The 2013 Business Outlook Survey, recently released by the Association for Financial Professionals, indicates entrepreneurs are cautiously optimistic in regard to the upcoming year.
While the survey revealed that many are concerned about the impending fiscal cliff, plenty of organizations are anticipating growth in 2013 if the crisis can be resolved. Forty-six percent of those surveyed expect business conditions to be better in the coming year, with many expecting the second half of the year will be especially strong.
Some financial professionals used words such as "cautious," "uncertain" and "challenging" to describe their view of the 2013 business outlook. However, among the top 25 most commonly cited words were "positive," "optimistic," "hopeful" and "improving." This may indicate that while the economy is still uncertain, many believe it to be heading in the right direction.
Plenty of enterprises reported they anticipate needing to bring on new employees in 2013. Forty-two percent of companies expect they will have to expand their payrolls domestically next year, and 41 percent of those with operations abroad plan to expand their global workforces. This may call for an increased demand for international banking services, as more organizations develop their presence in other countries.
Those expanding their firms within the U.S. may find they are in need of business financing in order to invest in equipment, hire new employees or advance company expansion plans. Entrepreneurs feeling confident about 2013 may believe the coming year is the right time to launch their businesses, making it probable that some will require startup funding to get their plans off the ground.
Company owners and new entrepreneurs seeking assistance in obtaining a loan or learning more about business banking - whether it be domestic or international - should consult experts at a small bank that can provide them with customized solutions that are as unique as their enterprises.
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