It seems that every year that passes brings a new small business market into play, with different expectations and predictions in place for business leaders to follow or change. The latest results about the prospects of small businesses in 2014, however, are becoming highly positive.
According to the Huffington Post, more than 77 percent of small businesses plan on bringing more staff into their ranks in the new year through one of many different practices, whether through new hires or acquiring interns. Those employees are largely expected to be young with plenty of energy and enthusiasm. About 43 percent of businesses hope to make millennials part of their staffs, while another 30 percent are trying to find staff raised during Generation X.
For businesses to find the right staffers for them, however, the news source recommends changing a few practices if necessary. For instance, flexibility means a lot in the modern business climate, as 36 percent of small businesses plan to offer better flexibility in an attempt to find better employees in the near future. It's also recommended that job descriptions are fully defined, to better attract candidates looking for specific challenges, and that the hiring process should take time – rushing things is likely to only complicate business instead of improve it.
Market set to improve
Increasing hiring expectations isn't the only expectation that the market has provided, as another recent survey found that barriers to success that stymie leaders are lifting, according to Business News Daily. While 63 percent of new business owners interviewed throughout 2013 had setbacks in launching their efforts, only 28 percent cited a lack of access to credit as a problem. That's a sharp fall of 17 percent in a single year, showing that funding is not likely to remain a problem in the near future.
Concerns about the economy and savings are falling as well. Only 36 percent of respondents listed the economy as a setback in 2013 – that's a drop of 9 percent in a single year. As well, more business owners plan to invest in their businesses, as 20 percent more reported using personal funding and savings to launch their efforts.
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