We are pleased to share the fall 2013 Bank of America Small Business Owner Report, a semi-annual study that uncovers the concerns, aspirations and perspectives of small business owners across the country. Our fall report takes a close look at the challenges of finding and retaining the right talent, revenue and growth expectations, the impact of the holiday season and access to capital.
Small business owners surveyed are optimistic about their growth in 2014, with nearly one-third planning to hire over the next 12 months, and more than half expecting their revenue to increase over the same time period. The critical role talent plays in the success of a business is one area where all owners can agree; however, finding and keeping the right talent can be difficult. Almost half of those surveyed say finding qualified employees is difficult, and more than nine in ten take steps to retain the valuable workers they already employ.
At Bank of America, we know that small business owners are an essential element of our local and national economies. That’s why our banking experts are there for them, in neighborhoods across the country, to help them with their deposit, investment, cash management and credit needs.
Whether they’re looking to make operational improvements or grow their employee base, Bank of America is committed to helping our small business clients realize their vision for a successful 2014.