Small Business Finance News

Entrepreneurs Look Forward To 2011

Written by Jenna Weiner
Published: 11/29/2010

PEX Card study finds that 59 percent of small business owners plan to add employees in 2011

Small business owners are looking forward to strong growth in 2011, according to one recent survey.

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The November study, conducted by Prepaid Expense Card Solutions's PEX Card subsidiary, found that more than half of small business owners, (59 percent) said that they expected to add employees to their companies in 2011 and more than one-third (34 percent) said that they expected profits to be higher than 2010. While the news for small business owners has been decidedly mixed, many entrepreneurs found that results had exceeded expectations.

"What we noted in the survey's results mirrors the anecdotal evidence we've gathered from conversations with our clients, specifically that 2010 has thus far been better than originally expected, and economic and business optimism is trending in a positive direction for 2011," said Toffer Grant, CEO and founder of PEX Card. "America was built on the backs of small and mid-sized businesses. They are the engines that will power us back to a secure economic footing, which is why their opinions are a strong indicator of the financial future."

Small business owners have been getting support from all sorts of organizations in recent weeks. In a Presidential Proclamation, President Barack Obama set aside November 14 - 20 as National Entrepreneurship Week.

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