This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Boston Small Business Owners Continue To Be Optimistic About 2013, Yet Concerns About The Economy Remain

Stocks in this article: BAC

Bank of America today released the fall 2012 Small Business Owner Report , a semi-annual study exploring the concerns, aspirations and perspectives of small business owners across the country. The survey, which includes an oversampling of the Boston market, found the majority of Boston small business owners are planning on sustaining or growing their business over the next 12 months. Specifically, nearly one-quarter (24 percent) plan to hire more employees, while 67 percent expect their staffing needs will remain consistent.

In addition, more than half (57 percent) of the Boston small business owners surveyed anticipate that revenue will increase in 2013, while only 9 percent expect revenue to decline. However, this optimism is tempered by their views on the economy, with only 35 percent of Boston small business owners confident that their local economy will improve over the next 12 months. Respondents were even less confident in the national (26 percent) and global economies (13 percent) improving in that same period.

The significance of Boston’s local economy

The study also shows that the local economy has the greatest impact on Boston-based small business owners. Nearly two-thirds (65 percent) reported that the majority of their customers come from their local community, compared to 25 percent who indicated that their customers primarily come from outside their local community but within the U.S. Only one percent indicated that the majority of their customers come from outside the U.S.

Additionally, 75 percent of Boston’s small business owners believe that the local economy plays a significant role in their business. Comparatively, 55 percent believe the national economy plays a significant role, and only 25 percent believe the global economy is significant to their business.

“Boston’s economic growth is intrinsically tied to the success and vitality of our small business community,” said Anna Colton, Boston-based small business banker national sales executive for Bank of America. “Bank of America remains fully committed to supporting small business owners’ financial needs so that both their business and our community can grow.”

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs