Most Boston-area small business owners plan to sustain or grow their businesses over the next 12 months, although a majority do not believe the local economy will improve in the same period, according to a Bank of America study.
The 2012 Small Business Owner Report, a semi-annual study analyzing the outlook of small business owners nationwide, indicates that small business owners in the Boston region are optimistic despite their economic outlook.
Twenty-four percent plan to hire more employees in the next year, and 67 percent expect their staffing need to remain the same, according to the report. More than half of small business owners believe their revenue will increase in 2013, and just 9 percent expect it to decline.
Still, most Boston-area small business owners believe the health of the local economy is most important to business success. Seventy-five percent said the local economy plays a significant role in their business, while 55 percent believe the national economy plays a major role. Just twenty-five percent of Boston-area small business owners believe the global economy is a major factor.
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