The fiscal cliff issue has yet to be resolved, but it seems small business owners are optimistic about hiring and sales growth next year, according to a new report released by Bank of America.
Of 1,003 small business owners polled between September and October, 54% expect revenue to increase in the next 12 months, while 38% believe revenue will stay the same.
What’s more, 31% of small business owners said they plan to add employees in 2013, while only 3% expect to decrease their company headcount.
“Heading into 2013, small business owners have a high level of confidence in their ability to build and sustain a successful business,” Dean Athanasia, a Bank of America preferred banking executive, said in a statement.
While entrepreneurs in the survey indicate confidence about growth projections, they remain less confident about the overall health of the economy. Less than half (38%) of small business owners polled said they think the national economy will improve in 2013.
With Thanksgiving only a week away, the report also revealed an interesting tidbit about Black Friday sales: they're overhyped, at least for small businesses. 75% of business owners surveyed said Black Friday has no effect on the bottom line of their businesses.