A total of 54 percent of Mid-Atlantic small business owners and leaders believe revenue will improve in the next 12 months, according to a recent WSFS Bank Small Business Trends study, and 83 percent believe it will improve or stay the same.
The majority, 76 percent, are optimistic their businesses will still be operating a year from now, and 69 percent said their businesses were prepared for a crisis.
WSFS Financial Corporation is a financial services company. OnePoll, on behalf of WSFS Bank, surveyed 500 Mid-Atlantic senior managers operating businesses with at least two employees and annual revenue of up to $5 million.
“While it is encouraging to see overall optimism among small businesses, the impacts of rising business costs, coupled with health issues in an environment where it is difficult to find and retain workers, is concerning,” Candice Caruso, WSFS Bank senior vice president and chief retail lending officer, said. “These findings underscore the importance of supporting small businesses in our communities not only this holiday season but throughout the year.”
The survey participants were not as confident about the economy over the next six months. A total of 43 percent believe the economy in the Mid-Atlantic will improve, while 34 percent believe the national economy will improve.