Balboa Survey: 58% of Small Business Owners Expect Q4/16 Revenue Increase
DEC 13, 2016 - 6:43 am
Strong revenue, confidence in the economy and plans to invest and expand business operations highlight results of Balboa Capital’s Q3/16 small business owner survey.
The survey revealed that 60% of small business owners saw increased revenues in Q3/16, a five-point decrease from Q2/16 (65%). However, small business owners are ending the year with confidence. Roughly six in 10 are expecting higher growth in Q4/16.
“Our latest survey results show a slight decrease in the number of small business owners who experienced growth during the third quarter, but overall they are feeling confident about their business’ conditions and the nation’s economy as 2016 comes to a close,” said Jake Dacillo, marketing director at Balboa Capital. “Close to 60% of SBOs we surveyed expect to end Q4 with higher revenues, and this confidence is influencing their investment decisions. Capital equipment acquisition, purchasing inventory and expansion initiatives top the list of year-end investment goals among SBOs.”
Dacillo said it is not uncommon to see an increased demand for financing and loan products during the final weeks of the year.
Other key findings of the survey include:
58% of small business owners expect their revenues to increase during Q4/16 and 16% expect their revenues to increase significantly
52% of small business owners think the economy had higher growth in Q3/16, a decrease of 11 points (63%) from Q2/16
60% of small business owners think the economy will experience higher growth in Q4/16
When asked about their growth strategies for Q4, 40% of small business owners said they plan to invest in new equipment and/or technology, 27% will purchase inventory and 25% plan to expand their operations
One in five small business owners plan to hire new employees during Q/16
Among small business owners who needed growth capital in Q3/16, the most popular options include equipment financing (39%), credit lines (28%) and small business loans (19%)
One in three small business owners worked with an online lender in Q3/16
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