BofA: Mass. Small Business Owners More Confident In Local Economy
Boston-area small business owners are generally optimistic about their endeavors but concerned about consumer spending, health care costs and the effectiveness of federal leaders, according to a new report by Bank of America.
The Small Business Owner Report is a new publication by the banking giant based on a national survey. It found that 46 percent of small business owners in the Boston area are confident that the local area’s economy will improve in the next year, while only 39 percent have the same confidence about the national economy. Seventy percent gave the local economy some credit for their businesses’ success, more than in any other part of the country.
More than half of respondents in the Boston area said they expect increased revenues in the next year.
Asked about the economy’s impact on their success, 67 percent pointed to the recovery of consumer spending as a concern. The next most-mentioned worries were health care costs and the effectiveness of U.S. government leaders, at 65 percent each. Credit availability is a concern for 52 percent.
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