Small Business Outlook 2014
As the year ends, small business owners are feeling slightly negative about 2014. The Wells Fargo/Gallup Small Business Index asked owners, “All in all, are you more optimistic about your business’ future going into 2014 than you were going into 2013, less optimistic, or about the same?” Of those who responded, 23 percent were more optimistic, 49 percent felt about the same as they had at the close of last year and 28 percent were less optimistic. These were the results of the fourth-quarter update of the Index, based on conversations with 605 small business owners.
Small business owners are also mixed in opinion over how the operating environment for their companies will be in 2014, with around a quarter believing it will be worse than 2013 and a quarter believing it will be better. The specific concerns of small business owners are varied, from government issues to attracting new customers. Many are also concerned about the economy in general.
“Some of small business owners’ lack of optimism may be borne out of their concern about factors over which they have little direct control, including the economy, the government, and the implications of the rollout of the new healthcare law.,” Gallup stated in a release. “Other concerns are more direct, including basic issues that are part of their competitive environment such as their ability to attract new customers and to find and retain good employees.”
In the new year, small business owners can consider getting a small business loan if they are struggling to attract customers and retain employees due to financial issues. A merchant cash advance can cover for slow business activity if it should arise, as well. Using an alternative lender like National Funding can ensure access to capital for small business owners no matter what the new year brings.