- 87 percent said they will expand their business (20 percent more than the national average)
- 71 percent expect revenue to increase (12 percent above the national average)
- 37 percent plan to hire (13 percent more than the national average)
- 21 percent will apply for a loan (9 percent above the national average)
While 67 percent believe the Atlanta economy will improve, just over half of the respondents – 54 percent – believe the national economy will improve. Their top economic concerns are the political environment, costs of healthcare, consumer spending and strength of the U.S. dollar.
Photo by Ian Schneider on Unsplash.