Survey Finds Sales Expectations Increasing Among Small Business Community
Written by Ken Gaebler
New research from PNC finds that nearly half of small business owners expect to see higher sales this year.
Although the most recent Discover Small Business Watch survey found that confidence in this sector declined markedly from February to March, a new study is showing that sales expectations are actually increasing.
Research from PNC's biannual survey demonstrates that in some arenas small business news is looking up. According to the study, 48 percent of small business owners expect to see their sales increase, while 37 percent believe profits will improve as well, compared to 31 percent in the fall.
However, that doesn't mean this sector isn't still troubled by things such as rising energy prices. In fact, 72 percent of respondents said if energy prices kept rising, it would have a negative impact on their business.
"The recovery light hasn't turned green, but it's a lighter shade of yellow," said Stuart Hoffman, chief economist for The PNC Financial Services Group.
"The survey results support our view that the half-speed recovery that began in July 2009 is transitioning into a self-sustaining economic expansion for 2011-2012 which will not be derailed by higher energy prices, Europe's sovereign debt problems or the disaster in Japan," Hoffman added.
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