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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Washington, D.C., Small Business Owners Continue To Be Optimistic About 2013, Yet Concerns About The Economy Remain

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 small business owners across the Greater Washington market, found that the majority of Greater Washington’s small business owners are planning on sustaining or growing their business over the next 12 months. Specifically, nearly one-third (32 percent) plan on hiring more employees, while 59 percent expect their staffing needs will remain consistent.

In addition, almost two-thirds (63 percent) of the Washington, D.C., small business owners surveyed anticipate that revenue will increase in 2013, while only 6 percent expect revenue to decline.

However, this optimism is tempered by their views on the economy, with only 50 percent of Greater Washington small business owners confident that their local economy will improve over the next 12 months. Respondents were even less confident in the national (39 percent) and global economies (27 percent) improving in that same period.

The significance of Greater Washington’s local economy

More than half (54 percent) reported that the majority of their customers come from the local community, compared to 32 percent who indicated that their customers come primarily from outside the local community but within the U.S. Only 4 percent indicated that the majority of their customers come from outside the U.S.

Additionally, 72 percent of Greater Washington’s small business owners believe that the local economy plays a significant role in their business. Comparatively, 52 percent believe the national economy plays a significant role, and only 30 percent believe the global economy is significant to their business.

“The economic backbone of Greater Washington isn’t rooted in national government organizations; it’s powered by the region’s small business community, which is doing business every day with the public and private sector across the Mid-Atlantic,” said Raj Kochhar, Small Business Banker region executive for the Mid-Atlantic at Bank of America. “Bank of America remains fully committed to supporting small business owners with their financial needs so that both their business and our community can grow.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,691.08 -85.04 -0.48%
S&P 500 2,057.27 -10.62 -0.51%
NASDAQ 4,862.4160 -38.4690 -0.78%

Partners Compare Online Brokers

Free Reports

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