As many as 85% of small business owners are optimistic about the economy heading into the new year, according to the December SurePayroll Small Business Scorecard®.
The last time optimism about the economy was this high was in May of 2015. The survey says the highest it’s been in the last year was just 78%.
Additionally, 66% of small business owners expect to be profitable in 2017, with a third looking to grow the size of their company as well.
How Will Small Businesses Reach Profitability?
More than anything, it’s up to them – 42% report that execution by themselves and their employees will be the key to success in 2017; 27% say a strong economy is key; and 17% say it will depend on changes in the law that are favorable to small businesses.
This is as optimistic as small business owners have been in almost two years, yet they’re still realistic in knowing they have to be smart and efficient about running their businesses. From what they tell us, that means bringing in more skilled employees, as well as managing cash flow and keeping their balance sheets in good shape.