As this year's annual National Small Business Week continues to be celebrated, there are new reports coming from around the country showing that many leaders are only gaining confidence in the near future of the market. It's expected that sentiments like these will only continue to boost efforts to succeed around the country.
Nationally celebrated week
According to the White House, National Small Business Week is an important benchmark for the country not just because of what it celebrates, but the potential growth it can inspire. From May 12 to May 19, businesses everywhere will have their successes and merits lauded. The more than 28 million small businesses in the country have been said to create nearly two out of every three jobs in the current economy, the White House noted, which shows the importance of their strength to the overall economy.
The week is also designated to show entrepreneurs the various services offered by the national Small Business Association, which will be expanded upon by events held nationwide and online throughout the next seven days. It's even expected to help encourage consumers to visit their local small businesses.
Confidence on the rise
In accordance with the week's commemorations, there is further good news arising. A recent Small Business Confidence Survey released by human resources company TriNet found that half of all small business owners plan to make new hires by the end of the year, and nearly 75 percent of all business owners have faith that their businesses will increase overall revenue before the start of 2015.
More specifically, out of the various business elements that are becoming important emphases in the market, hiring qualified staff was heavily noted to be the most important, with 35 percent of respondents concerned about adding the right employees.
Other worries on the minds of small business leaders are dominated by financial issues. Getting new business, managing various expenses and cash flow were noted as the top three concerns among small business owners, each receiving about 50 percent of the overall market's interests. Taxes and managing debt also remained important in their minds.
Another point of emphasis in the small business climate is the ability for an owner to maintain a balance between work and personal life. Up to 32 percent of small business owners rank that worry as a regular need.
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