October 2024
Women and Minority Business Owner Spotlight
This year’s study explores the sentiments of small and mid-sized business owners, spotlighting women and minority business owners.
Key takeaways
- The survey of more than 2,000 small and mid-size business owners across the country explores perspectives about business outlooks, access to capital, how they manage their employees, and how small businesses interact with their community.
- Despite continued concerns around inflation, nearly four-out-of-five small and mid-sized business owners anticipate revenue growth in the next 12 months, with many planning to hire and invest in employee education.
- When looking at the economy, business owners across all surveyed cohorts are cautiously optimistic that economies will improve over the next year. Nationwide, 66% of business owners believe the local economy will improve, 60% believe the national economy will improve, and 57% believe the global economy will improve.
- Despite optimism, challenges remain; inflation and supply chain issues are top of mind for business owners. Plus, labor shortages are leading many looking to utilize technology to bolster their hiring and improve client experiences.
Read our full analysis for a more in-depth look at these trends.
