It is generally accepted that entrepreneurs tend to be optimistic people. Why would someone venture out on their own unless they felt they could conquer the world? Survey Panelists continue to hold an overall optimistic view of the economy, and are even more optimistic about their own business ventures.
90-Day Growth Expectations: More Hiring, Less Growth
Expectations for growth in the next 90 days were down when compared to expectations in July 2011. Nearly 70% of panelists expect to see a sales increase in the upcoming quarter, down from 79% in July of last year. About a third of panelists expect to see sales stay the same, up from 23% this time last year. A small percentage (6%) expect to see a decline in sales during this quarter, whereas none of the panelists anticipated a decline last summer.
In contrast to sales growth expectations, more companies are likely to hire in the upcoming quarter (39%) than they were last summer (35%). The trend to keep employees continues, as none of the business panelists felt likely to lay off employees in the near future.
Business expansion plans remained virtually unchanged from last summer.
Outlook for the Current Year and Next Year
When asked to compare expectations for the current year to the previous year, panelists felt the current year will be better for both their business as well as for the small business community in general.
Panelists were also asked if they expect 2013 to be better than 2012, for both their business and the small business community in general. The panel was significantly more optimistic about their business outlook than they were this time last summer.